售电类上市公司盈利能力及影响因素研究
发布时间：2018-08-27 08:41
【摘要】：随着中共中央、国务院中发[2015]9号文件和关于输配电价体制、电力交易机制等相关配套文件的推出,新电力改革成为电力行业的热门话题。新电力改革放开配售电市场,售电公司和新增配电业务允许民间资本进入成为焦点。在这种背景下,电市场异军突起,成为投资热门方向。作为新的细分行业,新成立的售电公司和售电市场潜在进入者迫切需要了解售电类公司的盈利能力的相关信息,如现阶段售电类公司的盈利水平如何,哪些指标会显著影响售电类公司的盈利能力水平等。本文以此为契机,首先,在研究国内外文献的基础上,结合盈利能力评价和盈利能力影响因素的相关理论,阐明了论文研究的必要性和改进之处。其次,采用定性分析和定量分析相结合的方法对比分析了现阶段售电类上市公司的经营模式、盈利规模、盈利趋势等信息。然后,论文用因子分析法和灰色关联分析法分别建立盈利能力评价模型,选取10家售电类上市公司为研究对象进行盈利能力排序,并进行评价结果对比分析,增强评价结果的有效性,再对排序结果进行实践分析。最后,论文将盈利能力指标与影响因素指标分经营模式进行回归分析,找到不同经营模式下影响盈利能力的关键指标,并针对关键指标结合实际情况提供了提升售电类上市公司盈利能力的建议。本文的研究旨在建立有效的盈利能力评价体系,对售电类上市公司盈利能力进行评价,使其明确自身盈利能力水平与行业地位;找到不同经营模式售电类上市公司盈利能力的关键影响因素,为售电类上市公司提升盈利能力指明改进方向。论文的创新点体现在两个方面:第一,论文提出了考虑盈利风险、盈利成本、盈利增长的综合盈利能力指标,建立了有效的盈利能力评价体系。第二,论文分经营模式对售电类上市公司盈利能力的影响因素进行研究,得出的关键影响因素更有针对性。
[Abstract]:With the introduction of document No. 9 of the CPC Central Committee, Zhongfa [2015] of the State Council and related supporting documents on transmission and distribution price system, electricity trading mechanism, the new power reform has become a hot topic in the electric power industry. The new power reform liberalizes the distribution market, with companies and new distribution businesses allowing private capital to enter the spotlight. Under this kind of background, the electricity market rises suddenly, becomes the investment hot direction. As a new segment of the industry, the newly established power sales companies and potential entrants to the electricity market urgently need to know the relevant information about the profitability of the electricity sales companies, such as the current level of profitability of the electricity sales companies. Which indicators will significantly affect the profitability of electricity sales companies and so on. This paper takes this as an opportunity, first of all, on the basis of studying the domestic and foreign literature, combining with the relevant theories of profit ability evaluation and profit ability influence factors, expounds the necessity and improvement of the paper research. Secondly, the qualitative analysis and quantitative analysis are used to compare and analyze the business model, profit scale and profit trend of the listed companies selling electricity at this stage. Then, the paper uses factor analysis method and grey relational analysis method to establish profit ability evaluation model, select 10 listed power companies as the research object, and compare the evaluation results. Enhance the effectiveness of the evaluation results, and then the ranking results of practical analysis. Finally, the paper makes regression analysis between profitability index and influencing factor index, and finds out the key index of influencing profitability under different business model. According to the key indicators combined with the actual situation, the paper provides suggestions to improve the profitability of listed companies selling electricity. The purpose of this paper is to establish an effective evaluation system of profitability, to evaluate the profitability of listed companies, and to make clear the level of profitability and the position of the industry. Find out the key factors that affect the profitability of the listed companies with different business models, and point out the direction of improvement for the listed companies. The innovation of the paper is reflected in two aspects: first, the paper puts forward a comprehensive profitability index considering profit risk, profit cost and profit growth, and establishes an effective profitability evaluation system. Secondly, the paper studies the factors that influence the profitability of listed companies.
【学位授予单位】：华北电力大学(北京)
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.61;F406.7
本文编号：2206713
[Abstract]:With the introduction of document No. 9 of the CPC Central Committee, Zhongfa [2015] of the State Council and related supporting documents on transmission and distribution price system, electricity trading mechanism, the new power reform has become a hot topic in the electric power industry. The new power reform liberalizes the distribution market, with companies and new distribution businesses allowing private capital to enter the spotlight. Under this kind of background, the electricity market rises suddenly, becomes the investment hot direction. As a new segment of the industry, the newly established power sales companies and potential entrants to the electricity market urgently need to know the relevant information about the profitability of the electricity sales companies, such as the current level of profitability of the electricity sales companies. Which indicators will significantly affect the profitability of electricity sales companies and so on. This paper takes this as an opportunity, first of all, on the basis of studying the domestic and foreign literature, combining with the relevant theories of profit ability evaluation and profit ability influence factors, expounds the necessity and improvement of the paper research. Secondly, the qualitative analysis and quantitative analysis are used to compare and analyze the business model, profit scale and profit trend of the listed companies selling electricity at this stage. Then, the paper uses factor analysis method and grey relational analysis method to establish profit ability evaluation model, select 10 listed power companies as the research object, and compare the evaluation results. Enhance the effectiveness of the evaluation results, and then the ranking results of practical analysis. Finally, the paper makes regression analysis between profitability index and influencing factor index, and finds out the key index of influencing profitability under different business model. According to the key indicators combined with the actual situation, the paper provides suggestions to improve the profitability of listed companies selling electricity. The purpose of this paper is to establish an effective evaluation system of profitability, to evaluate the profitability of listed companies, and to make clear the level of profitability and the position of the industry. Find out the key factors that affect the profitability of the listed companies with different business models, and point out the direction of improvement for the listed companies. The innovation of the paper is reflected in two aspects: first, the paper puts forward a comprehensive profitability index considering profit risk, profit cost and profit growth, and establishes an effective profitability evaluation system. Secondly, the paper studies the factors that influence the profitability of listed companies.
【学位授予单位】：华北电力大学(北京)
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.61;F406.7
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