新三板挂牌企业财务成长性研究

发布时间：2018-03-08 13:46

本文选题：新三板　切入点：财务成长性　出处：《青岛科技大学》2017年硕士论文　论文类型：学位论文

【摘要】：新三板坚持为高科技高成长公司提供投融资平台,试图为中小企业融资难的问题提供解决方案。它不仅仅是搭建一个供非上市股份公司实现股份流通的平台,而且是加强挂牌企业信誉度、优化挂牌企业治理结构、促进挂牌企业私募融资的平台。自新三板开设以来,挂牌企业数量稳步增长。可以说新三板继主板、中小板和创业板之后,逐渐成为我国资本市场的重要组成部分,并在全国范围内得到推广。其实行的挂牌备案制和委托代办股份交易制度则适应这类公司对于资金要求频率高、规模小的融资需求。更重要的是,新三板市场对所有挂牌企业的财务指标等不作硬性要求,但注重企业财务的成长性和企业的创新能力,因此,对挂牌企业财务成长性的研究,具有十分重要的实践意义。在研究过程中,本文以国内外成长理论为依据,形成了对企业财务成长性的一般认识,在此理论基础上,首先介绍了新三板市场的现状及转板情况,从转板原因、转板难度等方面进行统计与分析,然后运用因子分析法,以50家挂牌企业的财务数据为样本进行实证研究,构建指标体系来评价企业财务成长性,并对挂牌企业进行排名,最后,对样本公司的排名情况分别从行业角度、做市商企业角度及各分项能力角度进行综合分析,以期对整个行业财务成长性进行识别,提出有针对性的建议,一方面为企业自身提高成长性提供建议;另一方面,有利于政府监管部门更有针对性的施策;尤其重要的是,还可以为投资者的决策提供帮助与支持。
[Abstract]:The new third board insists on providing investment and financing platforms for high-tech and high-growth companies in an attempt to provide solutions to the problem of financing difficulties for small and medium-sized enterprises. It is not just a platform for non-listed joint stock companies to realize the circulation of shares. Moreover, it is a platform for strengthening the reputation of listed enterprises, optimizing the governance structure of listed enterprises, and promoting private equity financing for listed enterprises. Since the new third board was set up, the number of listed enterprises has steadily increased. It can be said that the new third board follows the main board. After the small and medium-sized board and the growth enterprise market, they gradually become an important part of the capital market of our country, and have been popularized in the whole country. Small financing needs. More importantly, the new third board market does not make rigid demands on the financial indicators of all listed enterprises, but pays attention to the financial growth of enterprises and the innovative ability of enterprises. Therefore, the research on the financial growth of listed enterprises, In the course of the research, based on the growth theory at home and abroad, this paper has formed a general understanding of the financial growth of enterprises. On the basis of this theory, the paper first introduces the current situation of the new third board market and the situation of the new third board market. This paper makes statistics and analysis from the reasons of transferring board and the difficulty of transferring board, then uses factor analysis method, taking the financial data of 50 listed enterprises as the sample to carry on the empirical research, and constructs the index system to evaluate the financial growth of the enterprise. Finally, the ranking of the sample companies is analyzed from the angle of industry, market maker and ability, in order to identify the financial growth of the whole industry. On the one hand, it provides suggestions for enterprises to improve their own growth; on the other hand, it is conducive to more targeted government regulatory measures; especially, it can also provide assistance and support for investors' decision-making.
【学位授予单位】：青岛科技大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51;F275

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