基于價值鏈的財務分析研究
發(fā)布時間：2018-10-31 15:52
【摘要】：隨著當前經濟全球化趨勢的加劇,市場環(huán)境變得越發(fā)多變而復雜,企業(yè)如何保持和增強自身的競爭優(yōu)勢也變得尤為重要。在市場經濟環(huán)境中,財務管理是企業(yè)管理的中心工作,而財務分析也是財務管理的核心工作�，F(xiàn)行的財務分析一般只局限于財務報表分析,通過對一些財務指標的計算分析來對企業(yè)的盈利能力、營運能力、償債能力和發(fā)展能力等狀況進行評價。不過這樣的財務分析方法通常只能幫助外部的利益相關者了解企業(yè)的經營狀況,但難以為內部經營者做出有利于保持和提高企業(yè)競爭優(yōu)勢的決策提供幫助,也難以通過現(xiàn)行的財務分析針對暴露出的問題找到解決方法。因此,現(xiàn)行的財務分析的弊端顯而易見,迫切需要引入新的分析工具來改善現(xiàn)行的財務分析。價值鏈管理作為一種全新的管理理念,以其廣泛適應性和先進性被引入企業(yè)管理的各個方面。財務分析與價值鏈管理的結合也成為了必然的趨勢。 本文的研究思路是在闡釋價值鏈和財務分析兩者的理論基礎上,討論將價值鏈分析的思想引入財務分析的必要性和可行性。全文主要分為五個部分： 第一部分：緒論。這是本文的第一章,主要包括選題背景與意義、關于價值鏈和財務分析的國內外研究綜述以及本文的研究內容和研究方法。 第二部分：財務分析和價值鏈的理論基礎。這是本文的第二章,主要是對財務分析和價值鏈這兩大理論的概述。對于財務分析理論,本文概述了財務分析的內涵與外延、以及財務分析理論的演變過程；對于價值鏈理論,本文概述了基本的價值鏈理論以及價值鏈分析的過程,為下文構建價值鏈導向下的財務分析打下了基礎。 第三部分：基于價值鏈的財務分析的必要性。這是本文第三章,該部分一方面揭示了現(xiàn)行財務分析的弊端和局限,另一方面展示了基于價值鏈的財務分析所具有的優(yōu)勢,通過這樣的比對來說明基于價值鏈的財務分析在克服現(xiàn)行財務分析固有的缺陷方面的重要意義,從而揭示了采用這種財務分析的必要性。 第四部分：基于價值鏈的財務分析的可行性。這部分包括本文的第四、五、六三章。本文第四章通過對杜邦分析法、EVA以及平衡計分卡的整合,試圖構建一個基于內部價值鏈的財務分析綜合指標體系。這一體系的構建一方面借助平衡計分卡量化了非財務指標,拓寬了財務分析的范圍；另一方面借助價值鏈把財務分析深入到具體業(yè)務活動中,便于找出關鍵驅動因素即戰(zhàn)略執(zhí)行的重點,從而彌補了現(xiàn)行財務分析缺乏反映非財務信息和就財務論財務而忽視業(yè)務、忽視戰(zhàn)略的不足。 本文第五章根據(jù)價值鏈分析的過程,從企業(yè)內部價值鏈、產業(yè)縱向價值鏈和競爭者橫向價值鏈三個層面入手,探索構建基于價值鏈的財務分析模式的具體步驟以及將其與戰(zhàn)略成本管理進行有機結合的具體方法,從而找到一條將價值鏈分析引入財務分析的可行路徑。 本文第六章是案例分析。針對順鑫農業(yè)這個樣本,將上文所述的財務分析模式的構建和分析過程進行具體的展現(xiàn),以案例實踐的方式證明將價值鏈分析引入財務分析的可行性。 第五部分：研究局限和未來研究方向。這是本文第七章,主要指出了這種研究的局限和不足以及未來繼續(xù)研究的方向。 總體來說,把價值鏈引入企業(yè)的財務分析中,能使企業(yè)的財務分析與企業(yè)的經營戰(zhàn)略目標密切聯(lián)系,也能幫助企業(yè)經營者找出解決問題、改善現(xiàn)狀的方法,從而很大程度上克服了現(xiàn)行財務分析的局限,對于提升企業(yè)決策的有效性有重要意義。 把價值鏈引入財務分析本身是一個較新的選題。縱觀全文,理論基礎部分主要是對前人研究的歸納總結。本文的主體部分也是主要貢獻在于揭示基于價值鏈進行財務分析必要性和可行性。這種財務分析模式拓寬了現(xiàn)行財務分析的外延,把會計管理的范疇從企業(yè)內部延伸到企業(yè)外部,使會計管理脫離了會計主體的限制,具有創(chuàng)新意義。同時本文從企業(yè)內部價值鏈、產業(yè)縱向價值鏈和競爭者橫向價值鏈三個層面構建這種財務分析模式,并把它與戰(zhàn)略成本管理結合起來,也具有一定的創(chuàng)新性。 當然,財務分析是一個在理論和實務中都非常復雜的問題。隨著經濟社會的不斷發(fā)展,新思想、新方法的層數(shù)不窮,財務分析也面臨巨大挑戰(zhàn)。本人研究能力的不足和實踐經驗的匱乏導致本文在研究深度、廣度以及實踐應用方面還有很多局限和不足,需要未來進一步拓展、深入。
[Abstract]:With the aggravation of the current trend of economic globalization, the market environment becomes more changeable and complicated, and how to maintain and enhance its competitive advantage becomes more important. In the market economy environment, financial management is the center of enterprise management, and financial analysis is also the core of financial management. The current financial analysis is generally limited to the financial statement analysis, and evaluates the profitability, operation ability, debt service ability and development ability of the enterprise through the calculation and analysis of some financial indexes. However, such financial analysis methods usually only help the external stakeholders understand the business situation of the enterprise, but it is difficult to assist the internal operators in making decisions that are conducive to maintaining and improving the competitive edge of the enterprise, It is also difficult to find a solution to the problems exposed through the current financial analysis. Therefore, the drawbacks of current financial analysis are obvious, and new analytical tools are urgently needed to improve the current financial analysis. As a brand-new management idea, value chain management is introduced into all aspects of enterprise management with its wide adaptability and advanced nature. The combination of financial analysis and value chain management has also become an inevitable trend. This paper discusses the necessity and feasibility of introducing value chain analysis into financial analysis on the basis of explaining both value chain and financial analysis. Line. The full text is divided into five chapters. Part: First Part: Introduction. This is the first chapter of this paper, which mainly includes the background and significance of the subject selection, the research on value chain and financial analysis both at home and abroad, and the research contents in this paper. and research methods. Part II: Financial Analysis and The theoretical basis of the value chain. This is the second chapter of this paper, mainly for financial analysis and value chain. This paper summarizes the connotation and extension of financial analysis as well as the evolution of financial analysis theory. The Process of Value Chain Analysis to Build the Future of Value Chain under the Guidance of Value Chain Traffic analysis laid the foundation. Part 3: Price based The necessity of the financial analysis of the value chain is the third chapter of this paper, which reveals the drawbacks and limitations of the current financial analysis, and on the other hand shows the value chain. The advantage of the financial analysis of the value chain is explained by the comparison of the importance of the financial analysis based on the value chain in overcoming the inherent defect of the current financial analysis. The need for such financial analysis. Part IV: The feasibility of financial analysis based on value chain. The fourth, fifth and sixth chapters of this paper are divided into three chapters. In chapter 4, we try to build an internal system based on the integration of DuPont analysis method, EVA and balanced scorecard. The construction of this system, on the one hand, quantifies the non-financial indexes by means of the balanced scorecard, widens the scope of financial analysis, and, on the other hand, takes the financial analysis into specific business activities with the help of the value chain, which is convenient to find out. The key driver factor is the focus of strategy execution, which makes up for the lack of financial analysis in current financial analysis and the finance theory. The fifth chapter is based on the process of value chain analysis, from the inner value chain of the enterprise, the industry's longitudinal price, Starting with the three aspects of the value chain and the horizontal value chain of competitors, this paper explores the concrete steps of constructing the financial analysis model based on the value chain and the concrete method combining it with the strategic cost management. Introducing value chain analysis into financial points The sixth chapter of this paper is the case analysis. According to the sample of Shunxin agriculture, the construction and analysis process of the financial analysis model described above will be displayed in detail. Way to prove that value chain analysis is introduced into financial analysis Feasibility. Part five: Study limitations and future research directions. This is Chapter VII of this article, which mainly refers to By introducing the value chain into the financial analysis of the enterprise, the financial analysis of the enterprise can be closely related to the strategic target of the enterprise, and it can also help the enterprise operator to find the problem and change the problem. The current method of good condition has overcome the present situation to a great extent. The limitation of bank financial analysis is to improve the effectiveness of decision-making in enterprises. It is important to introduce the value chain into the financial analysis itself. The main part of this paper is the summary of the previous studies. The main contribution is to reveal the necessity and feasibility of financial analysis based on the value chain. This kind of financial analysis model has broadened the extension of the current financial analysis, and extended the scope of accounting management from the enterprise. At the same time, this paper builds up this kind of finance from three aspects: internal value chain, industry vertical value chain and competitor lateral value chain. Analysis mode, combining it with strategic cost management, also has certain Innovation. Of course, financial analysis is a very complex issue in theory and practice. With the economy The development of society, the new thought, the number of new methods are not poor, the financial analysis also faces great challenge. The lack of my research ability and the lack of practical experience have led to this paper in the depth of research,
【學位授予單位】：財政部財政科學研究所
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F275
本文編號：2302759
[Abstract]:With the aggravation of the current trend of economic globalization, the market environment becomes more changeable and complicated, and how to maintain and enhance its competitive advantage becomes more important. In the market economy environment, financial management is the center of enterprise management, and financial analysis is also the core of financial management. The current financial analysis is generally limited to the financial statement analysis, and evaluates the profitability, operation ability, debt service ability and development ability of the enterprise through the calculation and analysis of some financial indexes. However, such financial analysis methods usually only help the external stakeholders understand the business situation of the enterprise, but it is difficult to assist the internal operators in making decisions that are conducive to maintaining and improving the competitive edge of the enterprise, It is also difficult to find a solution to the problems exposed through the current financial analysis. Therefore, the drawbacks of current financial analysis are obvious, and new analytical tools are urgently needed to improve the current financial analysis. As a brand-new management idea, value chain management is introduced into all aspects of enterprise management with its wide adaptability and advanced nature. The combination of financial analysis and value chain management has also become an inevitable trend. This paper discusses the necessity and feasibility of introducing value chain analysis into financial analysis on the basis of explaining both value chain and financial analysis. Line. The full text is divided into five chapters. Part: First Part: Introduction. This is the first chapter of this paper, which mainly includes the background and significance of the subject selection, the research on value chain and financial analysis both at home and abroad, and the research contents in this paper. and research methods. Part II: Financial Analysis and The theoretical basis of the value chain. This is the second chapter of this paper, mainly for financial analysis and value chain. This paper summarizes the connotation and extension of financial analysis as well as the evolution of financial analysis theory. The Process of Value Chain Analysis to Build the Future of Value Chain under the Guidance of Value Chain Traffic analysis laid the foundation. Part 3: Price based The necessity of the financial analysis of the value chain is the third chapter of this paper, which reveals the drawbacks and limitations of the current financial analysis, and on the other hand shows the value chain. The advantage of the financial analysis of the value chain is explained by the comparison of the importance of the financial analysis based on the value chain in overcoming the inherent defect of the current financial analysis. The need for such financial analysis. Part IV: The feasibility of financial analysis based on value chain. The fourth, fifth and sixth chapters of this paper are divided into three chapters. In chapter 4, we try to build an internal system based on the integration of DuPont analysis method, EVA and balanced scorecard. The construction of this system, on the one hand, quantifies the non-financial indexes by means of the balanced scorecard, widens the scope of financial analysis, and, on the other hand, takes the financial analysis into specific business activities with the help of the value chain, which is convenient to find out. The key driver factor is the focus of strategy execution, which makes up for the lack of financial analysis in current financial analysis and the finance theory. The fifth chapter is based on the process of value chain analysis, from the inner value chain of the enterprise, the industry's longitudinal price, Starting with the three aspects of the value chain and the horizontal value chain of competitors, this paper explores the concrete steps of constructing the financial analysis model based on the value chain and the concrete method combining it with the strategic cost management. Introducing value chain analysis into financial points The sixth chapter of this paper is the case analysis. According to the sample of Shunxin agriculture, the construction and analysis process of the financial analysis model described above will be displayed in detail. Way to prove that value chain analysis is introduced into financial analysis Feasibility. Part five: Study limitations and future research directions. This is Chapter VII of this article, which mainly refers to By introducing the value chain into the financial analysis of the enterprise, the financial analysis of the enterprise can be closely related to the strategic target of the enterprise, and it can also help the enterprise operator to find the problem and change the problem. The current method of good condition has overcome the present situation to a great extent. The limitation of bank financial analysis is to improve the effectiveness of decision-making in enterprises. It is important to introduce the value chain into the financial analysis itself. The main part of this paper is the summary of the previous studies. The main contribution is to reveal the necessity and feasibility of financial analysis based on the value chain. This kind of financial analysis model has broadened the extension of the current financial analysis, and extended the scope of accounting management from the enterprise. At the same time, this paper builds up this kind of finance from three aspects: internal value chain, industry vertical value chain and competitor lateral value chain. Analysis mode, combining it with strategic cost management, also has certain Innovation. Of course, financial analysis is a very complex issue in theory and practice. With the economy The development of society, the new thought, the number of new methods are not poor, the financial analysis also faces great challenge. The lack of my research ability and the lack of practical experience have led to this paper in the depth of research,
【學位授予單位】：財政部財政科學研究所
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F275
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