山西省上市公司促進區(qū)域經(jīng)濟發(fā)展的問題研究
發(fā)布時間:2018-03-06 22:00
本文選題:上市公司 切入點:區(qū)域經(jīng)濟發(fā)展 出處:《山西大學(xué)》2014年碩士論文 論文類型:學(xué)位論文
【摘要】:從20世紀70年代末期開始實施改革開放政策以來,中國逐漸由計劃經(jīng)濟體制向市場經(jīng)濟方向發(fā)展,伴隨著股份制經(jīng)濟的發(fā)展,中國資本市場也由此開始萌生。經(jīng)過了數(shù)十年的發(fā)展改革,我國資本市場從無到有,由小變大。從最初的只有數(shù)十家上市公司到現(xiàn)在擁有2000多家上市公司,總市值由1萬億元到現(xiàn)在近300萬億元。中國資本市場已經(jīng)由一個摸索嘗試的市場轉(zhuǎn)變成了中國經(jīng)濟中最不可或缺的一部分。隨著資本市場的發(fā)展壯大,作為資本市場的主體,上市公司在籌集資金、資源配置、制度管理方面有著天然的優(yōu)勢。其發(fā)展對于推動區(qū)域經(jīng)濟發(fā)展有著舉足輕重的作用。山西省是中國中部地區(qū)的能源大省,截至2011年,GDP首次突破1萬億大關(guān),全國經(jīng)濟總量排名第22位。雖然山西省資本市場發(fā)展較早,從1994年山西汾酒在上海證券交易所掛牌上市以來,已經(jīng)有近20年的發(fā)展,但是截至2011年山西省僅有34家公司上市,與中部地區(qū)其他省份還有著不小的差距。資本市場規(guī)模小、發(fā)展速度慢、產(chǎn)業(yè)分布嚴重不合理是山西省上市公司的現(xiàn)狀。那么山西省上市公司對于區(qū)域經(jīng)濟發(fā)展到底有沒有促進作用,而這種作用到底有多大。本文將采用理論與實證相結(jié)合的方法,清楚的反應(yīng)山西省上市公司對于區(qū)域經(jīng)濟發(fā)展的貢獻。本文首先總結(jié)了國內(nèi)外有關(guān)資本市場以及上市公司與區(qū)域經(jīng)濟發(fā)展的之間關(guān)系的研究成果,為文章的理論基礎(chǔ)做出了鋪墊。其次系統(tǒng)的描述了山西省經(jīng)濟發(fā)展現(xiàn)狀和山西省上市公司發(fā)展現(xiàn)狀,并和其他省份作對比,重點研究了山西省在經(jīng)濟發(fā)展中的優(yōu)勢和缺陷,以及山西省上市公司在區(qū)域經(jīng)濟中的定位。然后從理論分析角度對上市公司影響區(qū)域經(jīng)濟發(fā)展的作用機制進行嘗試性的探討。然后從實證的角度通過對山西省上市公司的發(fā)展規(guī)模與盈利情況對山西省歷年GDP數(shù)據(jù)進行ADF檢驗、格蘭杰因果關(guān)系檢驗、協(xié)整檢驗,證明了山西省上市公司發(fā)展情況對于促進區(qū)域經(jīng)濟發(fā)展有著一定的作用。并且詳細計算了山西省上市公司對區(qū)域經(jīng)濟的GDP貢獻、財政收入貢獻以及解決就業(yè)的貢獻。最后總結(jié)文章,發(fā)現(xiàn)山西省上市公司對于山西省經(jīng)濟發(fā)展有著巨大的貢獻,并針對山西省上市公司與區(qū)域經(jīng)濟協(xié)同發(fā)展提出了建議和展望。
[Abstract]:Since the implementation of the policy of reform and opening to the outside world in the end of 1970s, China has gradually developed from a planned economy to a market economy, with the development of the joint-stock economy. As a result, China's capital market has also begun to sprout. After decades of development and reform, China's capital market has grown from nothing, from small to large. From the beginning, there were only dozens of listed companies to now have more than 2,000 listed companies. Total market value has grown from 1 trillion yuan to nearly 300 trillion yuan now. China's capital market has changed from a trial market to the most indispensable part of the Chinese economy. As the capital market grows and grows, it is the main body of the capital market. Listed companies have natural advantages in raising funds, allocating resources and managing institutions. Their development plays an important role in promoting regional economic development. Shanxi Province is a major energy province in central China. By 2011, the country's total economic output had topped the 1 trillion mark for the first time, ranking 22nd. Although Shanxi's capital market developed earlier, it has been nearly 20 years since Shanxi Fenjiu was listed on the Shanghai Stock Exchange in 1994. But as of 2011, there were only 34 companies listed in Shanxi Province, which is still a big gap with other provinces in the central region. The capital market is small and slow. The serious unreasonable distribution of industries is the current situation of listed companies in Shanxi Province. So whether or not the listed companies in Shanxi Province can promote the development of regional economy, and how much this effect is, in the end, this paper will adopt the method of combining theory with empirical research. It clearly reflects the contribution of listed companies in Shanxi Province to the development of regional economy. Firstly, this paper summarizes the research results of the capital market and the relationship between listed companies and regional economic development at home and abroad. Secondly, it systematically describes the current economic development of Shanxi Province and the current situation of listed companies in Shanxi Province, and makes a comparison with other provinces, focusing on the advantages and disadvantages of Shanxi Province in economic development. And the position of the listed companies in the regional economy in Shanxi Province. Then from the perspective of theoretical analysis, this paper tries to explore the mechanism of the listed companies' influence on the development of regional economy. The development scale and profit of the city company are tested by ADF to the GDP data of Shanxi Province over the years. Granger causality test and cointegration test prove that the development of listed companies in Shanxi Province plays a certain role in promoting regional economic development, and the GDP contribution of listed companies to regional economy is calculated in detail. Finally, the paper concludes that the listed companies in Shanxi Province have great contribution to the economic development of Shanxi Province, and puts forward suggestions and prospects for the coordinated development of Shanxi listed companies and regional economy.
【學(xué)位授予單位】:山西大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2014
【分類號】:F127;F276.6
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