本文關(guān)鍵詞：Z百貨公司企業(yè)價(jià)值測評及驅(qū)動因素研究　出處：《沈陽工業(yè)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

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【摘要】：現(xiàn)階段我國經(jīng)濟(jì)處于結(jié)構(gòu)化調(diào)整和發(fā)展轉(zhuǎn)型的新常態(tài)時(shí)期,經(jīng)濟(jì)增速不斷放緩,零售行業(yè)受經(jīng)濟(jì)低迷、市場競爭加劇等因素的影響,所面臨的形勢非常嚴(yán)峻。與此同時(shí),電子商務(wù)的蓬勃發(fā)展對傳統(tǒng)營銷模式和銷售渠道形成了強(qiáng)烈沖擊,2015年全國網(wǎng)上銷售額占社會消費(fèi)品零售總額的12.9%,實(shí)體經(jīng)濟(jì)面臨著消費(fèi)方式與技術(shù)進(jìn)步的改變與挑戰(zhàn)。另外,隨著我國經(jīng)濟(jì)的發(fā)展,企業(yè)的經(jīng)營管理體系發(fā)生改變,企業(yè)管理者將更多的目光放在企業(yè)價(jià)值管理上,如何提升企業(yè)價(jià)值則成為企業(yè)財(cái)務(wù)管理和戰(zhàn)略管理所關(guān)注的重點(diǎn)。Z百貨公司是傳統(tǒng)零售百貨公司,在經(jīng)濟(jì)蕭條的大環(huán)境下,又面臨著新型消費(fèi)方式與商業(yè)模式的變革,其經(jīng)營業(yè)績不盡如人意。企業(yè)管理者如何做出合理的決策,幫助企業(yè)在蕭條經(jīng)濟(jì)下獲得更大的價(jià)值,就需要借助企業(yè)價(jià)值評估這一方法。評估Z百貨公司的企業(yè)價(jià)值、找到影響其企業(yè)價(jià)值的關(guān)鍵驅(qū)動因素、為其企業(yè)價(jià)值提升提出相關(guān)建議是當(dāng)前幫助Z百貨公司走出困境的有效方式。本文以企業(yè)價(jià)值相關(guān)理論為基礎(chǔ)。首先,對目標(biāo)企業(yè)Z百貨公司企業(yè)概況與行業(yè)發(fā)展?fàn)顩r進(jìn)行分析,從整體上了解目標(biāo)企業(yè)發(fā)展?fàn)顩r及其行業(yè)發(fā)展特點(diǎn)。然后,采用自由現(xiàn)金流量法對Z百貨公司企業(yè)價(jià)值進(jìn)行評估,同時(shí)選取同行業(yè)其他兩家公司南京新百和廣州友誼作為對比企業(yè),運(yùn)用相同方法對其企業(yè)價(jià)值進(jìn)行評估。得出三家企業(yè)企業(yè)價(jià)值由高到低依次是:南京新百、Z百貨公司和廣州友誼。接著,以企業(yè)價(jià)值評估結(jié)果為依據(jù),對三家企業(yè)歷史數(shù)據(jù)進(jìn)行對比分析并與行業(yè)相關(guān)數(shù)據(jù)進(jìn)行對比,分析各驅(qū)動因素給企業(yè)價(jià)值帶來的影響,找出關(guān)鍵驅(qū)動因素為銷售收入、銷售成本和資本成本三項(xiàng)。最后,對這三項(xiàng)關(guān)鍵驅(qū)動因素進(jìn)行深入分析,并提出企業(yè)價(jià)值提升策略。對Z百貨公司企業(yè)價(jià)值進(jìn)行評估并研究其影響價(jià)值的關(guān)鍵驅(qū)動因素,不僅可以為零售百貨行業(yè)其他企業(yè)在企業(yè)價(jià)值提升方面提供了很好的借鑒,同時(shí)也能使企業(yè)價(jià)值評估理論能夠更好的為我國市場經(jīng)濟(jì)的發(fā)展服務(wù)。
[Abstract]:At the present stage of China's economic structural adjustment and development in the transformation of the new normal period, slowing economic growth, the retail industry affected by the economic downturn, market competition and other factors, the situation is very serious. At the same time, the rapid development of electronic commerce has formed a strong impact on the traditional mode of marketing and sales channels nationwide in 2015 online sales accounted for 12.9% of total retail sales, the real economy is facing the changes and challenges of consumption and technology progress. In addition, with the development of China's economy, the management system of enterprise change, enterprise managers will be more focus on enterprise value management, how to enhance the enterprise value has become the focus of.Z department store enterprise financial management and strategic management is concerned with the traditional retail stores, in the economic recession, and facing the new consumer With the change in the business model, its operating performance is not satisfactory. The enterprise managers to make rational decisions, help enterprises get more value in the economic recession, needs the enterprise value assessment method. The evaluation of Z department store to find the key to influence the enterprise value, enterprise value driving factors for the the enterprise value promotion suggestions is an effective way to help the Z department store to get out of the dilemma. Based on the enterprise value theory. Firstly, to analyze the situation and development of industry enterprise Z department store business, understand the development characteristics of the development status of the target enterprise and the industry as a whole. Then, the free cash flow to evaluate the Z department store business value, and select the same industry in other two companies in Guangzhou and Nanjing new friendship as compared with the same enterprise, Party To evaluate the value of the enterprise. The three enterprise value from high to low is: Nanjing, Z department store and Guangzhou friendship. Then, the enterprise value evaluation based on the results of the comparative analysis of the historical data of three companies and compared with related data, analyzing the effect of various driving factors bring to the value of the enterprise, find out the key driving factors for sales, cost of sales and the cost of capital of three. Finally, the paper analyzes the three key driving factors, and puts forward the strategy to enhance enterprise value. The Z department store enterprise value evaluation and the key driving factors to study the effect of value, not only for retail other companies in the industry to provide a good reference in improving the enterprise value, but also better able to make the enterprise value evaluation theory for development of market economy in our country.

【學(xué)位授予單位】：沈陽工業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F721;F715.5

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本文編號：1376599