港口上市公司盈利能力研究
发布时间：2018-08-11 17:42
【摘要】：港口作为国民经济和社会发展的重要基础设施,有力地支撑了整个国家社会、经济、贸易的发展。2009年,欧洲债务危机爆发,新兴市场贸易增长趋缓,发达国家经济反复震荡,对港口行业的发展难以形成有力的拉动,意味着港口行业高盈利增长时代基本结束,未来相当长时间将维持低增长。如何提升港口的盈利能力已经成为经营者乃至国家关注的焦点。因此,研究港口行业的盈利能力,不仅具有广泛的理论价值,而且对整个行业也有显著的实践价值。 首先,本文研究了国内外有关盈利能力的成果,基于此从理论上分析了,影响生产经营活动的盈利能力因素、影响资产盈利能力因素、影响所有者盈利能力因素3个模块。然后,结合营业利润、利润总额、净利润、吞吐量的数据,使用对比分析、图表分析等方法研究了港口上市公司盈利能力的现状。根据研究目标和港口上市公司的实际情况,选取了8个财务指标,构建起适合港口上市公司盈利能力的评价体系。在评价体系的基础上,本文以国内17家港口上市公司为样本,采用其2010-2012年连续3年的年报数据,运用因子分析法,分别对样本公司8个评价公司盈利能力的财务指标进行了分析。 研究发现：1、港口行业内的上市公司盈利能力强弱差距较大。2、每个公司在,资产运营盈利能力、所有者投资盈利能力、生产经营盈利能力、现金流量盈利能力这四个方面都各有高低,没有一家公司在这四个方面都特别强。4、资产运营盈利能力、所有者投资盈利能力对评价港口上市公司的盈利能力影响较大3、一半的港口上市公司盈利能力低于整体平均水平。4、盈利能力强的港口上市公司,现金流量压力比其它上市公司压力大。最后根据以上的研究结果再结合市场的情况,本文给出了提高港口上市公司盈利能力的对策建议。
[Abstract]:As an important infrastructure for national economic and social development, ports have strongly supported the development of society, economy and trade of the whole country. In 2009, the European debt crisis broke out, the growth of trade in emerging markets slowed down, and the economy of developed countries oscillated repeatedly. How to improve the profitability of the port has become the focus of attention of the operators and even the state. Therefore, the study of the profitability of the port industry has not only broad theoretical value, but also significant practical value for the entire industry.
Firstly, this paper studies the results of profitability at home and abroad. Based on this theory, it analyzes the profitability factors of production and operation activities, the profitability factors of assets, and the profitability factors of owners. Based on the research objectives and the actual situation of port listed companies, eight financial indicators are selected to construct an evaluation system for the profitability of port listed companies. On the basis of the evaluation system, this paper takes 17 domestic port listed companies as samples and adopts 20 of them. Based on the data of the annual reports for three consecutive years from October to 2012, this paper analyzes the financial indicators of 8 sample companies to evaluate their profitability.
The results show that: 1. There is a big gap between the profitability of Listed Companies in the port industry. 2. Each company has its own level in four aspects: the profitability of asset operation, the profitability of owner's investment, the profitability of production and operation, and the profitability of cash flow. Capacity, owner's investment profitability has a greater impact on the evaluation of the profitability of port listed companies. Half of the port listed companies'profitability is lower than the overall average level. 4. The profitability of port listed companies, cash flow pressure is greater than that of other listed companies. Finally, according to the above research results and combined with the market situation. This paper gives some suggestions on how to improve the profitability of Listed Companies in the port.
【学位授予单位】：广东工业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F552.6;F275
本文编号：2177746
[Abstract]:As an important infrastructure for national economic and social development, ports have strongly supported the development of society, economy and trade of the whole country. In 2009, the European debt crisis broke out, the growth of trade in emerging markets slowed down, and the economy of developed countries oscillated repeatedly. How to improve the profitability of the port has become the focus of attention of the operators and even the state. Therefore, the study of the profitability of the port industry has not only broad theoretical value, but also significant practical value for the entire industry.
Firstly, this paper studies the results of profitability at home and abroad. Based on this theory, it analyzes the profitability factors of production and operation activities, the profitability factors of assets, and the profitability factors of owners. Based on the research objectives and the actual situation of port listed companies, eight financial indicators are selected to construct an evaluation system for the profitability of port listed companies. On the basis of the evaluation system, this paper takes 17 domestic port listed companies as samples and adopts 20 of them. Based on the data of the annual reports for three consecutive years from October to 2012, this paper analyzes the financial indicators of 8 sample companies to evaluate their profitability.
The results show that: 1. There is a big gap between the profitability of Listed Companies in the port industry. 2. Each company has its own level in four aspects: the profitability of asset operation, the profitability of owner's investment, the profitability of production and operation, and the profitability of cash flow. Capacity, owner's investment profitability has a greater impact on the evaluation of the profitability of port listed companies. Half of the port listed companies'profitability is lower than the overall average level. 4. The profitability of port listed companies, cash flow pressure is greater than that of other listed companies. Finally, according to the above research results and combined with the market situation. This paper gives some suggestions on how to improve the profitability of Listed Companies in the port.
【学位授予单位】：广东工业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F552.6;F275
【引证文献】
相关硕士学位论文 前1条
1 徐海航;淡水河谷财务报表分析[D];大连海事大学;2015年
，本文编号：2177746
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