公路上市公司财务风险分析与控制研究
发布时间：2018-10-26 10:35
【摘要】：当前我国的公路上市公司普遍经营状况良好，但是随着国家收费公路政策的持续调整，以及公路收费期限临近引致的产业转型和投资多元化，部分公路上市公司的净资产收益率下降，资产负债率持续攀升，财务风险问题日益凸显。公路上市公司作为自主经营、自负盈亏、自担风险的市场主体，应当正确评估、分析当前以及未来面临的各项财务风险，研究财务风险控制的对策及具体措施，以达到公司健康、可持续发展的目的。 因此，本文运用委托代理理论、控制论、内部控制理论的思想和方法，对公路上市公司财务风险分析与控制问题进行研究。文章首先归纳分析了国内外有关公路上市公司财务风险分析与控制的理论与实践成果，阐述了本文研究的理论基础以及财务风险的传导机理。其次，结合我国公路上市公司的经营特点和财务风险传导机理，选取了19家公路上市公司近三年的年报数据，利用Z计分模型以及相关财务指标数据对公路上市公司财务风险总体现状及具体表现进行归纳总结，，并运用相关理论从外部和内部两个角度对公路上市公司财务风险的成因进行了全面剖析。最后，结合企业风险管理框架从控制环境、风险评估、控制活、信息沟通以及监控等方面提出了公路上市公司财务风险控制对策及建议，其中运用因子分析法优化公路上市公司财务风险评价模型是重点。本文旨在为公路上市公司财务风险分析与控制提供合理化的建议。
[Abstract]:At present, the listed highway companies in our country are generally in good operating conditions. However, with the continuous adjustment of the national toll road policy and the industrial transformation and diversification of investment caused by the approaching highway toll collection period, The return on net assets of some highway listed companies has declined, the ratio of assets and liabilities has continued to climb, and the financial risk problem has become increasingly prominent. As the main body of the market in which highway listed companies operate independently, be responsible for their own profits and losses and bear their own risks, they should correctly assess and analyze the various financial risks faced by them at present and in the future, and study the countermeasures and specific measures for controlling financial risks. In order to achieve the company's health, sustainable development. Therefore, this article uses the principal-agent theory, the cybernetics, the internal control theory thought and the method, carries on the research to the highway listed company financial risk analysis and the control question. Firstly, the paper summarizes and analyzes the theoretical and practical results of financial risk analysis and control of highway listed companies at home and abroad, and expounds the theoretical basis of this study and the transmission mechanism of financial risks. Secondly, according to the management characteristics and financial risk transmission mechanism of highway listed companies in China, the annual report data of 19 highway listed companies in the past three years are selected. By using Z scoring model and related financial index data, the paper sums up the overall situation and concrete performance of the financial risk of highway listed companies. The causes of financial risk of highway listed companies are analyzed from the external and internal perspectives by using relevant theories. Finally, combined with the enterprise risk management framework, the paper puts forward some countermeasures and suggestions for the financial risk control of highway listed companies from the aspects of control environment, risk assessment, control activity, information communication and monitoring, etc. It is important to optimize the financial risk evaluation model of highway listed companies by factor analysis. The purpose of this paper is to provide reasonable suggestions for financial risk analysis and control of highway listed companies.
【学位授予单位】：长安大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F542.6;F275
本文编号：2295434
[Abstract]:At present, the listed highway companies in our country are generally in good operating conditions. However, with the continuous adjustment of the national toll road policy and the industrial transformation and diversification of investment caused by the approaching highway toll collection period, The return on net assets of some highway listed companies has declined, the ratio of assets and liabilities has continued to climb, and the financial risk problem has become increasingly prominent. As the main body of the market in which highway listed companies operate independently, be responsible for their own profits and losses and bear their own risks, they should correctly assess and analyze the various financial risks faced by them at present and in the future, and study the countermeasures and specific measures for controlling financial risks. In order to achieve the company's health, sustainable development. Therefore, this article uses the principal-agent theory, the cybernetics, the internal control theory thought and the method, carries on the research to the highway listed company financial risk analysis and the control question. Firstly, the paper summarizes and analyzes the theoretical and practical results of financial risk analysis and control of highway listed companies at home and abroad, and expounds the theoretical basis of this study and the transmission mechanism of financial risks. Secondly, according to the management characteristics and financial risk transmission mechanism of highway listed companies in China, the annual report data of 19 highway listed companies in the past three years are selected. By using Z scoring model and related financial index data, the paper sums up the overall situation and concrete performance of the financial risk of highway listed companies. The causes of financial risk of highway listed companies are analyzed from the external and internal perspectives by using relevant theories. Finally, combined with the enterprise risk management framework, the paper puts forward some countermeasures and suggestions for the financial risk control of highway listed companies from the aspects of control environment, risk assessment, control activity, information communication and monitoring, etc. It is important to optimize the financial risk evaluation model of highway listed companies by factor analysis. The purpose of this paper is to provide reasonable suggestions for financial risk analysis and control of highway listed companies.
【学位授予单位】：长安大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F542.6;F275
【引证文献】
相关博士学位论文 前1条
1 高毅;中国农业上市公司财务风险形成机理和控制研究[D];西南大学;2010年
本文编号：2295434
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