本文選題：節(jié)能環(huán)保企業(yè)價值 + 托賓Q值　； 參考：《首都經(jīng)濟(jì)貿(mào)易大學(xué)》2015年碩士論文

【摘要】：我國節(jié)能環(huán)保企業(yè)的發(fā)展越來越受國家的重視,每年在節(jié)能環(huán)保市場的總投資力度不斷加大。從“十二五”開始,政府部門對環(huán)保重視程度有顯著的提升,最直接的表現(xiàn)就是政府對節(jié)能環(huán)保行業(yè)投資額的增加,環(huán)保投資占GDP比重顯著上升。在節(jié)能環(huán)保企業(yè)不斷發(fā)展的過程中,無論是從國家投入資金方面,還是從節(jié)能環(huán)保企業(yè)自身發(fā)展方面,我們都應(yīng)該重視對節(jié)能環(huán)保企業(yè)價值評估。因為只有進(jìn)行價值管理,正確評估自身的市場價值并持續(xù)提升企業(yè)價值,節(jié)能環(huán)保企業(yè)才能增強(qiáng)企業(yè)的實力和市場競爭力,促進(jìn)自身的健康、穩(wěn)定的發(fā)展。目前,我國節(jié)能環(huán)保企業(yè)價值研究大部分是基于定性分析,從我國節(jié)能環(huán)保企業(yè)的發(fā)展?fàn)顩r及特點來看,定性的分析方法并不能準(zhǔn)確了解現(xiàn)階段節(jié)能環(huán)保企業(yè)真正的價值。本文在國內(nèi)外相關(guān)文獻(xiàn)的研究基礎(chǔ)上,首先對我國節(jié)能環(huán)保行業(yè)上市公司的特點、發(fā)展現(xiàn)狀和外部影響因素進(jìn)行了分析;然后以63家節(jié)能環(huán)保上市公司2011-2013年的三年平均數(shù)作為分析數(shù)據(jù),選取24個指標(biāo)作為影響因素,對指標(biāo)數(shù)據(jù)進(jìn)行初步統(tǒng)計觀察,采用因子分析法提取出代表節(jié)能環(huán)保上市公司價值的7個公因子;最后是建立節(jié)能環(huán)保上市公司的價值與影響因素公因子的回歸模型,本文選取托賓Q值代表企業(yè)價值,將托賓Q與7個公因子建立線性回歸方程。通過實證研究得出的結(jié)論是:企業(yè)規(guī)模、成長能力和技術(shù)創(chuàng)新能力與節(jié)能環(huán)保企業(yè)價值相關(guān),其中,企業(yè)規(guī)模對企業(yè)的價值呈負(fù)相關(guān),并且影響最大,企業(yè)的成長能力和企業(yè)的技術(shù)創(chuàng)新能力與節(jié)能環(huán)保企業(yè)呈正相關(guān),企業(yè)的技術(shù)創(chuàng)新能力對企業(yè)價值的影響最小。
[Abstract]:The development of energy saving and environmental protection enterprises in our country is paid more and more attention by the state, and the total investment in the energy saving and environmental protection market is increasing every year. Since the 12th Five-Year Plan, government departments have significantly increased the importance of environmental protection, the most direct performance is the increase of government investment in energy conservation and environmental protection industry, the proportion of environmental protection investment in GDP has increased significantly. In the process of the continuous development of energy-saving and environmental protection enterprises, we should attach importance to the evaluation of the value of energy-saving and environmental protection enterprises, not only from the aspects of national investment funds, but also from the development of energy-saving and environmental protection enterprises themselves. Only by carrying out value management, correctly evaluating its own market value and continuously promoting its enterprise value, can energy-saving and environmental protection enterprises enhance their strength and market competitiveness, and promote their own healthy and stable development. At present, most of the research on the value of energy-saving and environmental protection enterprises in China is based on qualitative analysis. Judging from the development and characteristics of energy-saving and environmental protection enterprises in China, the qualitative analysis method can not accurately understand the real value of energy-saving and environmental protection enterprises at the present stage. Based on the research of domestic and foreign literature, this paper firstly analyzes the characteristics, development status and external factors of listed companies in energy conservation and environmental protection industry in China. Then the three-year average of 63 energy saving and environmental protection listed companies from 2011 to 2013 is taken as the analysis data, and 24 indexes are selected as the influencing factors, and the index data are preliminarily statistically observed. Using factor analysis method to extract 7 common factors representing the value of energy saving and environmental protection listed companies. Finally, the regression model of the value of energy saving and environmental protection listed companies and the common factors of influencing factors are established. In this paper, Tobin Q value is selected to represent the enterprise value. The linear regression equation of Tobin Q and seven common factors is established. The conclusion of the empirical study is that the enterprise scale, growth ability and technological innovation ability are related to the value of energy-saving and environmental protection enterprises, among which, the enterprise scale has negative correlation with the enterprise value, and has the greatest impact on the enterprise value. The growth ability of the enterprise and the technological innovation ability of the enterprise are positively correlated with the energy-saving and environmental protection enterprises, and the technological innovation ability of the enterprise has the least influence on the enterprise value.
【學(xué)位授予單位】：首都經(jīng)濟(jì)貿(mào)易大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：X324;F275;F832.51

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