我国医药制造企业财务风险控制研究

发布时间：2018-01-26 22:53

本文关键词： 医药制造业财务风险控制 Z值模型　出处：《山东大学》2014年硕士论文　论文类型：学位论文

【摘要】：医药制造业现阶段作为我国的重要产业之一,对我国的经济增长起着关键性的作用,因为健康越来越受到国家及人民的关注,而作为健康产业中的基础产业,医药制造业的发展也备受国家的关注。其是指将原材料进行物理或者化学变化成为新的医药类产品的过程,涵盖了较广的范围,包括中西药制造,兽用药品还包含医药原药及卫生材料。虽然其在我国的起步较晚,但在我国的发展中起着无足轻重的作用,也是我国在改革中特别关注的问题之一,这不仅关系到医药制造业自身的发展,更是关系到民生健康的大计。处于现阶段的医药制造业,发展现状主要表现为下面三点：该类型的企业从总体上来说创新能力有限；医药产品以普通的药物为主且技术含量较低；缺乏自主知识产权的产品。在这样的环境下,医药制造企业如何避免陷入财务危机,在发现财务风险问题时如何进行有效地控制是医药制造企业在发展过程中面对的重要问题之- 财务风险,对于一个企业的生产经营过程,是一种微观的经济风险,它的存在伴随着企业生产经营活动的每一个环节,它的产生是预测结果和实际的生产结果产生的背离。在复杂多变的市场环境中,财务风险问题对每一家企业的生产经营过程以及利润水平都会起到关键性的作用,所以企业做好事前,事中及事后的财务风险问题是极为关键的,这样企业才能在激烈的市场竞争中取得不错的成绩。论文的研究采用理论与实证研究相结合的方法。在理论方面,主要对我国医药制造业企业存在的财务风险特点以及形成机制进行了分析。在实证方面,首先,对2006—2013年我国医药制造业的总体发展进行了财务指标分析,分析结果显示医药制造业的盈利能力在趋于平稳,偿债能力也趋于平稳,但营运能力却有所提高。其次,论文还对2009—2013年我国上市的62家医药制造企业进了财务风险评估(为剔除2008年金融危机对各行业造成的影响)。在对企业进行财务风险分析与评估时,选取适当的模型是很重要的,由Altman在1968年提出的多变量财务预警模型——Z值模型是评估企业财务风险的经典方法之一,其主要特点是客观准确,便于计算,且计算所需的数据都可以在企业的财务报表中查找到,具有较强的操作性。通过对研究样本的财务数据进行评估,评估结果显示4个子行业虽然整体财务状况良好,但不同企业之间财务状况存在明显差异,论文的关键在于通过分析结果指出医药制造企业在今后的经营过程中应该如何防范和控制财务风险,医药制造业不仅要借鉴所有行业中比较常用的财务风险控制措施外,还要制定与实施符合自身行业特点的控制财务风险的方法,例如采取适当的营销方式来提高主营业务收入,以及开发企业自身的拳头产品来提高企业在该行业的竞争力,以达到控制财务风险的目的。
[Abstract]:As one of the important industries in our country, the pharmaceutical manufacturing industry plays a key role in the economic growth of our country at the present stage, because the health is paid more and more attention by the country and the people, and it is the basic industry in the health industry. The development of pharmaceutical manufacturing industry is also concerned by the country. It refers to the physical or chemical changes of raw materials into new pharmaceutical products, covering a wide range, including the manufacture of Chinese and western medicine. Veterinary medicine also contains raw medicine and sanitary materials. Although it started late in our country, it plays an insignificant role in the development of our country, and it is also one of the problems that our country pays special attention to in the reform. This is not only related to the development of the pharmaceutical manufacturing industry itself, but also related to the health of the people's livelihood, at the present stage of the pharmaceutical manufacturing industry. The present situation of development mainly shows the following three points: the innovation ability of this type of enterprise is limited in general; The medical products are mainly ordinary drugs and the technical content is low; Lack of independent intellectual property products. In such an environment, pharmaceutical manufacturers how to avoid falling into financial crisis. How to control the financial risk effectively is one of the most important problems in the development of pharmaceutical manufacturing enterprises. Financial risk, for an enterprise's production and operation process, is a kind of micro-economic risk, its existence is accompanied by every link of the enterprise's production and management activities. Its production is the deviation between the forecast result and the actual production result, in the complex and changeable market environment. The problem of financial risk plays a key role in the process of production and operation and the level of profit of every enterprise, so it is very critical for the enterprise to do a good job in advance, during and after the financial risk. In this way, enterprises can make good achievements in the fierce market competition. In theory, it mainly analyzes the characteristics of financial risk and the formation mechanism of pharmaceutical manufacturing enterprises in China. First, in the empirical aspect. This paper analyzes the overall development of Chinese pharmaceutical manufacturing industry from 2006 to 2013. The results show that the profitability of the pharmaceutical manufacturing industry tends to be stable and the solvency of the pharmaceutical manufacturing industry tends to be stable. But operating capacity has improved. Second. Financial risk assessment of 62 pharmaceutical manufacturing companies listed in China from 2009 to 2013 (excluding the impact of the financial crisis on various industries in 2008) is also included in the paper. In the financial risk analysis and assessment of the enterprise. It is very important to select the appropriate model. The multi-variable financial early-warning model proposed by Altman in 1968, the Z-value model, is one of the classical methods to evaluate the financial risk of enterprises. Its main characteristics are objective and accurate, easy to calculate, and the necessary data can be found in the financial statements of the enterprise, has a strong operability. Through the evaluation of the financial data of the study sample. The results show that although the overall financial situation of the four sub-industries is good, there are significant differences among different enterprises. The key of this paper is to point out how to prevent and control the financial risk in the future management process of pharmaceutical manufacturing enterprises through the analysis of the results. The pharmaceutical manufacturing industry should not only draw lessons from the more commonly used financial risk control measures in all industries, but also formulate and implement methods to control financial risks in line with the characteristics of their own industries. For example, we should adopt proper marketing method to increase the main business income, and develop the enterprise's own leading products to improve the competitiveness of the enterprise in this industry, in order to control the financial risk.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F426.72

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