我国有色金属行业上市公司财务绩效评价研究

发布时间：2018-03-16 01:29

本文选题：有色金属行业　切入点：绩效评价　出处：《电子科技大学》2014年硕士论文　论文类型：学位论文

【摘要】：有色金属行业是我国重要的基础性能源行业,为民生领域和军工领域提供材料支撑,其上市公司经营水平的高低决定着整个行业。目前,针对有色金属行业的财务绩效分析都停留在期货投资报告的层面,都是以投资何种有色金属为主,没有对整个行业财务绩效的系统评价,因此有必要深入、客观地评价有色金属行业上市公司的财务绩效。以我国有色金属行业上市公司2012年度年报数据为样本,以SPSS20.0、Excel2010和MATLAB7.1为数据分析工具。首先,利用模糊聚分析法和主成分分析法(FCA-PCA)筛选指标;然后,结合熵值法得到的权重和沃尔评分法,得到行业绩效得分并排名;其次,运用AHP验证了绩效排名结果的科学性;最后,在此基础上深入地对有色金属行业进行横向分析评价,也对“中国铝业”2007-2013年的年报数据进行纵向评价,横向和纵向相结合并提出了相关建议。上述方法的创新点在于:第一,FCA-PCA克服了单纯由客观筛选法得到指标评价体系的一次性;第二,弥补了前人研究缺少检验步骤的不足。研究发现:第一,目前我国有色金属行业上市公司各方面财务绩效堪忧,整体行业仍处于微利边缘,矿采选业绩效略好于冶炼及压延加工业;第二,垄断类有色金属上市公司收益远好于常用类有色金属上市公司,二者收益差异巨大;第三,老牌有色金属国有企业亏损的根源在于自身机构不适应完全竞争的市场环境。“中国铝业”代表了摊子大、产能大、市场竞争力弱的老牌国企,决策机制和管理机制上均没有同类民营企业灵活。
[Abstract]:Non-ferrous metal industry is an important basic energy industry in China. It provides material support for people's livelihood and military industry. The level of management of listed companies determines the whole industry. At present, The financial performance analysis of non-ferrous metal industry stays at the level of futures investment report. It is mainly about what kind of non-ferrous metals is invested, and there is no systematic evaluation of the financial performance of the whole industry, so it is necessary to go deep. To objectively evaluate the financial performance of listed companies in nonferrous metal industry. Taking the annual report data of China's listed companies in nonferrous metals industry as a sample, SPSS 20.0 / Excel 2010 and MATLAB7.1 are taken as data analysis tools. The index is screened by fuzzy clustering analysis and principal component analysis. Then, the industry performance score and ranking are obtained by combining the weight obtained by entropy method and the Wale score method. Secondly, the scientific results of performance ranking are verified by using AHP. On this basis, the horizontal analysis and evaluation of the non-ferrous metal industry and the longitudinal evaluation of the annual report data of "Chinalco" from 2007 to 2013 are carried out. The innovation of the above methods lies in: first, FCA-PCA overcomes the one-time objective screening method to obtain the index evaluation system; second, The research found that: first, the financial performance of listed companies in China's non-ferrous metal industry is poor, the whole industry is still on the edge of marginal profit. Mining and separation industry performance slightly better than smelting and calender processing industry; second, monopoly non-ferrous metals listed companies far better than the common non-ferrous metals listed companies, the difference between the two earnings is huge; third, The root of the losses of the old state-owned nonferrous metal enterprises lies in the fact that their own institutions do not adapt to the completely competitive market environment. "Chinalco" represents the old state-owned enterprises with a large scale, large production capacity and weak market competitiveness. Decision-making mechanism and management mechanism are not the same kind of private enterprises flexible.
【学位授予单位】：电子科技大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F426.32

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