【摘要】：鋼鐵工業(yè)一直是重要的國民經(jīng)濟基礎產(chǎn)業(yè),是經(jīng)濟社會發(fā)展水平和綜合實力的重要標志。自2005年版的鋼鐵產(chǎn)業(yè)政策發(fā)布,十年間中國鋼鐵產(chǎn)業(yè)取得了巨大的發(fā)展和非凡的成就,但同時也發(fā)掘出許多嚴重的問題。產(chǎn)業(yè)集中度低,產(chǎn)品結構矛盾突出,技術創(chuàng)新能力不強,生產(chǎn)布局不合理等加劇了產(chǎn)業(yè)結構失衡的矛盾。國際鐵礦價格持續(xù)攀升,鋼材價格大幅下跌,產(chǎn)品出廠價與市場價倒掛,這一系列問題已到了非解決不可的地步。研究正確的鋼鐵產(chǎn)業(yè)重組模式與途徑,解決鋼鐵行業(yè)發(fā)展中存在的問題,對于促進中國鋼鐵工業(yè)持續(xù)健康協(xié)調的發(fā)展,在國際競爭中獲得品牌優(yōu)勢,實現(xiàn)我國鋼鐵強國的戰(zhàn)略目標來說具有非常重要的現(xiàn)實意義。本文首先歸納總結了不同結論的國內外企業(yè)并購重組績效研究,并在這些案例的基礎上,對山東鋼鐵集團有限公司重組這一典型案例進行分析,研究了重組對山東鋼鐵集團經(jīng)營績效的影響。本文的創(chuàng)新點在于將定性評價與定量分析相結合的方式應用于企業(yè)績效研究中,通過調查研究重組前企業(yè)的重組動機和重組后所實施的整合措施,結合2010-2015年間修正的山鋼集團財務指標的變化和杜邦分析法下的各關聯(lián)指標進行深入研究,得出重組財務績效為負的結論。然后,本文根據(jù)績效研究結果,有針對性地提出了 4點能夠切實改善山東鋼鐵集團重組績效的建議。最后,總結了本案例對我國鋼鐵行業(yè)發(fā)展的啟示,并展望了山東鋼鐵可預見的美好未來。
[Abstract]:Iron and steel industry has been an important basic industry of the national economy and an important symbol of the level of economic and social development and comprehensive strength. Since the 2005 edition of the iron and steel industry policy, China's iron and steel industry has made great progress and remarkable achievements in the past decade, but at the same time, many serious problems have been discovered. The low degree of industrial concentration, the prominent contradiction of product structure, the weak ability of technological innovation and the unreasonable layout of production aggravate the contradiction of the imbalance of industrial structure. International iron ore prices continue to climb, steel prices fall sharply, ex-factory prices of products and market prices upside down, this series of problems have reached the point of having to solve. To study the correct mode and approach of iron and steel industry restructuring, to solve the problems existing in the development of iron and steel industry, to promote the sustainable healthy and coordinated development of China's iron and steel industry, and to gain brand advantages in international competition. It is of great practical significance to realize the strategic goal of our country's iron and steel power. This paper first summarizes the different conclusions of domestic and foreign M & A performance research, and on the basis of these cases, Shandong Iron and Steel Group Co., Ltd. restructuring of this typical case is analyzed. The effect of reorganization on the operating performance of Shandong Iron and Steel Group is studied. The innovation of this paper lies in the application of qualitative evaluation and quantitative analysis to the study of enterprise performance. Combined with the modified financial index of Shangang Group from 2010 to 2015 and the related indexes under DuPont analysis, the conclusion that the financial performance of recombination is negative is obtained. Then, according to the results of the performance study, this paper puts forward four suggestions to improve the reorganization performance of Shandong Iron and Steel Group. Finally, this paper summarizes the enlightenment of this case to the development of China's steel industry, and looks forward to the foreseeable future of Shandong Iron and Steel.
【學位授予單位】：北京交通大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F426.31;F271;F406.7

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