战略性新兴产业上市公司财务风险评估研究

发布时间：2018-04-27 08:27

本文选题：战略性新兴产业 + 企业财务风险　；参考：《华侨大学》2017年硕士论文

【摘要】：战略性新兴产业一方面代表着新一代的产业及技术变革的发展方向,另一方面它也成为培育新动能、促进未来经济发展、获取未来竞争新优势的关键领域。我国要想在全球化的今天占据一席之地,就必须加快战略性新兴产业发展。然而,由于战略性新兴产业自身的特性,这些企业或多或少都存在着不同程度的问题。首先,自主创新的能力差,对外部依赖性高。其次,企业规模较小,产业较分散,集中程度低。因此,无论是企业本身还是投资者的投资策略,最终都应回归至研究企业的财务风险状况。财务风险作为金融市场中最主要的风险之一,不仅能够从不同的角度综合反映战略性新兴产业的上市公司是否具有投资价值,也将直接影响到整个证券市场能否正常的稳健运行。本文首先对战略性新兴产业上市公司的财务风险相关内容进行了文献梳理和综述,在此基础上指出我国战略性新兴产业和企业财务风险评估的研究现状。其次,阐述了财务风险的概念、战略性新兴产业的特征、其面临的财务风险状况以及与企业财务风险相关的基础理论。后续则是研究设计和实证部分,本文采用因子分析和突变级数法构建了战略性新兴产业上市公司财务风险评估体系,以财务风险指标作为评估模型的构建思路,最终以盈利能力、偿债能力、变现能力、研发成长能力作为四个测量维度,构建了涵盖四个二级指标,十三个三级指标的战略性新兴产业上市公司财务风险评估指标体系的突变系统模型。再次,以筛选过的304家战略性新兴产业上市公司作为样本数据,具体运用特锐德(300001)为实例演示了财务风险评估分析的计算过程,通过实证研究验证了所建模型体系具有可操作性和实用性。接着,对上述304家企业的财务风险综合得分进行排序,得分越高,代表企业抵御财务风险的能力越强,遭受财务风险的可能性越小,并根据实证结果对财务风险综合得分排名第一和排名最后的战略性新兴产业上市公司进行案例对比分析。最后,在分析304家样本公司财务风险综合得分结果的基础上,结合实际情况对战略性新兴产业上市公司财务风险的防范提出对策建议。
[Abstract]:On the one hand, strategic emerging industries represent the development direction of the new generation of industries and technological changes, on the other hand, they also become the key fields for cultivating new kinetic energy, promoting future economic development and gaining new competitive advantages in the future. Our country wants to occupy a place in the globalization today, must speed up the strategic emerging industry development. However, due to the characteristics of strategic emerging industries, these enterprises more or less have different degrees of problems. First of all, the ability of independent innovation is poor and highly dependent on external factors. Next, the enterprise scale is smaller, the industry is dispersive, the concentration degree is low. Therefore, the investment strategy of both the enterprise itself and the investor should return to the financial risk situation of the enterprise. As one of the most important risks in the financial market, financial risk can not only reflect whether the listed companies of strategic emerging industries have investment value from different angles, Will also directly affect the entire securities market can normal and steady operation. This paper firstly reviews the relevant contents of financial risk of listed companies in strategic emerging industries, and then points out the current research situation of financial risk assessment of strategic emerging industries and enterprises in China. Secondly, it expounds the concept of financial risk, the characteristics of strategic emerging industries, the financial risk situation it faces and the basic theory related to the financial risk of enterprises. The following is the research design and empirical part. This paper uses factor analysis and sudden change series method to construct the financial risk assessment system of the strategic emerging industry listed companies, taking the financial risk index as the evaluation model. Finally, taking profitability, solvency, liquidity and R & D growth as four measuring dimensions, four secondary indicators are constructed. The abrupt system model of the financial risk evaluation index system of the strategic emerging industry listed companies with thirteen three-level indexes. Thirdly, taking 304 selected strategic emerging industry listed companies as sample data and using Terride 300001 as an example, the paper demonstrates the calculation process of financial risk assessment and analysis. The model system is proved to be operable and practical by empirical research. The higher the score is, the stronger the ability of resisting financial risk is, the less the possibility of financial risk is. According to the empirical results, a comparative analysis is carried out on the first and last strategic emerging industry listed companies with comprehensive score of financial risk. Finally, based on the analysis of 304 sample companies' comprehensive score of financial risk, combined with the actual situation, the paper puts forward some countermeasures and suggestions on how to prevent the financial risk of strategic emerging industry listed companies.
【学位授予单位】：华侨大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F276.44

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