【摘要】：長慶油田分公司礦區(qū)服務(wù)事業(yè)部(簡稱CQ礦區(qū))的資本運營使企業(yè)能夠通過投資、融資、兼并、收購、重組和產(chǎn)權(quán)交易等手段,實現(xiàn)資本的優(yōu)化配置和資本價值的最大化,從而使企業(yè)競爭力得到全面提升。由于企業(yè)外部環(huán)境復(fù)雜且處在不斷變化之中,而企業(yè)對其的發(fā)現(xiàn)和適應(yīng)力有限,而企業(yè)對資本運營風(fēng)險的控制對經(jīng)營業(yè)績必然產(chǎn)生影響,或?qū)е沦Y本運營風(fēng)險,或資本運營無法完成既定目標(biāo),因此資本運營風(fēng)險控制在CQ礦區(qū)經(jīng)營過程中發(fā)揮著積極的作用,同時具有十分重要的研究價值。本文通過文獻(xiàn)研究法對EVA業(yè)績評價和資本運營風(fēng)險的相關(guān)理論進(jìn)行整理和分析,總結(jié)國內(nèi)外學(xué)者的研究現(xiàn)狀,歸納了理論核心要點。接著使用EVA業(yè)績評價結(jié)果進(jìn)行風(fēng)險識別,后通過案例分析法、問卷調(diào)查法和杜邦分析法對案例企業(yè)的資本運營情況進(jìn)行了詳細(xì)的分析,解析CQ礦區(qū)的系統(tǒng)性風(fēng)險和非系統(tǒng)性風(fēng)險,并結(jié)合企業(yè)資本運營的實際情況,歸納出企業(yè)存在資本運營結(jié)構(gòu)較單一、宏觀調(diào)控影響較大、缺少科學(xué)的資本運營理念、缺乏高質(zhì)量的資本運營人才儲備,以及資本運營項目管理流程存在漏洞這五點主要的風(fēng)險成因。針對上述風(fēng)險的成因,本文重新構(gòu)建了以EVA為導(dǎo)向的資本運營風(fēng)險控制體系,并建議企業(yè)采取對資本運營理念、人才培養(yǎng)、多元化運營和對風(fēng)險規(guī)避方式的探索等四個方面的完善和建設(shè),提出了一套完整的解決方案,幫助企業(yè)實現(xiàn)對資本運營風(fēng)險的全面控制。
[Abstract]:The capital operation of Changqing Oilfield Branch Mining area Service Division (CQ Mining area) enables enterprises to optimize the allocation of capital and maximize the value of capital by means of investment, financing, mergers, acquisitions, reorganization and property rights transactions. Thus, the competitiveness of enterprises has been comprehensively promoted. Because the external environment of the enterprise is complex and constantly changing, and the discovery and adaptability of the enterprise is limited, the control of the risk of capital operation will inevitably have an impact on the business performance, or lead to the risk of capital operation. Or capital operation can not achieve the established goal, so the risk control of capital operation plays an active role in the process of CQ mining area management, and has very important research value at the same time. Based on the literature research method, this paper collates and analyzes the relevant theories of EVA performance evaluation and capital operation risk, summarizes the current research situation of domestic and foreign scholars, and sums up the key points of the theory. Then use the results of EVA performance evaluation to identify the risk, and then through the case analysis, questionnaire and DuPont analysis of the case of the capital operation of a detailed analysis. By analyzing the systematic and non-systematic risks in CQ mining area and combining with the actual situation of enterprise capital operation, it is concluded that there is a single structure of capital operation in enterprises, which has a great influence on macro regulation and control, and lacks the scientific concept of capital operation. The lack of high-quality capital operation talents and the loopholes in the capital operation project management process are the five main risk factors. In view of the causes of the above risks, this paper reconstructs the risk control system of capital operation based on EVA, and suggests that enterprises should adopt the concept of capital operation and personnel training. This paper puts forward a set of complete solutions to the improvement and construction of diversification operation and exploration of risk aversion, which helps the enterprise to realize the overall control of the risk of capital operation.
【學(xué)位授予單位】：西安石油大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：F275

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