基于上市公司业绩增长能力的财务评价研究

【作者】 周勋；

【导师】 韩庆兰；

【作者基本信息】 中南大学 ， 会计学， 2003， 硕士

【摘要】 上市公司是促进我国经济发展的优秀企业代表，上市公司的成长是经济整体成长的前提。因此，如何正确评价上市公司经营业绩，促进上市公司自身的业绩增长能力，是一个值得研究的问题。 本文从我国上市公司业绩评价方法上存在的不足着手分析，并结合业绩增长能力的影响因素，把握新经济环境下业绩评价方法改善的‘关键，拓展对业绩评价方法的范围，指出在新经济环境下对上市公司业绩增长能力评价应关注高层主管的薪酬与业绩激励相结合、风险因素、筹资决策中资本结构筹资效益、现金流与业绩“持久性”的创利质量能力等问题，立足于现金流对营运能力评价等方面作出相应的改善。并在上述基础上引入因子分析方法进行综合评价模型的构建。结合1999年沪市机械、设备及仪表行业78家上市公司进行实证研究，研究结果表明，通过此方法对上市公司业绩增长能力评价时，评价结果为强业绩增长能力的上市公司，中段期内的业绩增长保持良好趋势。从而验证了本评价方法的科学性与可行性。更多还原

【Abstract】 The listed company is the represent of outstanding enterprise that brings about an advance in the economy of our country, the growth of listed company is the prerequisite that economy grow up wholly. So how to appraise the achievement of the listed company correctly and boost its own ability of increasing achievement is worth research.It starts with analyzing from the shortage of appraising the listed company achievement’s method, combines the influence factor of increasing achievement ability, Holds the key of improving the method under new economic environment, Expands the range of the method. Points out the key of appraising the listed company achievement ability under new economic environment: inspire the executive with achievements; analyze the risk factor, while appraising profit ability, consider the benefit of capital structure, from cash flow and the angle of the achievement" persistence" to appraise profits quality. Bases on cash flow to appraise operation ability. Leads into factor analytical method carrying on comprehensive appraisal construction of model on the basis of the aforesaid. Combines 78 machinery equipment instrument industry of listed companies in stock markets of Shanghai to carry on the positive research ,which come into the market in 1999.Result of the study indicates it keeps the good increasing trend with the result showing strong achievement ability. Thus verify the scientific and feasibility of this method.更多还原