铝工业上市公司财务竞争力的实证研究

发布时间：2018-03-26 08:00

本文选题：铝工业　切入点：上市公司　出处：《河南大学》2015年硕士论文

【摘要】：自改革开放以来,我国确立了在有色金属工业中优先发展铝的战略方针,铝工业得到迅速发展,我国现已成为世界铝生产和消费第一大国,形成了布局全面、产业链完整的工业体系。然而目前,受宏观经济环境的影响,产能过剩、价格低迷等问题困扰着整个铝工业的健康发展;国家在产业政策、规划中,将节能减排、扶优汰劣、加快转型作为铝工业发展的主要任务。多方面的原因导致产业内部竞争加剧,许多铝工业企业财务状况不佳,甚至陷入财务困境。因此,如何提高企业财务管理水平和财务竞争力,成为铝工业企业关注的重要问题,此问题的探究对我国铝工业的健康发展和竞争力的提高具有一定的现实意义。本文以财务竞争力作为分析问题的视角,选取20家国内铝工业上市公司为考察对象进行实证研究。首先,梳理了国内外关于企业竞争力、财务竞争力的研究成果,对铝工业上市公司财务竞争力的概念和内涵进行了界定;进一步研究了财务竞争力的形成机理与评价方法;然后以我国铝工业发展概况和产业竞争环境为基础,建立较为合适的铝工业上市公司财务竞争力评价体系,并选择因子分析法作为评价方法;最后对铝工业上市公司财务竞争力进行实证研究。分析结果表明:产业链一体化企业的资产结构不合理、财务风险较大;资金保障力不足是财务竞争力下降的重要原因;营运能力对上市公司财务竞争力的提升起到关键作用。本文的最后,为铝工业上市公司财务竞争力的提升提出对策建议,包括增强资金保障力、提高财务风险管理能力、强化主营业务管理、合理制定财务战略等。
[Abstract]:Since the reform and opening up, China has established the strategic policy of giving priority to the development of aluminum in the nonferrous metal industry, and the aluminum industry has developed rapidly. China has now become the largest country in aluminum production and consumption in the world, forming a comprehensive layout. However, under the influence of the macroeconomic environment, problems such as overcapacity and low prices are hampering the healthy development of the aluminum industry as a whole. In industrial policies and planning, the state has eliminated the poor and the best in energy conservation and emission reduction. Speeding up the transformation is the main task of the development of aluminum industry. Various reasons lead to intensified competition within the industry, and many aluminum industry enterprises are in poor financial situation or even in financial distress. How to improve the level of financial management and financial competitiveness of enterprises has become an important concern of aluminum industry enterprises. The exploration of this problem has certain practical significance for the healthy development and the improvement of the competitiveness of the aluminum industry in China. This paper takes the financial competitiveness as the angle of view to analyze the problems. Select 20 domestic aluminum industry listed companies as the object of empirical research. First, combing the domestic and foreign research results on the competitiveness of enterprises, financial competitiveness, This paper defines the concept and connotation of the financial competitiveness of the listed companies of aluminum industry, further studies the forming mechanism and evaluation methods of the financial competitiveness, and then based on the general situation of the development of the aluminum industry in China and the industrial competitive environment, To establish a more suitable evaluation system of financial competitiveness of listed companies in aluminum industry, and choose factor analysis as the evaluation method; Finally, the empirical study on the financial competitiveness of listed companies in aluminum industry is carried out. The results show that the assets structure of the integrated enterprises of industrial chain is unreasonable, the financial risk is large, and the lack of financial support is the important reason for the decline of financial competitiveness. The operation ability plays a key role in improving the financial competitiveness of listed companies. Finally, the paper puts forward some suggestions for improving the financial competitiveness of listed companies in aluminum industry, including strengthening the financial security and improving the ability of financial risk management. Strengthen the main business management, reasonable formulation of financial strategies.
【学位授予单位】：河南大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F406.7;F426.32

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