基于财务视角的乳业上市公司成长性研究

发布时间：2018-01-04 08:30

本文关键词：基于财务视角的乳业上市公司成长性研究　出处：《西北农林科技大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着生活水平的提升,人们对健康、营养等各方面重视程度越来越高,乳制品消费已经成为中国家庭普遍性的日常消费。在国家政策的支持和鼓励下,我国乳业行业发展迅速,乳制品消费量也大幅增加。而乳业上市公司在行业中占据主导地位,其能否稳定健康成长决定着行业的发展和兴衰。因此研究乳业上市公司的企业成长性对于了解整个乳业行业的发展有着重要意义。目前,国内外学者对企业成长性的研究较多,国外学者注重企业成长理论的研究,国内学者更注重采取实证方法对各领域的企业成长性进行评价,专门研究乳业上市公司成长性的文献有限,本文对乳业上市公司的成长性进行研究。为了保证研究的客观性,摒除可能存在主观因素的定性指标,本文从财务视角出发,运用与成长性有关的财务数据对乳业上市公司的成长性进行研究。首先,本文在对相关文献进行梳理的基础上,对企业的成长性进行界定,对相关理论进行阐述;其次,结合乳业行业发展现状和行业特点,从财务视角出发,构建评价乳业上市公司企业成长性的指标体系,为了保证研究的全面性和客观性,本文选取了反映企业增长能力、获利能力、资金运营能力、市场预期能力、规模能力和发展能力六个维度的15项指标;最后,选取符合研究条件的16家乳业上市公司,获取2012-2014年的财务数据,运用SPSS22.0软件进行了因子分析,提取反映企业成长性的6项因子并进行命名,计算企业在各因子上的得分和总得分,然后进行了排名和分析。在分析的基础上,结合实际情况提出了未来发展的一些建议,以期能够促进行业健康持续发展。研究表明,我国乳业上市公司总体成长状况良好,大多数企业属于高速成长和较高速成长企业,但企业间发展差距较大,且企业内部各项能力发展也不均衡,此外本文还发现,创新能力对乳业上市公司的发展而言十分重要。乳业企业的成长性主要体现在企业发展能力、规模能力、创新能力、营运能力、盈利能力以及资产扩张能力上,这几个方面的能力共同决定了企业的发展性,仅凭其中几个能力较强,不能获得整体较高的成长性。
[Abstract]:With the improvement of living standards, people pay more and more attention to health, nutrition and other aspects. Dairy products consumption has become a common daily consumption of Chinese families. With the support and encouragement of national policies. The dairy industry in China has developed rapidly and the consumption of dairy products has also increased significantly. The listed dairy companies play a leading role in the industry. Its stability and healthy growth determines the development and rise and fall of the industry. Therefore, it is of great significance to study the enterprise growth of listed dairy companies to understand the development of the whole dairy industry. Domestic and foreign scholars pay more attention to the research of enterprise growth, foreign scholars pay attention to the research of enterprise growth theory, and domestic scholars pay more attention to taking empirical methods to evaluate the growth of enterprises in various fields. The literature on the growth of dairy listed companies is limited. This paper studies the growth of listed dairy companies. In order to ensure the objectivity of the research, the qualitative indicators that may exist subjective factors are excluded. From the financial perspective, this paper uses the financial data related to growth to study the growth of listed dairy companies. First, this paper combs the relevant literature on the basis of. Define the growth of enterprises, explain the relevant theories; Secondly, combined with the current situation and characteristics of dairy industry development, starting from the financial perspective, this paper constructs an index system to evaluate the growth of listed dairy companies, in order to ensure the comprehensiveness and objectivity of the research. This paper selects 15 indexes which reflect the growth ability, profit ability, capital operation ability, market expectation ability, scale ability and development ability of the enterprise. Finally, select 16 listed dairy companies that meet the requirements of the research, obtain the financial data of 2012-2014, and use SPSS22.0 software to carry out factor analysis. The six factors reflecting the growth of the enterprise are extracted and named, the scores and the total scores of each factor are calculated, and then the ranking and analysis are carried out on the basis of the analysis. Combined with the actual situation, some suggestions for future development are put forward in order to promote the healthy and sustainable development of the industry. The research shows that the overall growth of dairy listed companies in China is good. Most enterprises belong to high-speed growth and high-speed growth enterprises, but the gap between the development of enterprises, and the development of internal capabilities is not balanced, in addition, this paper also found. Innovation ability is very important to the development of listed dairy companies. The growth of dairy enterprises is mainly reflected in the ability of enterprise development, scale ability, innovation ability, operation ability, profitability and asset expansion ability. These capabilities together determine the development of the enterprise, only on the basis of a few strong ability, can not obtain the overall higher growth.
【学位授予单位】：西北农林科技大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51;F426.82;F406.7

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