我国酒店类上市公司盈利质量评价研究

发布时间：2018-04-19 10:06

本文选题：酒店类上市公司 + 盈利质量　；参考：《湘潭大学》2012年硕士论文

【摘要】：旅游类上市公司按其主营业务收入的主要来源可分为旅游酒店类、旅游景点类和旅游综合类。酒店类上市公司是整个旅游行业上市公司的三大板块之一，在整个旅游业中起着很重要的作用，而公司的盈利质量评价是对公司财务状况的一种分析，是公司能否可持续发展的基础条件。盈利质量评价研究成为国内外学者关注的热点，但是对我国酒店类上市公司的财务方面，特别是盈利质量评价方面的研究成果却极为少见。而酒店类上市公司的财务状况的优劣对企业的生存和发展起着至关重要的作用，是企业能否正常运营的关键。因此对酒店类上市公司的财务状况进行量化研究，具有一定的研究意义。目前国内有不少研究整个上市公司盈利质量的文章，但是由于盈利质量评价过程中需要考虑盈利风险，而不同的行业有不同的风险，因此运用盈利质量评价指标评价上市公司盈利质量时，如果选取相同行业则可以排除难以量化的系统风险和不同行业风险的干扰。盈利质量的特征包括盈利的真实公允性、安全性、持续稳定性、成长性和现金保障性，企业盈利在受企业本身资产状况、财务状况以及收入质量构成等因素影响的同时，也受会计准则、企业的会计政策以及外部市场竞争环境等因素的影响。本文从酒店的盈利质量的特征和影响因素构建了酒店类上市公司盈利质量评价指标，指标体系分为偿债能力指标、发展能力指标、运营能力指标和现金保障能力指标四个指标。酒店类上市公司盈利质量综合得分越高，，代表该年份的酒店盈利质量水平越高；综合得分大于0，说明盈利质量水平高于平均水平，小于0则说明低于盈利质量平均水平。根据综合得分值F的大小可分为以下几类：第一类，酒店类上市公司盈利质量较好（F1），包括锦江股份2010；第二类，盈利质量一般（0F1），包括金陵饭店2009、锦江股份2009、锦江股份2008、金陵饭店2008、金陵饭店2010、华天酒店2009、华天酒店2008；第三类，盈利水平较差（F0），包括华天酒店2010、东方宾馆2010、新都酒店2010、ST东海A2008、东方宾馆2008、ST东海A2009、东方宾馆2009、ST东海A2010、新都酒店2008、新都酒店2009。针对研究反映出来的问题，文章从四个指标体系出发，提出“开展融资经营”、“注重资产管理质量”、“加强成本控制”、“突出主营业绩”、“实行专业化经营”五个关于提高酒店类上市公司盈利质量的对策。
[Abstract]:Tourism listed companies can be divided into tourist hotels, tourist attractions and tourism synthesis according to their main business income.Hotel listed companies are one of the three major sectors of the listed companies in the whole tourism industry, which plays an important role in the whole tourism industry. The profit quality evaluation of the companies is an analysis of the financial situation of the companies.It is the basic condition of the sustainable development of the company.The research on profit quality evaluation has become a hot topic for scholars at home and abroad, but the research results on the financial aspects, especially the profit quality evaluation, of Chinese hotel listed companies are very rare.The financial status of hotel listed companies plays a vital role in the survival and development of enterprises, and is the key to the normal operation of enterprises.Therefore, the quantitative study on the financial situation of hotel listed companies has certain significance.At present, there are many articles on the profit quality of the whole listed company in China. However, due to the need to consider profit risk in the process of profit quality evaluation, different industries have different risks.Therefore, when using the profit quality evaluation index to evaluate the profit quality of listed companies, if the same industry is selected, the system risk and the interference of different industry risks can be eliminated.The characteristics of profit quality include true and fair profit, security, stability, growth and cash support. Profit is affected by assets, financial status and income quality, etc.Also affected by accounting standards, enterprise accounting policies and external market competition environment and other factors.Based on the characteristics and influencing factors of hotel profit quality, this paper constructs the evaluation index of hotel listed company's profit quality. The index system is divided into four indexes: solvency index, development ability index, operation ability index and cash guarantee ability index.The higher the comprehensive score of hotel listed company's profit quality, the higher the hotel profit quality level, the higher the hotel profit quality level is, the higher the comprehensive score is, the higher the profit quality level is, and the less than 0 is lower than the average profit quality level.According to the size of the comprehensive score F, it can be divided into the following categories: first, the hotel listed companies have better profit quality, including Jinjiang stock 2010;General profit quality includes Jinling Hotel 2009, Jinjiang share 2009, Jinjiang Stock 2008, Jinling Hotel 2008, Jinling Hotel 2010, Huatian Hotel 2009, Huatian Hotel 2008;Poor profit level, including Huatian Hotel 2010, Dongfang Hotel 2010, Xindu Hotel 2010 St East China Sea A2008, Dongfang Hotel 2008 St East China Sea A2009, Dongfang Hotel 2009 St East China Sea A2010, Xindu Hotel 2008, Xindu Hotel 2009 9.In view of the problems reflected in the study, the paper puts forward four index systems: "carrying out financing management", "paying attention to the quality of asset management", "strengthening cost control", "highlighting the main business performance",Five measures to improve the profit quality of hotel listed companies.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F275;F719

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