本文關(guān)鍵詞： 企業(yè)價(jià)值 價(jià)值創(chuàng)造能力提升 成長性 中小板　出處：《新疆財(cái)經(jīng)大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著經(jīng)濟(jì)的快速發(fā)展，企業(yè)要在競爭日趨激烈的市場中生存，必須整合一切有利于其價(jià)值創(chuàng)造能力提升的因素，其中企業(yè)成長的狀態(tài)對企業(yè)價(jià)值的增加有著重要的影響。本文主要論證企業(yè)發(fā)展的戰(zhàn)略決策對企業(yè)價(jià)值創(chuàng)造能力提升的影響，研究結(jié)果表明企業(yè)成長性與企業(yè)價(jià)值創(chuàng)造能力提升是顯著相關(guān)的。本文通過建立基于成長性的企業(yè)價(jià)值模型，分析企業(yè)的發(fā)展對其價(jià)值增長的貢獻(xiàn)，能夠促使企業(yè)有效分配資本、合理規(guī)劃資源配置，制定出適合本企業(yè)可持續(xù)發(fā)展的戰(zhàn)略規(guī)劃，進(jìn)而提升企業(yè)價(jià)值創(chuàng)造能力，增加企業(yè)在行業(yè)中的競爭力。為了上市，我國中小企業(yè)的管理層往往陷入盲目追求企業(yè)快速發(fā)展的誤區(qū)，本文針對這一現(xiàn)狀，，從企業(yè)價(jià)值增長的角度進(jìn)行分析，企業(yè)過于快速的增長會使其資源變得相當(dāng)緊張，影響資本的有效利用，給企業(yè)帶來很多的財(cái)務(wù)風(fēng)險(xiǎn)，甚至?xí)䦟?dǎo)致企業(yè)破產(chǎn)。因此，企業(yè)應(yīng)當(dāng)把目標(biāo)定位在其價(jià)值的可持續(xù)增長，即企業(yè)價(jià)值創(chuàng)造能力的提升這一方面。在研究的過程中本文采用Tobin’Q作為價(jià)值創(chuàng)造能力的衡量指標(biāo)，同時(shí)從成長速度和成長質(zhì)量這兩個(gè)方面衡量企業(yè)的成長性。本文將這樣的思路對我國中小板上市企業(yè)進(jìn)行大膽的運(yùn)用，并采用實(shí)證的研究方法進(jìn)行論證。 通過實(shí)證研究的數(shù)據(jù)發(fā)現(xiàn)，企業(yè)可持續(xù)成長能夠提升企業(yè)價(jià)值的創(chuàng)造能力，企業(yè)合理的發(fā)展確實(shí)是提升企業(yè)價(jià)值創(chuàng)造能力的重要?jiǎng)右颍@就意味著重視并采用正確的成長策略，能夠增加企業(yè)價(jià)值。由于篇幅所限，本文也只是進(jìn)行了一些嘗試性的探索研究，并基于對中小板上市企業(yè)的研究結(jié)果提出了一定的政策建議，期望對中小板上市企業(yè)的管理層進(jìn)行戰(zhàn)略決策時(shí)提供一定的參考。
[Abstract]:With the rapid development of the economy, if enterprises want to survive in an increasingly competitive market, they must integrate all the factors conducive to the enhancement of their ability to create value. The state of enterprise growth has an important impact on the increase of enterprise value. The results show that the growth of enterprises is significantly related to the enhancement of their value creation ability. This paper analyzes the contribution of the development of enterprises to the growth of enterprises through the establishment of a growth based enterprise value model. It can promote the enterprise to allocate capital effectively, plan resource allocation rationally, formulate strategic plan suitable for the sustainable development of the enterprise, and then enhance the ability of creating enterprise value, increase the competitiveness of enterprise in the industry. The management of small and medium-sized enterprises in our country often fall into the misunderstanding of blindly pursuing the rapid development of enterprises. This paper analyzes this situation from the point of view of the growth of enterprise value. The rapid growth of enterprises will make their resources become quite tight. Affecting the effective use of capital brings a lot of financial risks to the enterprise and even leads to the bankruptcy of the enterprise. Therefore, the enterprise should aim at the sustainable growth of its value. In the process of research, this paper adopts Tobin'Q as the measure of value creation ability. At the same time, the growth of enterprises is measured from two aspects: growth rate and growth quality. Through the data of empirical research, it is found that sustainable growth of enterprises can enhance the creative ability of enterprise value, and the rational development of enterprises is indeed an important motivation to enhance the ability of value creation. This means that paying attention to and adopting the correct growth strategy can increase the value of the enterprise. Due to space constraints, this paper has only carried out some tentative exploration and research. Based on the research results of the small and medium-sized board listed enterprises, some policy suggestions are put forward, which is expected to provide a certain reference for the management of the small and medium-sized board listed enterprises to make strategic decisions.
【學(xué)位授予單位】：新疆財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F832.51

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