WN电力企业财务风险评价研究

发布时间：2018-03-22 15:13

本文选题：电力企业　切入点：财务风险评价　出处：《安徽大学》2014年硕士论文　论文类型：学位论文

【摘要】：随着市场竞争的日趋激烈,企业经营活动中的不确定性因素不断增加,企业陷入金融风险和财务危机的可能性越来越大,但是财务风险是在企业追求利润过程中无法回避和消除的客观存在,因此积极的评价企业财务风险、采取适当的措施防范和控制企业财务风险,是企业长期稳定发展的基础。电力企业为我国国民经济的支柱产业,其经济稳定性对整个国家或地区的经济发展与进步有重要的影响。随着电力体制改革的不断发展,电力企业逐步由垄断向市场化发展,其财务风险也在不断加大,2002年颁布《国务院关于印发电力体制改革方案的通知》,引入市场竞争机制,打破传统的垄断经营模式,使电力企业逐步走向市场化,并且2005年颁布《电力监管条例》、《电力市场监管办法》等市场监管方案,这使电力企业面临来自市场竞争压力和科学合理的管制政策带来的双重挑战,这无疑给电力企业带来许多方面的财务风险。电力企业的盈利水平与国家政策息息相关,具有较大的不可控性,电力企业的效益源头即为电价政策,2007年颁布的《跨区域输电价格审核暂行规定》、2010年颁布的《电价监督检查暂行规定》以及2012年颁布的关于调整电网电价的一系列通知,标志着电价改革的开始,随着政府对电价的限制,将对电力企业的收益带来巨大影响,对企业造成财务风险。并且人民对节能环保愈加关注,为了防治火电厂大气污染物排放造成的污染,促进技术进步和电力企业的可持续发展,环境保护部国家质量监督检查检疫总局于2012年发布新的《火电厂大气污染物排放标准》,在火电企业普遍亏损的情况下,为了达到如此严格的节能减排标准,势必给企业增加了额外的负担,增大陷入财务危机的可能性。因此,科学合理的评价电力企业的财务风险,对电力企业持续稳定发展具有重要意义。本文研究主要包括五个部分：第一部分简要概述了研究背景及意义,对国内外研究成果进行梳理、概述和总结；第二部分对财务风险及评价的相关概念进行界定和明确；第三部分对电力企业特点进行概括,分析电力企业财务风险影响因素,识别电力企业财务风险,着重介绍产业政策对电力企业财务风险的影响；第四部分对WN电力进行概述,结合电力企业的特点、依据财政部等机构联合印发的《国有资本金绩效评价指标体系》为基础,选择合适的风险评价指标,结合层次分析法的基本原理构建财务风险评价模型,对WN电力的财务风险进行评价；最后,根据实证的结果提出本文的主要结论,并提出相应建议及展望。本文可能的创新点在于：(1)研究内容创新。由于电力企业的特殊性,其财务风险影响因素除了传统的内部因素、外部因素,电力企业受产业政策的影响较大,如电力体制改革、环境保护政策、电价政策等,因此,本文在分析财务风险影响因素时,着重分析产业政策对财务风险的影响；本文在评价指标体系的选择上,结合电力企业的特点、依据财政部等机构联合印发的《国有资本金绩效评价指标体系》,选择合适的财务风险评价指标体系,并且在指标权重确定方面,考虑产业政策对财务风险所产生的影响。(2)实证方法创新。本文选择WN电力2010年-2012年的财务报表数据进行分析,从公司特点入手,选择合适的财务风险评价指标体系,运用层次分析法的基本原理构建财务风险评价模型,利用该模型对WN电力的财务风险进行评价。
[Abstract]:With the increasingly fierce market competition, uncertain factors in the business activities of enterprises is increasing, the possibility of enterprises in financial risk and financial crisis is more and more big, but the financial risk is in the pursuit of business and the elimination of the inevitable objectivity of profit, so the evaluation of enterprise financial risk actively, take appropriate measures to prevent and control the financial risks of enterprise, is the basis for long-term stable development of enterprises.
The electric power enterprises as the pillar industry of our national economy, has an important influence on the economic stability and economic development and progress of the whole country or region. With the continuous development of power system reform, electric power enterprises gradually from monopoly to market development, the financial risks are also increasing, in 2002 promulgated the notice issued by the State Council for < > the electric power system reform, the introduction of market competition mechanism, breaking the traditional monopoly model, so that the power enterprises gradually move towards the market, and in 2005 promulgated the "Electricity Regulatory Ordinance > >, < electric power market supervision measures such as market regulation scheme, the power enterprises are facing the dual challenges from market competition and the scientific and reasonable control policy and this will undoubtedly bring many aspects of the financial risk to electric power enterprises.
The profit level of power enterprises is closely linked with the national policy, is not controllable large, efficiency of electric power enterprises is the source of price policy, the interim provisions promulgated 2007 "cross regional transmission price audit", 2010 promulgated the Interim Provisions on the "price supervision and inspection and issued in 2012 on the adjustment of grid electricity price in a series of circular mark to start with the price reform, with government restrictions on electricity, will bring great influence to the electric power enterprise income, caused by the financial risk of the enterprise.
And people pay more attention to energy saving and environmental protection, in order to cause the atmospheric pollutants emission of thermal power plant pollution control, technological progress and promote the sustainable development of electric power enterprises, the environmental protection department of the national quality supervision and inspection and Quarantine Bureau issued a "thermal power plant air pollutant emission standards for new" in 2012, widespread losses in thermal power enterprise, in order to meet the standards such a strict energy-saving emission reduction, enterprises is bound to an additional burden, increase the possibility of financial crisis.
Therefore, the scientific and rational evaluation of the financial risk of the electric power enterprises is of great significance for the continuous and stable development of the power enterprises.
This paper mainly includes five parts: the first part briefly introduces the research background and significance, the research results at home and abroad were reviewed, summarized and concluded the definition and clear; the second part related concepts of financial risk and evaluation; the third part summarizes the characteristics of power enterprises, analysis the influencing factors of financial risk in electricity enterprises, financial risk identification of power enterprises, focuses on the influence of industrial policy on the financial risk of power enterprises; the fourth part is the outline of WN power, combined with the characteristics of electric power enterprises, on the basis of "the evaluation index system of the state-owned capital performance jointly issued the Ministry of Finance and other institutions" as the basis, select the appropriate risk evaluation indicators, combined with the basic construction of financial risk evaluation model the principle of AHP method, the evaluation of WN power of the financial risk; finally, according to the empirical results this paper puts forward the main node On the other hand, some suggestions and prospects are put forward.
The innovation of this paper lies in: (1) the research content innovation. Because of the particularity of electric power enterprises, the financial risk factors in addition to the traditional influence of internal factors, external factors, electric power enterprises are influenced by the industrial policy, such as the electric power system reform, environmental protection policy, price policy, therefore, based on the analysis of financial factors the influence of risk, emphatically analyzes the influence of industrial policy on financial risk; the evaluation index system of choice, combined with the characteristics of electric power enterprises, on the basis of the state-owned capital performance evaluation index system of the Ministry of Finance jointly issued "institutions such as <, select the appropriate financial risk evaluation index system, and to determine the index weight. Considering the influence of industrial policy on financial risk. (2) the empirical data of the financial statements of the method of innovation. This paper chooses WN power in 2010 -2012 years of analysis, starting from the characteristics of the company, Select the appropriate financial risk evaluation index system, use the basic principles of AHP to build a financial risk assessment model, and use this model to evaluate the financial risk of WN power.

【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F426.61;F275

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