我国创业板上市公司成长性研究

发布时间：2018-01-04 06:00

本文关键词：我国创业板上市公司成长性研究　出处：《东北石油大学》2014年硕士论文　论文类型：学位论文

更多相关文章： 创业板 上市公司 成长性 因子分析

【摘要】：随着我国经济的快速发展，具有高成长、高技术型中小企业已成为推动经济发展的重要力量，应该得到国家高度的重视，但他们却一直面临“融资难”的问题。在经过多年筹备后，，在2009年10月，我国创业板终于正式推出。我国创业板的上市，进一步完善了我国多层次资本市场，满足了广大投资者多样化的投资需求，解决了众多中小企业的融资困难，促进成长性、高技术型的中小企业健康稳步成长。因此，通过构建一套相对公正客观的评价模型，对创业板上市公司的成长性进行了分析和评价，有利于促进我国创业板上市公司的整体质量的提高，推动创业板市场的健康持续发展。本文首先回顾并总结了国内外学者对创业板上市公司成长性的研究现状，阐述了企业成长的相关理论知识，为后文奠定了良好的理论基础。然后分析了我国创业板上市公司的发展现状，以便了解企业成长性的总体情况。其次，本文从内部、外部角度分析了影响企业成长的主要因素。但由于外部因素很难量化、评价起来主观性较强，而内部因素对企业成长起着决定性作用，因此本文主要从企业的财务能力、企业发展能力以及企业创新能力等内部因素中选取了15个相关的财务和非财务性指标，构建了一套较为全面客观的评价模型，并以创业板的70家上市公司为样本，根据样本企业2012年的数据，采用因子分析法对其成长性进行分析和评价。得出样本企业的盈利能力、发展能力、营运能力、偿债能力、创新能力5个主因子的得分以及各上市公司的综合得分，并进行排名，以便了解我国创业板上市公司的整体成长状况。结论显示：从整体成长状况来说，我国创业板上市企业的成长性差异较大，整体成长水平较低，有待提高和完善，尤其是企业的创新能力明显不足，创新能力有待进一步提高。最后，本文为推动我国创业板市场上市公司进一步成长提出一些相关性的对策，有利于上市公司找出自身的不足，为更好地推动我国创业板上市公司的健康持续发展奠定了良好的基础。
[Abstract]:With the rapid development of China's economy, high growth, high tech SMEs have become an important force to promote economic development, should get national attention, but they have been facing the problem of financing difficulty. After years of preparation, in October 2009, China's gem finally officially launched in China. The GEM market, to further improve the multi-level capital market in China, to meet the diverse investment needs of investors, to solve the financing difficulties of many small and medium-sized enterprises, to promote the growth of high tech SMEs healthy and steady growth. Therefore, by constructing a relatively fair and objective evaluation model, analysis and the evaluation of the growth of gem listed companies, is conducive to the promotion of the overall quality of China's GEM listed companies to improve, promote the healthy development of the GEM market.
This paper first reviews and summarizes the research status both at home and abroad on the growth of GEM listed companies, describes the relevant theoretical knowledge of enterprise growth, as the theoretical basis of the laid a good. And then analyzes the current development of China's GEM listed companies, in order to understand the overall situation of enterprise growth. Secondly, this paper from the internal, external analysis of the main factors affect the enterprise growth. But because of the external factors is difficult to quantify the evaluation of subjectivity, while the internal factors play a decisive role on the growth of enterprises, this article mainly from the financial capacity of enterprises, the internal factors of enterprise development ability and the innovation ability of enterprises in selecting 15 related the financial and non-financial indicators, and constructs a set of evaluation model objectively, and to 70 GEM listed companies as the sample, according to the number of sample enterprises in 2012 According to the analysis and evaluation of its growth by using factor analysis method. It is proved that the enterprise's profit ability, development ability, operation ability, solvency, comprehensive innovation ability score 5 main factor scores and each of the listed company, and the rank, in order to understand the whole of China's GEM listed company's growth. The conclusion shows: from the overall growth conditions, growth difference of China's GEM listed companies is large, the overall growth of low level needs to be improved and perfected, especially the innovation ability of the enterprise is obviously insufficient, innovation ability needs to be improved. Finally, this paper is to promote China's GEM listed companies to grow further countermeasures some correlation, help the listed company to identify its own deficiencies, and laid a good foundation for promoting China's GEM listed company's sustainable development.

【学位授予单位】：东北石油大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51

【共引文献】