【摘要】：隨著我國加入WTO，中國企業(yè)面臨的國際、國內(nèi)競爭日益激烈。市場競爭形勢的變化在客觀上推動了國內(nèi)企業(yè)集團(tuán)的發(fā)展，此外，我國政府也對企業(yè)集團(tuán)的發(fā)展給予政策和資金上的大力支持，我國企業(yè)集團(tuán)迎來大發(fā)展的黃金時期。 企業(yè)集團(tuán)的發(fā)展，離不開信貸資金的支持。商業(yè)銀行在企業(yè)集團(tuán)的發(fā)展中，特別是在企業(yè)集團(tuán)的兼并收購中，為企業(yè)集團(tuán)提供了資金支持。企業(yè)集團(tuán)一般規(guī)模都較大，有資產(chǎn)做抵押或有關(guān)聯(lián)企業(yè)的擔(dān)保，成為商業(yè)銀行競相爭奪的優(yōu)質(zhì)客戶。商業(yè)銀行和企業(yè)集團(tuán)之間的關(guān)系具有一定“粘性”，他們一般處于同一利益同盟，但由于企業(yè)集團(tuán)組織形式的特殊性，特別是企業(yè)集團(tuán)的多元化、跨行業(yè)、跨地區(qū)經(jīng)營以及我國財(cái)務(wù)報(bào)告的“雙重披露制度”，使得商業(yè)銀行與企業(yè)集團(tuán)客戶之間的信息不對稱尤為嚴(yán)重，這加大了商業(yè)銀行的信貸風(fēng)險。因此，如何緩解商業(yè)銀行與企業(yè)集團(tuán)之間的信息不對稱尤為重要。 對企業(yè)集團(tuán)的財(cái)務(wù)報(bào)表進(jìn)行分析是商業(yè)銀行獲取企業(yè)集團(tuán)信息的重要途徑，是緩解信息不對稱的重要方法，也是商業(yè)銀行風(fēng)險管理的重要手段。因此，財(cái)務(wù)分析在商業(yè)銀行的信貸決策中具有非常重要的作用。而目前對于企業(yè)集團(tuán)的財(cái)務(wù)分析研究，一般默認(rèn)是對合并會計(jì)報(bào)表的分析，由于企業(yè)的有限責(zé)任原則以及企業(yè)集團(tuán)的資金管理模式的多樣性，導(dǎo)致這種分析方法具有非常大的局限，尚無法滿足商業(yè)銀行進(jìn)行信貸決策的要求。 本文正是以此為突破口，結(jié)合企業(yè)集團(tuán)理論、財(cái)務(wù)分析理論以及利益相關(guān)者理論，研究從商業(yè)銀行視角對企業(yè)集團(tuán)財(cái)務(wù)分析的必要性。按照企業(yè)集團(tuán)提供的財(cái)務(wù)報(bào)表將財(cái)務(wù)分析分為合并財(cái)務(wù)報(bào)表分析、母公司財(cái)務(wù)報(bào)表分析和子公司財(cái)務(wù)報(bào)表分析，并對每種報(bào)表的分析內(nèi)容、目的、方法分別進(jìn)行界定，進(jìn)而提出每一單一分析方法的局限性，最后提出綜合利用合并財(cái)務(wù)報(bào)表、母公司報(bào)表以及子公司報(bào)表建立企業(yè)集團(tuán)財(cái)務(wù)分析體系的觀點(diǎn)。特別是，隨著新會計(jì)準(zhǔn)則的執(zhí)行，合并財(cái)務(wù)報(bào)表和母公司財(cái)務(wù)報(bào)表在反映企業(yè)集團(tuán)財(cái)務(wù)信息方面具有一定的互補(bǔ)作用，利用這種互補(bǔ)作用可以為商業(yè)銀行信貸決策提供更完善的信息。 本文可以大致分為五個部分： 第一章是導(dǎo)論，是此文的開篇，首先介紹文章選題的背景及意義，回顧并評價國內(nèi)外企業(yè)集團(tuán)財(cái)務(wù)分析研究已經(jīng)取得的成果，進(jìn)而說明文章的研究范圍、研究目的、研究方法、研究思路與框架，以及文章可能具有的創(chuàng)新觀點(diǎn)。 第二章是相關(guān)理論的介紹，主要介紹我國企業(yè)集團(tuán)的含義、特征和融資模式等以及由此導(dǎo)致的商業(yè)銀行信貸風(fēng)險。 第三、四、五、六章是文章的第三部分，這部分從企業(yè)集團(tuán)的合并財(cái)務(wù)報(bào)表、母公司報(bào)表以及子公司報(bào)表的角度將財(cái)務(wù)分析重新進(jìn)行分類，并從償債能力、營運(yùn)能力、盈利能力等方面就每一種分析方法展開論述。 第七章是本文的第四部分，結(jié)合前面章節(jié)的論述，按照企業(yè)集團(tuán)融資模式的不同將企業(yè)集團(tuán)分類，并針對每種融資模式，，構(gòu)建企業(yè)集團(tuán)的財(cái)務(wù)分析體系。 第八章是文章的結(jié)論部分，主要是對全文的總結(jié)以及對未來研究的展望。
[Abstract]:With China's accession to the WTO, Chinese enterprises are facing increasingly fierce international and domestic competition. The change of market competition situation objectively promotes the development of domestic enterprise groups. In addition, the Chinese government also gives strong support to the development of enterprise groups in terms of policies and funds, and Chinese enterprise groups usher in a golden period of great development.
Commercial banks provide financial support for enterprise groups in the development of enterprise groups, especially in the merger and acquisition of enterprise groups. The relationship between commercial banks and enterprise groups is "sticky" to a certain extent, and they are generally in the same interest alliance. However, due to the particularity of the organizational form of enterprise groups, especially the diversification of enterprise groups, cross-industry, cross-regional operation and the "double disclosure system" of China's financial reports, commercial banks and enterprise group customers have become more and more important. Information asymmetry between households is particularly serious, which increases the credit risk of commercial banks. Therefore, how to alleviate the information asymmetry between commercial banks and enterprise groups is particularly important.
Analysis of financial statements of enterprise groups is an important way for commercial banks to obtain information of enterprise groups, an important way to alleviate information asymmetry, and an important means of risk management of commercial banks. Analytical study shows that the default is the analysis of consolidated financial statements. Due to the principle of limited liability of enterprises and the diversity of fund management modes of enterprise groups, this analysis method has very big limitations, and can not meet the requirements of commercial banks in making credit decisions.
Based on this, this paper studies the necessity of financial analysis of enterprise groups from the perspective of commercial banks by combining enterprise group theory, financial analysis theory and stakeholder theory. The analysis of financial statements and the analysis contents, purposes and methods of each statement are defined separately, and then the limitations of each single analysis method are put forward. Finally, the viewpoint of establishing a financial analysis system for enterprise groups by using consolidated financial statements, parent company statements and subsidiary company statements is put forward. And the financial statements and the parent company financial statements have complementary effects on reflecting the financial information of the enterprise group, which can provide more perfect information for the credit decision-making of commercial banks.
This article can be roughly divided into five parts.
The first chapter is the introduction, which is the beginning of this article. First, it introduces the background and significance of the topic, reviews and evaluates the achievements of financial analysis of enterprise groups at home and abroad, and then explains the scope of the article, research purposes, research methods, research ideas and frameworks, as well as the possible innovative viewpoints of the article.
The second chapter is the introduction of related theories, mainly introduces the meaning, characteristics and financing mode of enterprise groups in China and the resulting credit risk of commercial banks.
The third, fourth, fifth and sixth chapters are the third part of the article. This part reclassifies the financial analysis from the angles of consolidated financial statements, parent company statements and subsidiary company statements, and discusses each analysis method from the aspects of solvency, operating ability and profitability.
Chapter 7 is the fourth part of this paper. Combining with the discussion in the previous chapters, enterprise groups are classified according to the different financing modes of enterprise groups, and the financial analysis system of enterprise groups is constructed according to each financing mode.
Chapter 8 is the conclusion of the article, which is the summary of the whole paper and the prospect of future research.
【學(xué)位授予單位】：中國海洋大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F830.42

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