基于EVA的航空企業(yè)價值驅(qū)動因素研究
發(fā)布時間：2018-12-18 09:45
【摘要】：自改革開放以來,我國民航業(yè)發(fā)展迅猛,成為了繼美國之后的世界第二大民航運輸系統(tǒng),在國內(nèi)外的舞臺上均占據(jù)了重要的作用。但民航大國并不意味著民航強國,我國絕大多數(shù)航空企業(yè)都是處于虧損狀態(tài),并且受經(jīng)濟波動的影響很大,與國外航空企業(yè)相比,整體競爭力比較薄弱。另外,近年來高速鐵路的快速發(fā)展也對我國航空企業(yè)產(chǎn)生巨大的影響,搶占航空公司市場,對其形成較大的威脅。在這樣內(nèi)外夾擊的嚴峻環(huán)境下,從價值管理的角度找出航空企業(yè)價值驅(qū)動因素進而提高航空企業(yè)價值顯得尤為重要。 本文首先結(jié)合航空企業(yè)的特點,從航空企業(yè)價值來源的利益相關(guān)者著手研究,各利益相關(guān)者對航空企業(yè)的影響不同,并最終共同決定了航空企業(yè)的價值。其次,借助于EVA指標,使用杜邦分析的方法對EVA指標進行層層分解,明確了航空企業(yè)EVA指標的構(gòu)成,在此基礎(chǔ)上構(gòu)建了具有“航空企業(yè)特色”的價值驅(qū)動因素模型。最后,在理論分析的基礎(chǔ)上進行實際案例研究。在明確南方航空基本面基礎(chǔ)上,使用其歷史六年的數(shù)據(jù)對其運營狀況進行分析,得出南方航空價值表現(xiàn)層EVA的變化過程。再從運營狀況著手,找出南方航空價值驅(qū)動層的關(guān)鍵因素,并有針對性地提出了提高南方航空價值的建議。具體包括四點,即提升行業(yè)價值、控制燃油成本、控制人力成本和注重投資與效益的關(guān)系。 本文采用統(tǒng)計分析、理論與案例分析相結(jié)合的研究方法,得出了如下的結(jié)論：(1)確定了航空企業(yè)的主要利益相關(guān)者；(2)總結(jié)了各利益相關(guān)者對航空企業(yè)價值的影響,構(gòu)建了具有鮮明航空業(yè)特征的價值驅(qū)動因素模型；(3)梳理了利益相關(guān)者與航空企業(yè)價值的關(guān)系,即利益相關(guān)者的行為通過作用于關(guān)鍵價值驅(qū)動因素影響了企業(yè)EVA的增長水平,進而決定了航空企業(yè)未來價值的增長。
[Abstract]:Since the reform and opening up, China's civil aviation industry has developed rapidly, and has become the second largest civil aviation transportation system in the world after the United States, and has played an important role on the stage at home and abroad. However, a large civil aviation country does not mean a strong civil aviation power. Most aviation enterprises in China are in a state of loss, and are greatly affected by economic fluctuations. Compared with foreign aviation enterprises, the overall competitiveness is relatively weak. In addition, the rapid development of high-speed railway in recent years has had a great impact on the aviation enterprises in our country, and it has become a great threat to the airline market. Under the severe environment of internal and external attack, it is very important to find out the driving factor of aviation enterprise value from the angle of value management, and then to improve the value of aviation enterprise. Based on the characteristics of aviation enterprises, this paper starts with the study of the stakeholders of the value source of the aviation enterprises. The influence of the stakeholders on the aviation enterprises is different, and finally the value of the aviation enterprises is decided together. Secondly, with the help of the EVA index and the method of DuPont analysis, the paper decomposes the EVA index layer by layer, defines the composition of the EVA index of the aviation enterprise, and on this basis, constructs the value driving factor model with the "aviation enterprise characteristic". Finally, on the basis of theoretical analysis, an actual case study is carried out. On the basis of clarifying the fundamental aspects of Southern Aviation, this paper analyzes its operation condition by using its data of six years' history, and obtains the changing process of EVA in the performance layer of Southern Aviation value. Then the key factors of the driving layer of Southern Aviation value are found out from the point of view of operation condition, and some suggestions to improve the value of Southern Aviation are put forward. It includes four points, that is, to enhance industry value, to control fuel cost, to control labor cost and to pay attention to the relationship between investment and efficiency. In this paper, the statistical analysis, theory and case analysis are combined to draw the following conclusions: (1) to determine the main stakeholders of aviation enterprises; (2) the influence of stakeholders on the value of aviation enterprises is summarized, and the value driving factor model with distinct characteristics of aviation industry is constructed. (3) combing the relationship between stakeholders and airline enterprise value, that is, the behavior of stakeholders affects the growth level of EVA by acting on the key value drivers, and then determines the future growth of airline value.
【學(xué)位授予單位】：武漢理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F562.6
本文編號：2385667
[Abstract]:Since the reform and opening up, China's civil aviation industry has developed rapidly, and has become the second largest civil aviation transportation system in the world after the United States, and has played an important role on the stage at home and abroad. However, a large civil aviation country does not mean a strong civil aviation power. Most aviation enterprises in China are in a state of loss, and are greatly affected by economic fluctuations. Compared with foreign aviation enterprises, the overall competitiveness is relatively weak. In addition, the rapid development of high-speed railway in recent years has had a great impact on the aviation enterprises in our country, and it has become a great threat to the airline market. Under the severe environment of internal and external attack, it is very important to find out the driving factor of aviation enterprise value from the angle of value management, and then to improve the value of aviation enterprise. Based on the characteristics of aviation enterprises, this paper starts with the study of the stakeholders of the value source of the aviation enterprises. The influence of the stakeholders on the aviation enterprises is different, and finally the value of the aviation enterprises is decided together. Secondly, with the help of the EVA index and the method of DuPont analysis, the paper decomposes the EVA index layer by layer, defines the composition of the EVA index of the aviation enterprise, and on this basis, constructs the value driving factor model with the "aviation enterprise characteristic". Finally, on the basis of theoretical analysis, an actual case study is carried out. On the basis of clarifying the fundamental aspects of Southern Aviation, this paper analyzes its operation condition by using its data of six years' history, and obtains the changing process of EVA in the performance layer of Southern Aviation value. Then the key factors of the driving layer of Southern Aviation value are found out from the point of view of operation condition, and some suggestions to improve the value of Southern Aviation are put forward. It includes four points, that is, to enhance industry value, to control fuel cost, to control labor cost and to pay attention to the relationship between investment and efficiency. In this paper, the statistical analysis, theory and case analysis are combined to draw the following conclusions: (1) to determine the main stakeholders of aviation enterprises; (2) the influence of stakeholders on the value of aviation enterprises is summarized, and the value driving factor model with distinct characteristics of aviation industry is constructed. (3) combing the relationship between stakeholders and airline enterprise value, that is, the behavior of stakeholders affects the growth level of EVA by acting on the key value drivers, and then determines the future growth of airline value.
【學(xué)位授予單位】：武漢理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F562.6
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