本文關(guān)鍵詞：哈藥集團(tuán)年報(bào)與證券分析師盈余預(yù)測(cè)偏差影響因素研究　出處：《哈爾濱商業(yè)大學(xué)》2014年碩士論文　論文類(lèi)型：學(xué)位論文

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【摘要】：經(jīng)濟(jì)危機(jī)給資本市場(chǎng)帶來(lái)了前所未有的沖擊,投資者憑借自身能力作出正確的投資決策越來(lái)越難,投資者就需要借鑒一個(gè)“代理人”幫助自己進(jìn)行投資決策。在這樣的背景下,證券分析師行業(yè)如雨后春筍般快速成長(zhǎng)起來(lái)。證券分析師利用自身的專(zhuān)業(yè)知識(shí)以及豐富的經(jīng)驗(yàn),對(duì)上市公司的盈利狀況進(jìn)行科學(xué)、合理的預(yù)測(cè),投資者可以利用證券分析師預(yù)測(cè)的結(jié)果進(jìn)行投資決策。證券分析師在資本市場(chǎng)上的作用越來(lái)越突出,其所出具的盈余預(yù)測(cè)報(bào)告對(duì)投資者越來(lái)越重要。 論文首先對(duì)上市公司年報(bào)與證券分析師盈余預(yù)測(cè)的相關(guān)理論進(jìn)行闡述,通過(guò)比較哈藥集團(tuán)2011-2013年年報(bào)與證券分析師的盈余預(yù)測(cè)報(bào)告結(jié)果,發(fā)現(xiàn)二者之間存在著偏差。通過(guò)分析影響哈藥集團(tuán)年報(bào)與證券分析師盈余預(yù)測(cè)差異的因素,指出證券分析師的獨(dú)立性、專(zhuān)業(yè)能力、職業(yè)傾向以及行業(yè)約束會(huì)導(dǎo)致證券分析師出具質(zhì)量不高的盈余預(yù)測(cè)報(bào)告,而哈藥集團(tuán)內(nèi)部資產(chǎn)注入、成本費(fèi)用控制、科技研發(fā)等方面的因素也會(huì)導(dǎo)致盈余預(yù)測(cè)報(bào)告同實(shí)際盈余存在偏差。最后提出為提高哈藥集團(tuán)盈余預(yù)測(cè)質(zhì)量,不僅要加強(qiáng)集團(tuán)內(nèi)部的管理水平,包括提高集團(tuán)財(cái)務(wù)會(huì)計(jì)管理水平、促進(jìn)產(chǎn)業(yè)結(jié)構(gòu)轉(zhuǎn)型升級(jí)和管理效能轉(zhuǎn)型升級(jí)等措施,還要提高證券分析師盈余預(yù)測(cè)的水平,確保縮小上市公司年報(bào)與證券分析師盈余預(yù)測(cè)結(jié)果偏差,為投資者進(jìn)行正確投資提供決策的依據(jù)。
[Abstract]:The economic crisis has brought unprecedented impact to the capital market, and it is becoming more and more difficult for investors to make the right investment decision with their own ability. Investors need to learn from an "agent" to help them make investment decisions. In this context. The industry of securities analysts has been growing rapidly. The securities analysts make use of their own professional knowledge and rich experience to make scientific and reasonable forecast on the profit status of listed companies. Investors can use the results of their forecasts to make investment decisions. Securities analysts are playing an increasingly important role in capital markets, and their earnings forecasts are becoming increasingly important to investors. Firstly, the paper expounds the related theories of listed companies' annual reports and securities analysts' earnings forecast, and compares the results of Harbin Pharmaceutical Group's 2011-2013 annual reports with securities analysts' earnings forecast reports. Through the analysis of the factors that affect the difference between the annual report of Harbin Pharmaceutical Group and the earnings forecast of securities analysts, it points out the independence and professional ability of securities analysts. Career orientation and industry constraints will lead securities analysts to issue a low quality earnings forecast report, while the group's internal assets injection, cost and cost control. Scientific and technological research and development factors will also lead to the earnings forecast report and actual earnings deviation. Finally, in order to improve the quality of Harbin Pharmaceutical Group earnings forecast, we should not only strengthen the management level within the group. Including improving the level of financial and accounting management, promoting the transformation of industrial structure and management efficiency transformation and upgrading measures, but also to improve the level of earnings forecast of securities analysts. To ensure that the deviation between the annual report of listed companies and the earnings forecast of securities analysts is reduced to provide a basis for investors to make the right investment decisions.
【學(xué)位授予單位】：哈爾濱商業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F426.72;F406.72

【共引文獻(xiàn)】

相關(guān)期刊論文 前1條

1 韓雨橋;王昱睿;;淺析“財(cái)務(wù)信息不透明”在不同環(huán)境下的影響[J];時(shí)代金融;2015年06期

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本文編號(hào)：1379617