發(fā)布時(shí)間：2018-05-11 01:05

  本文選題：李寧公司 + 盈余質(zhì)量�。� 參考：《蘭州財(cái)經(jīng)大學(xué)》2017年碩士論文

【摘要】：隨著我國(guó)資本市場(chǎng)的發(fā)展,上市公司財(cái)務(wù)數(shù)據(jù)的重要性日益凸顯。雖然國(guó)家相關(guān)部門對(duì)上市公司的財(cái)務(wù)信息披露的要求越來(lái)越嚴(yán)格,但盈余管理在上市公司中仍廣泛存在。盈余管理降低了公司盈余相關(guān)信息的可靠程度。因此,對(duì)盈余質(zhì)量的研究顯得尤為重要。有關(guān)盈余質(zhì)量的研究,國(guó)內(nèi)外學(xué)者多數(shù)是從盈余質(zhì)量的某一方面對(duì)其進(jìn)行研究,全面性和系統(tǒng)性的研究較少,本文在對(duì)國(guó)內(nèi)外學(xué)者有關(guān)盈余質(zhì)量研究文獻(xiàn)梳理的基礎(chǔ)上認(rèn)為盈余質(zhì)量是對(duì)傳統(tǒng)盈利能力評(píng)價(jià)的擴(kuò)展,以收付實(shí)現(xiàn)制為基礎(chǔ),結(jié)合現(xiàn)金流量表對(duì)公司盈利指標(biāo)進(jìn)行進(jìn)一步修正和檢驗(yàn),是企業(yè)在一定時(shí)期內(nèi)獲得利潤(rùn)質(zhì)量好壞的一種評(píng)價(jià)結(jié)果,是對(duì)企業(yè)盈余是否持續(xù)的反映。并在已有研究的基礎(chǔ)上對(duì)盈余質(zhì)量評(píng)價(jià)方法、影響因素開展研究。李寧公司作為我國(guó)優(yōu)秀的民族品牌,曾經(jīng)是我國(guó)體育用品行業(yè)的龍頭企業(yè),卻從2011年起業(yè)績(jī)下滑,并于2012年出現(xiàn)連續(xù)虧損,至2015年再次實(shí)現(xiàn)盈利,其盈余的持續(xù)性和盈余質(zhì)量是否發(fā)生實(shí)質(zhì)性提高受到了社會(huì)的關(guān)注。因此,本文選取李寧公司為研究對(duì)象,對(duì)其2012年12月31日至2016年6月30日期間的盈余質(zhì)量進(jìn)行研究。本文在考慮了盈余質(zhì)量影響因素的基礎(chǔ)上,圍繞盈余的獲利性、持續(xù)性、現(xiàn)金保障性、成長(zhǎng)性和安全性這五大特征,按盈余質(zhì)量財(cái)務(wù)指標(biāo)選取的全面綜合、實(shí)用以及體現(xiàn)盈余特征這三個(gè)原則,結(jié)合李寧公司實(shí)際情況,為其選擇了銷售凈利潤(rùn)率、主營(yíng)業(yè)務(wù)利潤(rùn)占利潤(rùn)總額比重、資產(chǎn)現(xiàn)金回收率等15個(gè)財(cái)務(wù)指標(biāo)對(duì)其盈余質(zhì)量進(jìn)行分析。本文發(fā)現(xiàn)李寧公司盈余質(zhì)量存在現(xiàn)金保障能力不足、成本費(fèi)用管控能力需加強(qiáng)、收益安全性有待提高的問題,這些問題主要是由體育用品行業(yè)競(jìng)爭(zhēng)激烈、公司經(jīng)營(yíng)成本不斷增加所致。為解決這些問題本人提出的建議是注重現(xiàn)金保障性,提高償債能力;拓寬融資渠道,提升融資效率;加強(qiáng)成本費(fèi)用管控力度,提高盈利能力;聚焦主營(yíng)業(yè)務(wù),加強(qiáng)核心競(jìng)爭(zhēng)力;提升產(chǎn)品設(shè)計(jì),進(jìn)一步優(yōu)化用戶體驗(yàn)。通過對(duì)李寧公司盈余質(zhì)量進(jìn)行分析,希望對(duì)其盈余質(zhì)量的提高和未來(lái)發(fā)展有所幫助,同時(shí),也期待對(duì)同行業(yè)和其他處于虧損時(shí)期的公司盈余質(zhì)量的提高有借鑒作用。
[Abstract]:With the development of China's capital market, the importance of financial data of listed companies is becoming increasingly prominent. Although the requirements of financial information disclosure of listed companies are becoming more and more strict, earnings management still exists widely in listed companies. Earnings management reduces the reliability of earnings-related information. Therefore, the study of earnings quality is particularly important. Most scholars at home and abroad study earnings quality from one aspect of earnings quality, but there are few comprehensive and systematic studies on earnings quality. Based on the review of domestic and foreign scholars' researches on earnings quality, this paper holds that earnings quality is an extension of traditional profitability evaluation, and is based on the cash basis. Combining with the cash flow statement to further revise and test the profit index of the company, it is a kind of evaluation result that the enterprise obtains the profit quality in a certain period, and it is a reflection of whether the earnings of the enterprise is sustained or not. And on the basis of the existing research on earnings quality evaluation methods, impact factors to carry out research. As an excellent national brand in our country, Li Ning Company was once the leading enterprise in the sports goods industry of our country, but its performance has been declining since 2011, and it has been losing money continuously in 2012, and has been profitable again in 2015. The persistence of earnings and whether the quality of earnings has been substantially improved has been concerned by the society. Therefore, this paper selects Li Ning Company as the research object, and studies the earnings quality from December 31, 2012 to June 30, 2016. On the basis of considering the influencing factors of earnings quality, this paper focuses on the five characteristics of earnings profitability, persistence, cash security, growth and security, and the comprehensive selection of financial indicators according to earnings quality. According to the actual situation of Li Ning Company, the three principles of practicality and the embodiment of earnings characteristics have chosen the net profit margin of sales, the proportion of main business profit to the total profit, Asset cash recovery and other 15 financial indicators to analyze the quality of its surplus. In this paper, we find that there are some problems in Li Ning's earnings quality, such as insufficient cash support ability, the ability of cost and expense control should be strengthened, and the security of earnings should be improved. These problems are mainly caused by the fierce competition in the sporting goods industry. The company's operating costs are increasing. In order to solve these problems, I put forward suggestions to pay attention to cash security, improve solvency, broaden financing channels, improve financing efficiency, strengthen cost and cost control, improve profitability, focus on main business, strengthen core competitiveness; Improve product design and further optimize user experience. Through the analysis of the earnings quality of Li Ning, the author hopes to be helpful to the improvement of earnings quality and the future development of the earnings quality, and also looks forward to the improvement of earnings quality of the same industry and other companies in the period of loss.
【學(xué)位授予單位】：蘭州財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F406.7;F426.8

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