我国航运上市公司风险效率分析
发布时间：2018-11-06 11:28
【摘要】：20世纪以来,航运作为推动世界经济一体化和国际贸易全球化发展的基础性产业,对全球经济的高速增长作出了重大贡献。而我国航运产业已成为国际航运市场上不可忽视的一支力量,在发展同世界各国的经济和贸易中,做出了重大贡献。 2008年以来世界经济经历了较大的变动,次贷危机和欧债危机对全球经济的复苏造成了很大威胁。由于航运业本身是较为特殊的高风险行业,所以这场席卷全球的经济危机也对我国航运业产生了巨大冲击,全行业表现低迷,亏损严重,业绩下降。而航运公司作为现代物流业的重要组成部分,其本身提高行业风险效率、增强抗风险能力,对提高国民经济效益,调整优化产业结构都具有极其重要的意义。故对我国航运上市公司的风险效率评价与改善,对发展行业自身和整个国民经济都有着较为深远的影响。 文章采用数据包络分析(DEA)方法,选取了我国13家航运类上市公司首先进行了基于2010-2012年样本财务指标数据的成本效率测度分析,实现了对我国航运上市公司的效率排名,接着比较分析了我国航运上市公司的成本效率、偿债风险效率和经营风险效率的状况。文章结合了我国航运上市公司的自身经营特点和DEA模型本身对指标数据选择的要求,全而考量之后选取了净资产、固定资产净值、主营业务成本、流动负债、负债总额、应收账款等投入指标,选取了经营活动现金流入、主营业务收入和固定资产周转率等产出指标对航运上市公司进行风险效率的实证分析。并运用MAXDEA5.0软件中的成本效率CCR-DEA模型对各公司风险效率进行测度分析,同时给出各风险效率下我国航运上市公司的量化风险效率管理标杆,具有了一定的实际可操作性。 文章还比较了我国航运上市公司各风险效率结果的均指和方差,实现了航运上市公司风险效率的横向和纵向比较,对我国航运业风险效率状况和公司自身的风险效率变化有了十字型的把握；明确了我国航运上市公司的风险效率现状,找到航运上市公司的风险效率管理标杆,从而制定合理的标杆管理战略,实现航运上市公司风险效率的可持续改进。
[Abstract]:Since the 20th century, shipping, as a basic industry to promote the integration of world economy and the globalization of international trade, has made a great contribution to the rapid growth of the global economy. China's shipping industry has become a force that can not be ignored in the international shipping market, and has made great contributions to the development of economy and trade with other countries in the world. The world economy has experienced great changes since 2008, and the subprime mortgage crisis and the European debt crisis have posed a great threat to the recovery of the global economy. The shipping industry itself is a special high-risk industry, so the global economic crisis has also had a huge impact on China's shipping industry, the performance of the whole industry is low, serious losses, performance decline. As an important part of the modern logistics industry, shipping companies themselves improve the efficiency of the industry risk, enhance the ability to resist risks, to improve the efficiency of the national economy, adjust and optimize the industrial structure are of great significance. Therefore, the evaluation and improvement of the risk efficiency of listed shipping companies in China has a profound impact on the development of the industry itself and the national economy as a whole. In this paper, 13 listed shipping companies in China are selected to measure the cost efficiency based on the sample financial index data of 2010-2012 by using the method of data Envelopment Analysis (DEA), and the efficiency ranking of the listed shipping companies in China is realized. Then, the cost efficiency, debt repayment risk efficiency and operating risk efficiency of listed shipping companies in China are compared and analyzed. This paper combines the management characteristics of China's listed shipping companies and the requirements of the DEA model for the selection of index data. After all, it selects net assets, net fixed assets, main business costs, current liabilities, total liabilities. Based on the input indicators such as accounts receivable, the paper analyzes the risk efficiency of listed shipping companies by selecting the output indicators such as cash inflow of business activities, main business income and turnover rate of fixed assets. The cost efficiency CCR-DEA model of MAXDEA5.0 software is used to measure and analyze the risk efficiency of each company. At the same time, the quantitative risk efficiency management benchmark of China's listed shipping companies under each risk efficiency is given, which has certain practical maneuverability. The paper also compares the mean index and variance of the risk efficiency results of the listed shipping companies in China, and realizes the horizontal and vertical comparison of the risk efficiency of the listed shipping companies. The risk efficiency of China's shipping industry and the risk efficiency of the company itself has a cross-type grasp; The present situation of risk efficiency of listed shipping companies in our country is clarified, and the risk efficiency management benchmark of listed shipping companies is found, so as to formulate a reasonable benchmarking management strategy and realize the sustainable improvement of risk efficiency of listed shipping companies.
【学位授予单位】：大连海事大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F552.6
本文编号：2314138
[Abstract]:Since the 20th century, shipping, as a basic industry to promote the integration of world economy and the globalization of international trade, has made a great contribution to the rapid growth of the global economy. China's shipping industry has become a force that can not be ignored in the international shipping market, and has made great contributions to the development of economy and trade with other countries in the world. The world economy has experienced great changes since 2008, and the subprime mortgage crisis and the European debt crisis have posed a great threat to the recovery of the global economy. The shipping industry itself is a special high-risk industry, so the global economic crisis has also had a huge impact on China's shipping industry, the performance of the whole industry is low, serious losses, performance decline. As an important part of the modern logistics industry, shipping companies themselves improve the efficiency of the industry risk, enhance the ability to resist risks, to improve the efficiency of the national economy, adjust and optimize the industrial structure are of great significance. Therefore, the evaluation and improvement of the risk efficiency of listed shipping companies in China has a profound impact on the development of the industry itself and the national economy as a whole. In this paper, 13 listed shipping companies in China are selected to measure the cost efficiency based on the sample financial index data of 2010-2012 by using the method of data Envelopment Analysis (DEA), and the efficiency ranking of the listed shipping companies in China is realized. Then, the cost efficiency, debt repayment risk efficiency and operating risk efficiency of listed shipping companies in China are compared and analyzed. This paper combines the management characteristics of China's listed shipping companies and the requirements of the DEA model for the selection of index data. After all, it selects net assets, net fixed assets, main business costs, current liabilities, total liabilities. Based on the input indicators such as accounts receivable, the paper analyzes the risk efficiency of listed shipping companies by selecting the output indicators such as cash inflow of business activities, main business income and turnover rate of fixed assets. The cost efficiency CCR-DEA model of MAXDEA5.0 software is used to measure and analyze the risk efficiency of each company. At the same time, the quantitative risk efficiency management benchmark of China's listed shipping companies under each risk efficiency is given, which has certain practical maneuverability. The paper also compares the mean index and variance of the risk efficiency results of the listed shipping companies in China, and realizes the horizontal and vertical comparison of the risk efficiency of the listed shipping companies. The risk efficiency of China's shipping industry and the risk efficiency of the company itself has a cross-type grasp; The present situation of risk efficiency of listed shipping companies in our country is clarified, and the risk efficiency management benchmark of listed shipping companies is found, so as to formulate a reasonable benchmarking management strategy and realize the sustainable improvement of risk efficiency of listed shipping companies.
【学位授予单位】：大连海事大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F552.6
【参考文献】
相关期刊论文 前10条
1 惠玉蓉;董千里;;基于数据包络分析(DEA)的物流业可持续发展有效性评价[J];北京交通大学学报(社会科学版);2008年03期
2 韩晶;;基于SFA方法的中国制造业创新效率研究[J];北京师范大学学报(社会科学版);2010年06期
3 胡颖;叶羽钢;;基于DEA方法的中外(合)资保险公司效率比较[J];南方金融;2007年06期
4 刘敬严;;超效率DEA模型及灵敏度分析在标杆管理中的应用[J];工业工程;2008年04期
5 何枫;;基于DEA和SFA评价的企业效率与企业价值之联结性研究——以中日电器行业上市公司为样本[J];管理学报;2009年07期
6 王恩旭;武春友;;基于超效率DEA模型的中国省际生态效率时空差异研究[J];管理学报;2011年03期
7 钟祖昌;;考虑环境效应和随机误差的中国港口技术效率分析——基于三阶段DEA模型的测度[J];福建师范大学学报(哲学社会科学版);2013年02期
8 康晓_g;;大洋航运公司关键绩效指标体系的建立[J];世界海运;2006年03期
9 隋军;王彬;;中海集运竞争环境分析及应对策略[J];世界海运;2008年03期
10 罗登跃;基于DEA的商业银行效率实证研究[J];管理科学;2005年02期
相关博士学位论文 前1条
1 匡海波;中国港口效率测度研究[D];大连理工大学;2007年
相关硕士学位论文 前1条
1 竺媛媛;基于DEA和Malmquist法的航运上市公司效率实证研究[D];大连海事大学;2011年
，本文编号：2314138
本文链接：https://www.wllwen.com/jingjilunwen/jtysjj/2314138.html
