财务可持续增长模型在企业的应用分析——以青岛啤酒为例

发布时间：2018-05-05 02:26

本文选题：财务可持续增长 + 可持续增长模型　；参考：《数学的实践与认识》2015年12期

【摘要】：以希金斯的财务可持续增长模型为理论基础,分析青岛啤酒2004-2013年的增长状况,研究发现:青啤的实际增长速度基本与可持续增长速度保持一致,其增长效率是销售净利率、总资产周转率、权益乘数与留存收益等驱动因素共同作用的结果.研究表明:青啤管理增长中还需要通过不断加强成本控制,增强盈利能力;强化营运资本的投融资管理,提高营运绩效;优化资本结构,控制财务风险;优化股利政策,增强后续融资能力等措施来保障企业的可持续增长.
[Abstract]:Based on Higgins' financial sustainable growth model, this paper analyzes Tsing Tao Beer's growth from 2004 to 2013, and finds that the real growth rate of Tsingtao beer is basically consistent with the sustainable growth rate, and its growth efficiency is the net interest rate of sales. Total asset turnover, equity multiplier and retained earnings and other drivers of the combined effect. The research shows that in the growth of Tsingtao beer, it is necessary to strengthen cost control, enhance profitability, strengthen investment and financing management of working capital, improve operating performance, optimize capital structure, control financial risk, and optimize dividend policy. To enhance the ability of follow-up financing and other measures to protect the sustainable growth of enterprises.
【作者单位】：莆田学院商学院;
【基金】：“福建省教育厅项目(JA14258S,JK2012045) 省级工商管理重点学科资助项目
【分类号】：F406.7;F426.82

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