华东地区涉农上市企业财务风险控制研究

发布时间：2018-01-12 07:16

本文关键词：华东地区涉农上市企业财务风险控制研究　出处：《浙江农林大学》2014年硕士论文　论文类型：学位论文

【摘要】：农业是国民经济的基础。涉农企业通过资本市场筹集发展资金，加大投资力度，促进自身企业发展和农业产业结构的调整升级。华东地区工商业发展迅猛，经济水平远高于全国其他地区，市场开放程度高，竞争激烈。在严峻的市场竞争中，缺乏政府长期有效支持的华东地区涉农企业近年来普遍处于业绩滑坡，多元化经营失败等运作困局。研究表明，华东地区涉农企业经营业绩逐年下降的重要原因有：企业缺乏风险意识，没有形成适应于企业生产经营特点的财务风险控制体系；政府支持不足，企业无法获得长期资金支持；政府监管缺位，企业多元化投资决策盲目冒进。本研究以华东地区涉农上市企业2008 2012年财务报表为原始数据，从净资产收益率、每股收益、资产利润率、总资产周转率、资产负债率等角度分析华东地区涉农上市企业的财务风险现状，从政府和企业两方面分析该地区涉农企业财务风险形成的原因，并采用定性和定量相结合的方法，识别华东地区涉农企业在其经济活动中的财务风险。研究选取12个财务指标建立基于因子分析原理的华东地区涉农企业财务风险控制模型，采用方差最大化正交旋转，在五个观察年份内分离出各自的运营主因子、盈利主因子、发展主因子、结构主因子和偿债主因子，计算得到2008 2012年华东地区各涉农上市企业的综合绩效分数，并根据排名波动情况论述分析华东地区各涉农上市企业的财务风险状况。研究进一步提出适应于华东地区涉农企业融资、投资、运营、利润分配、担保、关联交易等经济活动的财务风险控制基本思路和具体措施。华东地区涉农企业财务风险的控制须明确风险来源和控制主体，实行“事前防范、事中控制，事后总结”的财务风险控制总体思路，企业、政府联动控制。对于投资融资风险，政府应当优化审批机制，在宏观上降低投资融资这一经济行为的风险；对于运营风险，企业应树立风险管控理念，科学管理、高效运营，投入产出合理匹配，，增强抗风险意识。研究得出的华东地区涉农企业财务风险现状、形成原因、评估手段、控制思路和具体措施对于华东地区涉农企业转变生产方式、改进运营模式、重视风险控制，增加企业经济效益，提高企业可持续发展能力具有实践指导意义。
[Abstract]:Agriculture is the foundation of the national economy. Agricultural enterprises raise development funds through the capital market, increase investment, promote the development of their own enterprises and the adjustment and upgrading of agricultural industrial structure. The economic level is far higher than the other regions of the country, the market opening degree is high, the competition is fierce. In the severe market competition, in the severe market competition, the agricultural enterprises in East China that lack the long-term effective support of the government are generally in the decline of performance in recent years. The study shows that the main reasons for the decline of the performance of agricultural enterprises in East China are the lack of risk awareness. There is no financial risk control system adapted to the characteristics of enterprise production and operation; Insufficient government support, enterprises can not obtain long-term financial support; Lack of government supervision, enterprise diversification investment decision blindly forward. This study takes the financial statements of agricultural listed enterprises in East China in 2012 as the original data, from the return on net assets, earnings per share, profit margin of assets, total asset turnover. This paper analyzes the present situation of financial risk of agricultural listed enterprises in East China from the angle of asset-liability ratio, and analyzes the reasons for the formation of financial risk of agricultural enterprises in this region from the two aspects of government and enterprise. The qualitative and quantitative methods were used. The financial risk of agricultural enterprises in East China is identified. Twelve financial indexes are selected to establish the financial risk control model of agricultural enterprises in East China based on the principle of factor analysis. Using the orthogonal rotation of maximization of variance, the main factors of operation, profit, development, structure and debt repayment were separated in five observed years. In 2012, the comprehensive performance scores of agricultural listed enterprises in East China were calculated. According to the status of ranking fluctuation, this paper analyzes the financial risk of agricultural listed enterprises in East China. The research further puts forward a suitable for the financing, investment, operation, profit distribution and guarantee of agricultural enterprises in East China. The basic ideas and concrete measures of financial risk control in economic activities such as related party transactions. The control of financial risk of agricultural enterprises in East China must be clear about the source of risk and the main body of control, and carry out "precaution in advance, control in the matter". Summing up the overall idea of financial risk control, enterprise and government linkage control. For investment financing risk, the government should optimize the examination and approval mechanism to reduce the risk of the economic behavior of investment financing macroscopically; For operational risk, enterprises should set up the concept of risk control, scientific management, efficient operation, reasonable matching of input and output, and enhance the awareness of anti-risk. The present situation of financial risk of agricultural enterprises in East China, the reasons for its formation, the means of evaluation, the control ideas and the concrete measures for the transformation of production mode and the improvement of operation mode for agricultural enterprises in East China are obtained. It is of practical significance to attach importance to risk control, increase the economic benefit of enterprises and improve the ability of sustainable development of enterprises.
【学位授予单位】：浙江农林大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F302.6;F324

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