基于经济增加值动量的海洋石油工程有限公司价值提升研究

发布时间：2018-03-21 17:39

本文选题：经济增加值　切入点：经济增加值动量　出处：《兰州财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：实现股东价值最大化是上市公司的经营目标。因此,衡量公司经营业绩的评判方法应及时准确的反映公司为其股东创造价值的水平,传统的利润相关指标以及以股东价值为核心的业绩衡量指标如经济增加值,虽可以从一定程度上反映公司的经营状况和价值创造能力,但在对公司价值提升效率上的评价却存在不足。“十三五”以来,面对国内外复杂多变的政治经济环境,上市公司尤其是大型国有企业如何顺应国家政策,转变增长方式,如何在激烈残酷的市场竞争中保证价值提升,是各个公司面临的挑战。这就要求公司不仅要关注股东价值提升的能力,更要注重效率。经济增加值动量作为经济增加值的改进指标,可以评价公司价值提升效率,并通过其趋势变化为公司如何高效提升价值提供决策思路。文章选取了经历2014年国际原油市场巨变的海油工程公司,通过对该公司2011年~2015年经济增加值及经济增加值动量的计算和分解,判断该公司价值提升的能力及效率,权衡公司应对危机的水平,并对其如何更好的提升公司价值给出相关建议。全文共分以下五个部分:第一部分是引言,主要阐述研究背景、研究意义及目的,并提出文章研究的思路框架。第二部分是理论部分,首先对经济增加值和经济增加值动量进行文献综述,然后着重介绍经济增加值动量的影响因素,计算方法和公式分解。第三部分是案例分析,主要介绍公司的基本概况和行业背景,并计算出公司经济增加值及经济增加值动量。第四部分是主要分析部分,首先对海油工程公司经济增加值动量进行分解,并分别从内部营运效率和市场盈利效率两个角度分析其对公司价值提升的影响,再对公司不同成长类型下的价值提升趋势进行分析。第五部分结合上述分析,指明海油工程公司在价值提升方面存在的不足,并对公司如何进行价值提升提出了相应的对策建议。
[Abstract]:To realize the maximization of shareholders' value is the operating goal of listed companies. Therefore, the evaluation methods to measure the company's operating performance should reflect the level of value created by the company for its shareholders in a timely and accurate manner. The traditional profit related index and the performance measure with shareholder value as the core, such as economic added value, can reflect the company's operating condition and value creation ability to a certain extent. Since the 13th Five-Year Plan, in the face of the complex political and economic environment at home and abroad, how do listed companies, especially large state-owned enterprises, adapt to state policies and change their growth patterns? How to guarantee the value enhancement in the fierce and cruel market competition is a challenge for each company, which requires the company not only to pay attention to the ability of shareholder value enhancement, We should pay more attention to efficiency. As an improvement index of economic added value, economic value added momentum can be used to evaluate the efficiency of value enhancement of a company. And through its trend changes for the company how to effectively enhance the value of decision-making thinking. The article selected the international crude oil market after the 2014 tremendous changes in the sea oil engineering company, Through the calculation and decomposition of the company's economic added value and economic added value momentum from 2011 to 2015, the ability and efficiency of the company's value enhancement are judged, and the level of the company's response to the crisis is weighed. The paper is divided into the following five parts: the first part is the introduction, mainly describes the research background, research significance and purpose. The second part is the theoretical part, which firstly reviews the literature of economic added value and economic added value momentum, and then introduces the influencing factors of economic added value momentum. The third part is the case study, which mainly introduces the basic situation of the company and the industry background, and calculates the economic added value and the economic added value momentum of the company. The fourth part is the main analysis part. Firstly, it decomposes the economic value added momentum of sea oil engineering company, and analyzes its influence on the promotion of company value from two angles of internal operation efficiency and market profit efficiency respectively. The fifth part combined with the above analysis, points out the shortage of the value promotion in the sea oil engineering company, and then analyzes the value promotion trend of the company under different growth types. The fifth part, combined with the above analysis, points out the shortcomings of the offshore oil engineering company. And put forward the corresponding countermeasures and suggestions on how to promote the value of the company.
【学位授予单位】：兰州财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.22;F406.7

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