本文關(guān)鍵詞：基于財(cái)務(wù)報(bào)告的東方園林投資價(jià)值分析　出處：《哈爾濱工業(yè)大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 財(cái)務(wù)報(bào)告分析 財(cái)務(wù)比率分析 經(jīng)濟(jì)增加值 企業(yè)價(jià)值

【摘要】：在市場(chǎng)經(jīng)濟(jì)條件下，企業(yè)本身作為一種商品，是可以在市場(chǎng)上進(jìn)行交易的，企業(yè)管理的目標(biāo)是企業(yè)價(jià)值最大化。因此，企業(yè)價(jià)值對(duì)投資者和經(jīng)營(yíng)者來(lái)說(shuō)是至關(guān)重要的。財(cái)務(wù)報(bào)告作為企業(yè)財(cái)務(wù)狀況的載體，是定期對(duì)外公布的對(duì)上市公司的財(cái)務(wù)狀況進(jìn)行綜述的文件，它詳細(xì)反映了企業(yè)的財(cái)務(wù)狀況和經(jīng)營(yíng)成果。 在中國(guó)證券市場(chǎng)上,一直都以市盈率、市凈率、每股收益等指標(biāo)作為上市公司經(jīng)營(yíng)成果的衡量指標(biāo),并成為絕大多數(shù)上市公司經(jīng)理的業(yè)務(wù)目標(biāo)和激勵(lì)標(biāo)準(zhǔn)。然而,隨著社會(huì)經(jīng)濟(jì)條件的日益增長(zhǎng),逐漸發(fā)現(xiàn)這些傳統(tǒng)指標(biāo)不能反映企業(yè)的真實(shí)價(jià)值。因此,公司必須不斷地尋求新的性能指標(biāo)和金融方法。 本文通過(guò)理論分析和實(shí)證研究，并與財(cái)務(wù)報(bào)告相結(jié)合的研究方法，基于財(cái)務(wù)比率分析和經(jīng)濟(jì)增加值（EVA）模型來(lái)評(píng)估上市公司的價(jià)值。本文首先闡述選題的目的和意義，國(guó)內(nèi)外研究現(xiàn)狀及研究?jī)?nèi)容和研究方法；其次，對(duì)現(xiàn)存的幾種企業(yè)估值模型進(jìn)行介紹，將EVA模型與其它主要企業(yè)估值模型進(jìn)行對(duì)比，得出EVA估值模型能夠真實(shí)地反映企業(yè)價(jià)值，在企業(yè)估值方面存在獨(dú)特的優(yōu)勢(shì)；再次，介紹我國(guó)園林行業(yè)的發(fā)展?fàn)顩r，，重點(diǎn)介紹了東方園林的發(fā)展沿革和發(fā)展環(huán)境及核型競(jìng)爭(zhēng)力；最后，基于財(cái)務(wù)報(bào)告，對(duì)東方園林進(jìn)行財(cái)務(wù)比率分析，并應(yīng)用經(jīng)濟(jì)增加值模型對(duì)東方園林股份有限公司進(jìn)行了價(jià)值評(píng)估，得出東方園林的企業(yè)價(jià)值。 本文的創(chuàng)新點(diǎn)是運(yùn)用財(cái)務(wù)比率分析和經(jīng)濟(jì)增加值模型來(lái)評(píng)估東方園林的所有過(guò)程，這是在國(guó)內(nèi)相對(duì)較少的。本文希望東方園林價(jià)值的探討，可為廣大投資者提供有益的參考，同時(shí)可將這個(gè)方法應(yīng)用于用于其他上市公司。
[Abstract]:Under the condition of market economy, the enterprise itself, as a commodity, can be traded in the market. The goal of enterprise management is to maximize the value of the enterprise. As the carrier of the financial situation of the enterprise, the financial report is the document that carries on the summary to the listed company's financial condition regularly. It reflects the financial situation and operating results of the enterprise in detail. In China's securities market, the index of price-to-earnings ratio, price-to-book ratio and earnings per share has always been taken as a measure of the operating results of listed companies. However, with the increasing of social and economic conditions, it is gradually found that these traditional indicators can not reflect the true value of enterprises. Companies must constantly look for new performance indicators and financial methods. In this paper, through theoretical analysis and empirical research, and the combination of financial reporting research methods. Based on the financial ratio analysis and EVA model to evaluate the value of listed companies. Firstly, this paper describes the purpose and significance of the topic, domestic and foreign research status, research content and research methods; Secondly, this paper introduces several existing enterprise valuation models, compares the EVA model with other major enterprise valuation models, and draws the conclusion that the EVA valuation model can truly reflect the enterprise value. There are unique advantages in enterprise valuation; Thirdly, it introduces the development of the garden industry in China, focusing on the oriental garden development history, development environment and karyotype competitiveness; Finally, based on the financial report, the financial ratio of Oriental Garden is analyzed, and the value of Dongfang Garden Co., Ltd is evaluated by applying the model of economic added value, and the enterprise value of Oriental Garden is obtained. The innovation of this paper is the use of financial ratio analysis and economic value added model to evaluate all the processes of eastern gardens, which is relatively less in China. This paper hopes to explore the value of eastern gardens. It can provide useful reference for investors and can be applied to other listed companies.
【學(xué)位授予單位】：哈爾濱工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F426.92;F406.7

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