本文關(guān)鍵詞：基于因子分析法的山西省煤炭上市公司財(cái)務(wù)績(jī)效評(píng)價(jià)研究　出處：《天津商業(yè)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

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【摘要】：在歷史發(fā)展進(jìn)程中,煤炭一直占據(jù)了非常重要的經(jīng)濟(jì)地位。煤炭是賦存于地下的非再生性化石能源,素有“工業(yè)糧食”的美譽(yù)。煤炭是重要的燃料、能源產(chǎn)品、化工原料,極大地推動(dòng)了世界清潔能源、低碳經(jīng)濟(jì)發(fā)展。煤炭公司是國(guó)民經(jīng)濟(jì)的重要支撐,集采礦、能源、基礎(chǔ)原材料業(yè)特征于一身,在我國(guó)公司中占據(jù)著重要的戰(zhàn)略地位。煤炭公司不僅有利于人民取暖、用電,為發(fā)電行業(yè)、運(yùn)輸行業(yè)提供強(qiáng)大的能源保障,還為我國(guó)出口創(chuàng)收創(chuàng)造了有利條件。特別是對(duì)于山西省這樣一個(gè)以煤炭為主要能源的資源大省更是如此�？傊�,煤炭產(chǎn)業(yè)作為山西省經(jīng)濟(jì)發(fā)展的支柱產(chǎn)業(yè),必然深刻地影響著山西省經(jīng)濟(jì)繁榮發(fā)展。通過研讀國(guó)內(nèi)外上司公司財(cái)務(wù)績(jī)效評(píng)價(jià)相關(guān)文獻(xiàn),經(jīng)過總結(jié)與梳理,分析出了公司財(cái)務(wù)績(jī)效評(píng)價(jià)中所需要考慮的相關(guān)因素。本文研究的是山西省上市煤炭公司財(cái)務(wù)績(jī)效對(duì)比情況,經(jīng)過篩選,選擇了11家煤炭上市公司。首先通過查閱2011-2015年新浪財(cái)經(jīng)年度報(bào)表,選取償債能力、運(yùn)營(yíng)能力、增長(zhǎng)能力、盈利能力這四種財(cái)務(wù)指標(biāo),從橫向角度和縱向角度作單指標(biāo)評(píng)價(jià),其次再基于一定原則選取16項(xiàng)指標(biāo)利用spss20中的因子分析法,構(gòu)建模型分別對(duì)2011-2015年11家煤炭上市公司財(cái)務(wù)績(jī)效狀況進(jìn)行排名。最后,對(duì)得分情況進(jìn)行綜合分析并給出建設(shè)性建議。得出結(jié)論:第一,從2011-2015年,這11家山西省上市煤炭公司中大部分在盈利能力、償債能力、運(yùn)營(yíng)能力、發(fā)展能力方面有所下降,整體財(cái)務(wù)績(jī)效呈現(xiàn)下滑趨勢(shì);第二,盈利能力、償債能力、運(yùn)營(yíng)能力、發(fā)展能力這四方面共同影響公司的整體財(cái)務(wù)績(jī)效,不能單從一方面來考慮;第三,陽泉煤業(yè)、大同煤業(yè)、潞安環(huán)能、蘭花科創(chuàng)整體來講在11家上市公司處于領(lǐng)先地位,并且常常在某一方面的能力優(yōu)勢(shì)突出。例如:在2015年蘭花科創(chuàng)總體財(cái)務(wù)績(jī)效排名排在第一位,其營(yíng)運(yùn)能力得分也排在第一位,即營(yíng)運(yùn)能力較強(qiáng);安泰集團(tuán)、煤氣化排名情況則常常處于末位并且常常在某一方面的能力略勢(shì)明顯。例如:在2014年煤氣化總體財(cái)務(wù)績(jī)效排名排在末位,其償債能力得分也排在末位,即償債能力弱。最后,結(jié)合單指標(biāo)評(píng)價(jià)和因子分析法對(duì)得分情況進(jìn)行分析,提出改善山西省煤炭上市公司財(cái)務(wù)績(jī)效的對(duì)策建議:改進(jìn)生產(chǎn)工藝,提高煤產(chǎn)品品質(zhì),實(shí)現(xiàn)降本增效,提高公司盈利能力;提高資產(chǎn)利用效率,改善公司營(yíng)運(yùn)能力;面臨循環(huán)經(jīng)濟(jì)契機(jī),要優(yōu)化產(chǎn)業(yè)結(jié)構(gòu),從而提高公司發(fā)展能力;優(yōu)化自身負(fù)債結(jié)構(gòu),發(fā)揮財(cái)務(wù)杠桿作用。
[Abstract]:In the process of historical development, coal has always occupied a very important economic position. Coal is a non-renewable fossil energy that exists underground, and it is known as "industrial grain". Coal is an important fuel and energy product. Chemical raw materials, greatly promote the world clean energy, low-carbon economic development. Coal company is an important support of the national economy, mining, energy, basic raw materials industry characteristics in one. Coal companies are not only conducive to heating and electricity consumption, but also provide strong energy security for the power generation industry and transportation industry. It has also created favorable conditions for China's export income generation, especially for Shanxi Province, a large resource province with coal as the main energy. In short, the coal industry is the pillar industry of Shanxi's economic development. It has a profound impact on the economic prosperity of Shanxi Province. Through the study of domestic and foreign supervisor company financial performance evaluation literature, through summary and combing. Analysis of the company financial performance evaluation needs to consider the relevant factors. This paper is listed coal companies in Shanxi Province financial performance comparison after screening. Selected 11 coal listed companies. First, through the 2011-2015 Sina financial statements, select solvency, operational capacity, growth capacity, profitability of these four financial indicators. The single index is evaluated from the horizontal angle and the longitudinal angle, and then 16 indexes are selected based on certain principles to use the factor analysis method in spss20. Build the model of 11 coal listed companies from 2011 to 2015 to rank the financial performance. Finally, the score of the comprehensive analysis and give constructive suggestions. Conclusion: first. From 2011-2015, most of the 11 listed coal companies in Shanxi Province have declined in the aspects of profitability, solvency, operation ability and development ability, and the overall financial performance has shown a downward trend. Second, profitability, solvency, operational capacity, development capacity together affect the overall financial performance of the company, can not only be considered from one side; Third, Yangquan coal industry, Datong coal industry, Lu'an ring energy, orchid branch overall speaking in 11 listed companies in the leading position. For example, in 2015, Orchidaceae ranked first in overall financial performance, and its operating ability also ranked first, that is, strong operational capability; Aetai Group, coal gasification ranking is often at the bottom and often in one aspect of the capacity slightly more obvious. For example: in 2014, coal gasification overall financial performance ranking at the bottom. Its solvency score is also in the last place, that is, weak solvency. Finally, combined with single index evaluation and factor analysis to analyze the score. The countermeasures to improve the financial performance of listed coal companies in Shanxi Province are put forward: improving the production process, improving the quality of coal products, reducing the cost and increasing efficiency, and improving the profitability of the companies; Improve the efficiency of asset utilization, improve the company's operational capacity; Facing the opportunity of circular economy, we should optimize the industrial structure and improve the development ability of the company. Optimize its own debt structure, play a financial leverage role.
【學(xué)位授予單位】：天津商業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F426.21;F406.72

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