【作者】 张晓艳；

【导师】 陈锦婉；

【作者基本信息】 南京航空航天大学 ， 企业管理， 2007， 硕士

【摘要】 资产结构是指企业各项资产之间的比例关系以及各种资产占总资产的比重。具体来说,就是流动资产与长期资产的比例,流动资产各构成部分之间的比例,长期资产各构成部分之间的比例关系。资产结构理论研究的是企业资源的配置,研究的是企业生产经营过程中如何安排合适的资产结构比例,使资产结构达到最优,从而提高企业的绩效。在现阶段,钢铁行业,特别是钢铁上市公司对我国的经济建设做出了重大的贡献。但由于我国钢铁行业固定资产增长速度越来越快;普通产品的生产能力增长大于市场需求的增长,导致钢铁生产与市场需求的结构性矛盾依然突出。因而在新一轮重组中,我国钢铁上市公司要想取得长足发展,资产结构的研究就具有重大的现实意义。本文从我国钢铁行业上市公司的资产结构与企业绩效的关系入手,研究了我国钢铁行业上市公司资产结构的现状,及其与美国钢铁上市公司的差异,然后分析了影响我国钢铁上市公司资产结构的因素:国家环境、行业、企业规模、资本结构等。之后选取沪深股市的31家钢铁上市公司进行实证分析,进一步研究了我国钢铁上市公司的资产结构与企业绩效的关系,并从总资产收益率和主营业务利润率两个方面具体论述了固定资产、各项流动资产、长期投资以及无形资产占总资产的比例对企业绩效的影响。同时也运用实证分析进一步研究了我国钢铁行业上市公司资产结构的主要影响因素。最后本文从转变管理观念,安排合理资产结构,扩大固定资产规模,提高固定资产质量,进行资产重组等方面提出了优化我国钢铁上市公司资产结构的方法,以期能对我国钢铁上市公司的资产管理产生一定的借鉴意义。更多还原

【Abstract】 Asset structure refers to the ratio of various assets and the proportion of the assets to the total asset. Specifically, it is the ratio of current asset to long-term asset, the ratios of the various components among current asset and the ratios of the various components among long-term asset. Asset structure theory researches the arrangement of enterprise resources and the choice of the suitable asset structure in the production and operation process of enterprises, and the optimization of the asset structure to improve the enterprise performance. At present, the iron and steel industry, especially the listed steel companies, make a significant contribution on China’s economic construction. But the growth rate of fixed assets in China’s steel industry is increasing rapidly; productivity growth of common products is larger than the demand growth of market, which leads that the structural contradiction of steel production and market demand is still prominent. Therefore, in the new round of reorganization, if the listed steel companies want to gain predominance, if China’s listed steel companies want to develop continuously, it has great actual significance to the research of asset structure.The text commences with the relationship of the asset structure and enterprise performance of China’s listed steel companies, and researches the asset structure actuality of the listed steel companies and the differences with the United States. Then the text analyzes the impact factors of asset structure of China’s listed steel companies: country, industry, company’s scale, capital structure etc. In the text, the 31 listed companies in Shanghai and Shenzhen stock markets are selected to do empirical analysis to study further the relationship of the asset structure and enterprises performance of listed companies in China’s iron and steel industry, and concretely discusses that how the proportions of fixed asset, current assets, long-term investment and intangible asset to the total asset affect the enterprise performance from Return On Assets and Profit Margin of Sales Products. At the same time, the text also researches further the main factors affecting the listed steel companies. Finally, the text provides the optimization method of the asset structure of the listed steel companies in China: changing management concept, arranging suitable asset structure, enlarging the scale of fixed asset, improving the quality of fixed asset, carrying through asset reorganization etc. to hope that it has a certain reference to the asset management of China’s listed steel companies.更多还原