基于突变级数法的体育产业上市公司成长性评价研究

发布时间：2018-05-01 07:11

本文选题：上市公司 + 成长性　；参考：《武汉体育学院》2017年硕士论文

【摘要】：随着健康中国建设的不断落实,消费者的健康观念普遍提升。对于大中型城市的消费者来说,他们的休闲娱乐的时间越来越多,并且他们对游泳、瑜伽、羽毛球、乒乓球等体育运动的热情持续升温。在此基础之上发展体育产业,不仅有利于提高中华民族的身体素质,而且有利于扩大内需,在我国经济“新常态”时期,为国家培育新的经济增长点。本文选取中国体育产业中规模较大的上市公司为研究对象,以国内上市的15家公司在2013年至2016年的半年报财务数据作为研究样本。首先基于企业成长性理论,采用文献法选取影响公司成长性较大的财务指标,构建体育产业上市公司成长性评价指标体系;然后运用突变级数法处理相关数据得到体育产业上市公司成长性综合排名表并进行成长性评价,划分体育产业上市公司成长性类别;最后论述本文的主要结论并提出提高公司成长性的建议。研究发现:(1)长期位居香港证券交易所体育产业类上市公司成长性排名前四位的公司分是安踏体育、宝胜国际、浩沙国际、特步国际。长期位居上海证券交易所和深圳证券交易所体育产业类上市公司成长性综合排名前三位的是探路者、青岛双星和恺英网络。大多数体育产业上市公司在发展、盈利、偿债和运营四项能力上,只有其中一项或几项表现较好,即绝大多数公司在成长性上发展不均衡,国内15家体育产业上市公司只有安踏体育在四项能力均值上都达到较好的排名。(2)在所选的15家样本中有34%的体育产业公司在近4年保持较好的总体发展态势。(3)成长性较好的7家上市公司在成长效率维度表现较差,在成长质量维度和成长速度维度表现较好;而成长性较差的8家上市公司在成长质量维度和成长速度维度表现较差,在成长效率维度表现较好。(4)本文将体育产业上市公司成长性分为四个类型,分别是平稳正增长型、波动正增长型、平稳负增长型和波动负增长型。属于平稳正增长型的上市公司有4家,属于波动正增长型的有1家,属于平稳负增长型的有4家,属于波动负增长型的有6家。(5)通过对2013年至2016年的半年报财务数据进行分析,本文认为在上海证券交易所和深圳证券交易所中体育产业类上市公司的成长性整体处于下降阶段,而香港证券交易所中体育产业类上市公司的成长性整体处于上升阶段。
[Abstract]:With the continuous implementation of healthy China construction, consumer health concept is generally improved. For large and medium-sized city consumers, their leisure time is increasing, and their enthusiasm for swimming, yoga, badminton, table tennis and other sports continues to heat up. On this basis, the development of sports industry is not only conducive to improving the physical quality of the Chinese nation, but also conducive to the expansion of domestic demand, in the "new normal" period of China's economy, for the country to cultivate a new economic growth point. In this paper, the larger listed companies in the sports industry in China are selected as the research objects, and the financial data of 15 listed companies in China from 2013 to 2016 are taken as the research samples. Firstly, based on the theory of enterprise growth, using the literature method to select the financial indicators that affect the growth of the company, and to construct the evaluation index system of the growth of the listed companies in sports industry. Then using the sudden change series method to deal with the relevant data to obtain the sports industry listed companies growth comprehensive ranking table and the growth evaluation, divided the sports industry listed companies growth categories; Finally, this paper discusses the main conclusions and puts forward suggestions to improve the growth of the company. The study found that the top four companies in the long list of listed sports companies on the Hong Kong Stock Exchange are Anta Sports, Baosheng International, Haosha International, and step International. Long standing in the Shanghai Stock Exchange and Shenzhen Stock Exchange sports industry listed companies in the top three comprehensive growth is the road finder, Qingdao Shuangxing and Kai Ying Network. Most listed companies in the sports industry perform better in terms of development, profitability, debt service and operation, only one or more of them perform better, that is, the vast majority of companies develop unevenly in terms of growth. China's 15 listed sports industry companies only Anta Sports on the average of the four ability to achieve a better ranking. 2) in the selected 15 samples of 34% of the sports industry companies in the past four years to maintain a better overall development trend. The growth efficiency of the seven listed companies with a long and good performance is not good in the dimension of growth efficiency. In the dimension of growth quality and growth rate, the performance of the eight listed companies with poor growth is poor in the dimension of growth quality and growth rate. The growth of listed companies in sports industry is divided into four types: stable positive growth, fluctuating positive growth, stable negative growth and fluctuating negative growth. There are four listed companies with stable and positive growth, one with positive volatility, four with stable and negative growth, and six with negative volatility. This paper holds that the growth of sports industry listed companies in Shanghai Stock Exchange and Shenzhen Stock Exchange is at the stage of decline, while that of sports industry listed companies in Hong Kong Stock Exchange is on the rise.
【学位授予单位】：武汉体育学院
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：G80-05

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