本文關(guān)鍵詞： 海爾 輕資產(chǎn)盈利模式 財(cái)務(wù)績(jī)效 價(jià)值管理　出處：《湖南大學(xué)》2014年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：經(jīng)過(guò)多年的發(fā)展，家電制造業(yè)已經(jīng)成長(zhǎng)為中國(guó)的標(biāo)桿性支柱產(chǎn)業(yè)。然而伴隨著產(chǎn)能的嚴(yán)重過(guò)剩、凈利潤(rùn)的不斷下滑以及企業(yè)籌集資本的困境，傳統(tǒng)的靠?jī)r(jià)格和規(guī)模取勝的重資產(chǎn)盈利模式正在成為我國(guó)家電業(yè)可持續(xù)發(fā)展的瓶頸問(wèn)題。在21世紀(jì)“軟性制造”的時(shí)代，如何避“重”就“輕”，提高投資收益率，驅(qū)動(dòng)企業(yè)長(zhǎng)期價(jià)值，構(gòu)建適合自身的可持續(xù)盈利模式，為家電行業(yè)帶來(lái)為家電行業(yè)帶來(lái)源源不斷的利潤(rùn)和持續(xù)競(jìng)爭(zhēng)優(yōu)勢(shì)，進(jìn)而實(shí)現(xiàn)我國(guó)由家電大國(guó)向家電強(qiáng)國(guó)的目標(biāo)變得尤為迫切。 本文從價(jià)值鏈理論和財(cái)務(wù)績(jī)效理論入手，通過(guò)對(duì)輕資產(chǎn)盈利模式相關(guān)理論的闡述與分析，，并結(jié)合家電行業(yè)的標(biāo)桿企業(yè)海爾為例，系統(tǒng)分析并總結(jié)出海爾所表現(xiàn)出來(lái)的輕資產(chǎn)盈利模式財(cái)務(wù)特征：現(xiàn)金儲(chǔ)備較高、應(yīng)收賬款和存貨比例很低、流動(dòng)資產(chǎn)很高、固定資產(chǎn)比例很低、有息負(fù)債和長(zhǎng)期負(fù)債很低。在此基礎(chǔ)上，結(jié)合盈利模式的一般分析要點(diǎn)：產(chǎn)品策略、采購(gòu)策略、運(yùn)營(yíng)策略、銷(xiāo)售策略、研發(fā)策略、資本策略、融資策略、現(xiàn)金策略針對(duì)性地分析海爾輕資產(chǎn)盈利模式策略的財(cái)務(wù)績(jī)效，并將其與競(jìng)爭(zhēng)對(duì)手格力、美的進(jìn)行對(duì)比，進(jìn)一步證實(shí)了海爾由制造化向服務(wù)化轉(zhuǎn)型過(guò)程中以?xún)r(jià)值最大化為導(dǎo)向?qū)嵤┹p資產(chǎn)盈利模式的優(yōu)越性，闡述了海爾良好的價(jià)值管理。不過(guò)在持續(xù)轉(zhuǎn)型期海爾還應(yīng)加強(qiáng)對(duì)現(xiàn)金儲(chǔ)備形式、管理費(fèi)用以及應(yīng)收票據(jù)的規(guī)劃與控制。同時(shí)也證實(shí)了輕資產(chǎn)盈利模式與企業(yè)價(jià)值最大化相輔相成的緊密關(guān)系。最后總結(jié)出海爾持續(xù)推進(jìn)輕資產(chǎn)盈利模式的成功經(jīng)驗(yàn)，為我國(guó)正在轉(zhuǎn)型的其他行業(yè)和相關(guān)企業(yè)提供一定的參考和借鑒。
[Abstract]:After years of development, the household appliance manufacturing industry has grown into a benchmark pillar industry in China. However, with the serious overcapacity, the declining net profit and the difficulty of raising capital, In 21th century, in the era of "soft manufacturing", how to avoid the "heavy" and "light", how to improve the rate of return on investment, is becoming the bottleneck of the sustainable development of China's home appliance industry. Driving the long-term value of the enterprise, building a sustainable profit model suitable for itself, bringing continuous profits and continuous competitive advantages for the household appliance industry, Therefore, it is urgent to realize the goal of our country from a large country of household appliances to a powerful country of household appliances. This paper starts with the theory of value chain and financial performance, through expounding and analyzing the theory of profit model of light assets, and combining Haier, a benchmark enterprise in household appliance industry, as an example. This paper systematically analyzes and summarizes the financial characteristics of Haier's profit pattern of light assets: high cash reserve, low ratio of accounts receivable and inventory, high current assets, and low proportion of fixed assets. On this basis, combined with the general analysis of the main points of the profit model: product strategy, procurement strategy, operational strategy, sales strategy, R & D strategy, capital strategy, financing strategy, The cash strategy analyzes the financial performance of Haier light asset profit model strategy, and compares it with rival Gree and US. Further confirmed the Haier from manufacturing to service in the process of transformation to maximize value oriented implementation of light assets profit model superiority, This paper expounds Haier's good value management. However, in the continuous transition period, Haier should also strengthen the form of cash reserve. At the same time, it proves the close relationship between the profit model of light assets and the maximization of enterprise value. Finally, it summarizes the successful experience of Haier in continuously promoting the profit model of light assets. For our country is transforming other industries and related enterprises to provide certain reference and reference.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F406.7;F426.6

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