交通运输行业上市公司绩效评价研究

发布时间：2018-01-11 10:26

本文关键词：交通运输行业上市公司绩效评价研究　出处：《北京交通大学》2017年硕士论文　论文类型：学位论文

【摘要】：近几年随着我国资本市场迅速发展,作为中国经济重点产业的交通运输行业的上市公司规模也呈现飞速的扩大趋势,这为交通运输企业提供了一个良好的融资渠道,不仅提高了交通运输行业企业的竞争能力,同时也使得交通运输产业的发展前景更为开阔。与此同时交通运输行业上市公司的绩效水平也受到了管理者和投资者的关注和重视,由于上市公司的财务绩效不但是衡量公司经营水平和引导上市公司管理方向的重要指标,也是投资方进行投资的重要凭据。因此客观全面,科学合理地评价交通运输行业上市公司的财务绩效就显得尤为重要。为了研究交通运输行业上市公司的财务绩效,本文通过选取交通运输行业62家上市公司作为主要的研究对象,运用SPSS统计软件对2014-2016年年度财务指标数据进行实证分析,首先运用聚类分析和相关性分析进行财务绩效评价指标的初步筛选,之后运用因子分析对我国交通行业上市公司经营绩效进行综合评价并排序,根据实证分析结果,我们能全面有效地评价交通运输行业上市公司的盈利能力,发展能力,偿债能力以及运营能力,进而评价上市公司在行业的中的综合经营水平,本文还对子行业绩效差别进行了分析研究,对改善行业上市公司的绩效状况提出了建议,可以作为产业经济中产业结构合理性分析、产业相关政策制定的重要依据。经过综合分析,交通运输行业子行业绩效存在以下问题:铁路运输行业客运量下降,初始固定成本巨大,导致总资产周转率低下,运营能力不足。航空运输业资本结构财务杠杆过高,过度负债,偿债能力不足。水上运输业由于波罗的海干散货指数萎靡震荡,航运价格的持续低迷,盈利能力持续低下。本文针对交通运输行业子行业存在的问题及其产生的原因提出了相应的解决措施。
[Abstract]:In recent years, with the rapid development of China's capital market, the scale of listed companies in the transportation industry, which is the key industry of China's economy, has also shown a trend of rapid expansion. This provides a good financing channel for transportation enterprises, and not only improves the competitiveness of transport enterprises. At the same time, it also makes the development prospect of transportation industry more open. At the same time, the performance level of listed companies in transport industry has also been concerned and valued by managers and investors. Because the financial performance of listed companies is not only an important index to measure the management level of companies and guide the management direction of listed companies, but also an important evidence for investors to invest, so it is objective and comprehensive. It is very important to evaluate the financial performance of listed companies in transportation industry scientifically and reasonably. In order to study the financial performance of listed companies in transportation industry. In this paper, 62 listed companies in transportation industry are selected as the main research object, and the data of annual financial indicators for 2014-2016 are analyzed empirically by using SPSS software. First of all, we use cluster analysis and correlation analysis to select the financial performance evaluation index, and then use factor analysis to evaluate and rank the performance of listed companies in China's transportation industry. According to the results of empirical analysis, we can comprehensively and effectively evaluate the profitability, development ability, solvency and operational capacity of listed companies in transportation industry. Then evaluate the comprehensive management level of listed companies in the industry, this paper also analyzes the sub-industry performance differences, and puts forward some suggestions to improve the performance of listed companies in the industry. It can be used as the rational analysis of industrial structure in the industrial economy and an important basis for the formulation of industry-related policies. After comprehensive analysis, there are the following problems in the performance of the sub-industries of the transportation industry: the reduction of passenger traffic in the railway transport industry. The initial fixed cost is huge, resulting in the low turnover of total assets, insufficient operational capacity, excessive financial leverage of the capital structure of the air transport industry, excessive debt. Lack of solvency. Shipping prices continued to fall as the Baltic dry index faltered and shipping prices continued to falter. The paper puts forward the corresponding measures to solve the problems existing in the sub-industries of transportation industry and their causes.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F506.7;F512.6;F832.51

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