基于上市公司的我國(guó)高端裝備制造業(yè)融資效率研究
發(fā)布時(shí)間:2018-01-23 17:52
本文關(guān)鍵詞: 高端裝備制造業(yè) 融資效率 數(shù)據(jù)包絡(luò)分析 上市公司 出處:《湖南科技大學(xué)》2014年碩士論文 論文類型:學(xué)位論文
【摘要】:當(dāng)前,世界經(jīng)濟(jì)正在發(fā)生深刻的變化。金融危機(jī)過后,各國(guó)經(jīng)濟(jì)處于恢復(fù)和調(diào)整當(dāng)中,美國(guó)等西方發(fā)達(dá)國(guó)家為振興經(jīng)濟(jì),提出了“再工業(yè)化”,瞄準(zhǔn)高端制造業(yè)領(lǐng)域,謀求塑造新的經(jīng)濟(jì)增長(zhǎng)點(diǎn)。我國(guó)高端裝備的發(fā)展將面臨更加激烈的競(jìng)爭(zhēng),加速培育和發(fā)展高端裝備制造業(yè),是我國(guó)轉(zhuǎn)變經(jīng)濟(jì)發(fā)展方式,推進(jìn)產(chǎn)業(yè)結(jié)構(gòu)調(diào)整升級(jí)的內(nèi)在要求。2010年9月8日國(guó)務(wù)院常務(wù)會(huì)議通過了《國(guó)務(wù)院關(guān)于加快培育和發(fā)展戰(zhàn)略性新興產(chǎn)業(yè)的決定》,會(huì)議選擇了高端裝備制造業(yè)、節(jié)能環(huán)保、生物、新材料、新能源汽車、新能源和新一代信息技術(shù)七個(gè)戰(zhàn)略性新興產(chǎn)業(yè)。高端裝備制造業(yè)作為戰(zhàn)略性新興產(chǎn)業(yè)之一,具有不可替代的核心作用。資金是企業(yè)發(fā)展需要的血液,融資是企業(yè)發(fā)展壯大的必經(jīng)之路,融資效率是影響高端裝備制造企業(yè)發(fā)展成功與否的關(guān)鍵因素,研究高端裝備制造業(yè)上市公司融資效率問題,對(duì)加大高端裝備制造業(yè)的培育力度,實(shí)現(xiàn)由制造業(yè)大國(guó)向強(qiáng)國(guó)轉(zhuǎn)變具有重要的戰(zhàn)略意義。 本文懫用了DEA數(shù)據(jù)包絡(luò)分析的方法對(duì)我國(guó)高端裝備制造業(yè)的融資效率進(jìn)行了評(píng)價(jià),并在此基礎(chǔ)上建立了影響高端裝備制造業(yè)融資效率的影響因素面板數(shù)據(jù)模型,對(duì)影響高端裝備制造業(yè)融資效率的影響因素進(jìn)行了分析,最后對(duì)我國(guó)高端裝備制造業(yè)融資效率低下且呈下滑的趨勢(shì)狀況提出相應(yīng)的政策建議。本文在結(jié)構(gòu)上共分為六個(gè)章節(jié),第一章為緒論,主要闡述了本文研究的背景和意義、國(guó)內(nèi)外研究現(xiàn)狀及研究?jī)?nèi)容和方法。第二章介紹了企業(yè)融資的理論基礎(chǔ),界定了高端裝備制造業(yè)、融資效率、融資方式的概念,對(duì)融資理論和效率理論進(jìn)行了梳理,為本文的研究做理論支撐。第三章詳細(xì)的概述了我國(guó)高端裝備制造業(yè)發(fā)展特點(diǎn)、上市公司的概況、企業(yè)融資的現(xiàn)狀。第四章為本文的實(shí)證部分,介紹了DEA的基本模型,高端裝備制造業(yè)融資效率測(cè)度投入、產(chǎn)出指標(biāo)的選取、樣本選擇和數(shù)據(jù)來(lái)源,對(duì)融資效率測(cè)度結(jié)果進(jìn)行統(tǒng)計(jì)。第五章在分析影響我國(guó)高端裝備制造業(yè)融資效率的因素基礎(chǔ)上構(gòu)建面板數(shù)據(jù)模型對(duì)其進(jìn)行回歸實(shí)證分析,驗(yàn)證其影響因素的大小。第六章在前面的研究基礎(chǔ)上,得出研究結(jié)論,并對(duì)提高我國(guó)高端裝備制造業(yè)融資效率提出對(duì)策建議。
[Abstract]:At present, the world economy is undergoing profound changes. After the financial crisis, the economies of all countries are in the process of recovery and adjustment. The United States and other western developed countries have proposed "reindustrialization" in order to revitalize their economies. Aiming at the high-end manufacturing industry and seeking to shape a new economic growth point, the development of high-end equipment in China will face more fierce competition. To accelerate the cultivation and development of high-end equipment manufacturing industry is to transform the mode of economic development in China. In September 8th 2010, the executive meeting of the State Council adopted the "decision of the State Council on speeding up the cultivation and Development of Strategic emerging Industries". The conference selected high-end equipment manufacturing, energy conservation, environmental protection, biology, new materials, new energy vehicles. New energy and new generation of information technology seven strategic emerging industries. High-end equipment manufacturing as one of the strategic emerging industries, has an irreplaceable core role. Capital is the blood of the development of enterprises. Financing is the only way for enterprises to develop and grow. Financing efficiency is the key factor that affects the success of high-end equipment manufacturing enterprises. This paper studies the financing efficiency of listed companies in high-end equipment manufacturing industry. It is of great strategic significance to strengthen the cultivation of high-end equipment manufacturing industry and to transform from a large manufacturing country to a powerful country. This paper uses the method of DEA data envelopment analysis to evaluate the financing efficiency of China's high-end equipment manufacturing industry. On this basis, the factors influencing the financing efficiency of high-end equipment manufacturing industry are established, and the factors affecting the financing efficiency of high-end equipment manufacturing industry are analyzed. Finally, the financing efficiency of high-end equipment manufacturing industry in China is low and the trend is declining. The structure of this paper is divided into six chapters, the first chapter is the introduction. This paper mainly describes the background and significance of this study, domestic and foreign research status, research content and methods. The second chapter introduces the theoretical basis of enterprise financing, defines the high-end equipment manufacturing industry, financing efficiency. The concept of financing mode, financing theory and efficiency theory are combed, for the research of this paper to do theoretical support. Chapter three gives a detailed overview of the development of high-end equipment manufacturing industry in China, listed companies. Chapter 4th is the empirical part of this paper, which introduces the basic model of DEA, the measurement of financing efficiency of high-end equipment manufacturing industry, the selection of output index, sample selection and data source. Chapter 5th is based on the analysis of the factors affecting the financing efficiency of high-end equipment manufacturing industry in China. Chapter 5th builds a panel data model to analyze the financing efficiency of high-end equipment manufacturing industry. Chapter 6th, based on the previous research, draws a conclusion, and puts forward some countermeasures and suggestions to improve the financing efficiency of high-end equipment manufacturing industry in China.
【學(xué)位授予單位】:湖南科技大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2014
【分類號(hào)】:F426.4;F406.7
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