發(fā)布時(shí)間：2018-04-10 03:23

  本文選題：創(chuàng)業(yè)板　切入點(diǎn)：知識(shí)資產(chǎn)　出處：《太原理工大學(xué)》2014年碩士論文

【摘要】：科技在進(jìn)步,時(shí)代在發(fā)展,市場(chǎng)競(jìng)爭(zhēng)也越來(lái)越激烈,知識(shí)資產(chǎn)正在受到越來(lái)越多上市公司與投資者的認(rèn)可與關(guān)注。2009年10月30日,十年磨一劍的創(chuàng)業(yè)板市場(chǎng)在我國(guó)深圳證券交易所正式設(shè)立。作為我國(guó)資本市場(chǎng)中最活躍、最具潛力的群體,創(chuàng)業(yè)板市場(chǎng)定位于促進(jìn)自主創(chuàng)新企業(yè)及其它成長(zhǎng)型企業(yè)的發(fā)展,為具有發(fā)展?jié)摿Φ膭?chuàng)新型中小高新技術(shù)企業(yè)提供直接融資渠道。很大程度上,無(wú)形資產(chǎn)尤其知識(shí)資產(chǎn)才是創(chuàng)業(yè)板上市公司贏得競(jìng)爭(zhēng)優(yōu)勢(shì)的關(guān)鍵資源和實(shí)現(xiàn)公司價(jià)值創(chuàng)造的核心驅(qū)動(dòng)力量。創(chuàng)業(yè)板市場(chǎng)在我國(guó)正式設(shè)立已經(jīng)四余年,財(cái)務(wù)數(shù)據(jù)也初具規(guī)模,如今針對(duì)創(chuàng)業(yè)板上市公司知識(shí)資產(chǎn)與公司價(jià)值的相關(guān)性展開(kāi)研究,是迫切與合理的。 本文全面歸納與總結(jié)了截至2013年12月31日上市的355家創(chuàng)業(yè)板公司知識(shí)資產(chǎn)的主要內(nèi)容及其特點(diǎn)。以公司價(jià)值創(chuàng)造理論為研究視角,闡述創(chuàng)業(yè)板公司知識(shí)資產(chǎn)現(xiàn)狀分析的客觀必要性,并以創(chuàng)業(yè)板公司年度財(cái)務(wù)報(bào)告中披露的知識(shí)資產(chǎn)信息為基礎(chǔ),綜合分析我國(guó)創(chuàng)業(yè)板上市公司2009年至2012年四個(gè)年度知識(shí)資產(chǎn)的整體現(xiàn)狀與內(nèi)容構(gòu)成情況。通過(guò)比較分析以往學(xué)者對(duì)于影響公司價(jià)值創(chuàng)造一般因素的不同觀點(diǎn),探討知識(shí)資產(chǎn)在公司價(jià)值創(chuàng)造中的作用途徑,并結(jié)合我國(guó)創(chuàng)業(yè)板公司的自身特色,重點(diǎn)分析了知識(shí)資產(chǎn)對(duì)創(chuàng)業(yè)板公司價(jià)值創(chuàng)造與提升的特定作用。在此基礎(chǔ)上,分析得出知識(shí)資產(chǎn)對(duì)公司價(jià)值創(chuàng)造的驅(qū)動(dòng)特點(diǎn)與抑制特點(diǎn)。然后,基于知識(shí)資產(chǎn)對(duì)于公司價(jià)值創(chuàng)造的作用機(jī)理,提出兩大研究假設(shè),選取與定義研究變量,并參照、調(diào)整以往學(xué)者的研究成果,構(gòu)建了本文的公司股價(jià)模型與業(yè)績(jī)模型。緊接著,本文選取了123家創(chuàng)業(yè)板公司作為研究樣本,對(duì)樣本公司知識(shí)資產(chǎn)的整體狀況、具體構(gòu)成情況及其兩個(gè)模型中的有關(guān)變量進(jìn)行了描述性統(tǒng)計(jì)分析。在此基礎(chǔ)上,分別對(duì)2010年至2012年三年的分年度樣本和混合樣本的股價(jià)模型與業(yè)績(jī)模型進(jìn)行相關(guān)性分析與回歸分析,較完整檢驗(yàn)了知識(shí)資產(chǎn)與創(chuàng)業(yè)板公司價(jià)值的相關(guān)性。最后,在理論分析與實(shí)證檢驗(yàn)的基礎(chǔ)上得出了本文的研究結(jié)論,并提出了相關(guān)對(duì)策建議。
[Abstract]:Science and technology are progressing, times are developing, market competition is becoming more and more intense, knowledge assets are being recognized and concerned by more and more listed companies and investors. October 30, 2009,The growth Enterprise Market (gem), which has been milled for ten years, was formally established on the Shenzhen Stock Exchange of China.As the most active and potential group in China's capital market, the gem market aims at promoting the development of independent innovation enterprises and other growth enterprises, and provides direct financing channels for innovative small and medium-sized high-tech enterprises with development potential.To a large extent, intangible assets, especially knowledge assets, are the key resources for gem listed companies to win competitive advantage and the core driving force to realize the creation of corporate value.The gem market has been established in our country for more than four years, and the financial data is beginning to take shape. Now, it is urgent and reasonable to study the correlation between the knowledge assets and corporate value of gem listed companies.This paper summarizes the main contents and characteristics of the knowledge assets of 355 gem companies listed on December 31, 2013.From the perspective of the theory of company value creation, this paper expounds the objective necessity of analyzing the current situation of knowledge assets of gem companies, and based on the information of knowledge assets disclosed in the annual financial reports of gem companies.This paper comprehensively analyzes the present situation and content composition of four annual knowledge assets of gem listed companies in China from 2009 to 2012.By comparing and analyzing the different views of scholars on the general factors affecting the creation of corporate value, this paper discusses the role of knowledge assets in the creation of corporate value, and combines the characteristics of gem companies in our country.This paper analyzes the specific role of knowledge assets in value creation and promotion of gem companies.On this basis, the driving and restraining characteristics of knowledge assets on the creation of corporate value are obtained.Then, based on the mechanism of knowledge assets on the creation of corporate value, two research hypotheses are put forward. The research variables are selected and defined, and the research results of previous scholars are adjusted to construct the stock price model and performance model of this paper.Then, this paper selects 123 gem companies as the research sample, and makes descriptive statistical analysis on the overall status, specific composition and related variables in the two models of the knowledge assets of the sample companies.On this basis, the correlation analysis and regression analysis between the stock price model and the performance model of the annual sample and mixed sample from 2010 to 2012 are carried out, and the correlation between the knowledge assets and the value of gem companies is tested completely.Finally, on the basis of theoretical analysis and empirical test, the conclusion of this paper is drawn, and the relevant countermeasures and suggestions are put forward.
【學(xué)位授予單位】：太原理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.51;F275;F272

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