基于因子分析模型的财务状况分析 - 图文

中小板企业上市公司财务状况评价研究 --基于因子分析模型

摘要

随着我国市场经济的不断发展，以赢利性为目的的企业将会面临更加激烈的竞争，企业在求得生存的前提下，积极把握主动权，力求在如此激烈的竞争环境下处于领先地位。而在企业中一直占据重要地位的财务则越来越显示出其在企业核心竞争力中的独特重要性。对于企业的各个利益相关主体来说，首要任务便是了解企业的财务状况，从而进行较为合理的决策分析。

本文通过对中小企业上市公司的财务指标进行分析，建立了中小企业上市公司财务状况的综合评价指标体系，并根据多元统计的因子分析法构建了我国中小企业上市公司财务状况的因子分析模型。在此基础上对上市公司综合得分进行排名，科学、合理地评价了财务状况。

[关键词] 中小板上市公司 财务状况指标体系 因子分析模型

ABSTRACT

Along with the development of the market economy in our country, For the purpose of profitable, enterprises will face more intense competition. On the premise of survival, enterprises actively seize the initiative and strive to a leading position in such a competitive environment. While the finance which always occupies a chief place more and more shows the unique importance in the enterprise core competence. For all the Stakeholders of the enterprises, the primary task is to understand their own financial situation of enterprises, and thus they can make a more rational decision analysis.

By analysing the financial index of the small and medium-sized enterprises listed company, this article establishes the comprehensive evaluation index system of the financial situation of these companies, and according to multivariate statistical analysis of the factors, this article constructs the factor analysis model of financial situation of small and medium-sized enterprise of listed companies in our country . On this basis, the comprehensive score ranking of the listed company is given, the financial situation is evaluated scientifically and reasonably.

[Key words] Small and medium-sized board listed companies; Financial condition indicator system; Factor Analysis Model

目录

一、绪论 ············································································································· （1）

（一）研究背景 ·························································································· （1） （二）研究目的和意义 ·············································································· （2） （三）国内外研究综述 ·············································································· （3） 1、国外研究状况 ······················································································· （3） 2、国内研究状况 ······················································································· （6） （四）研究方法及本文研究思路 ····························································· （8） 1、研究方法 ······························································································· （8） 2、研究思路 ······························································································· （9） 二、研究设计 ····································································································· （9）

（一）因子分析法的基本原理和步骤 ······················································ （9） （二）中小企业上市公司财务状况指标体系的设置原则 ······················ （11） 三、中小企业上市公司财务状况综合评价 ····················································· （12）

（一）中小企业上市公司财务状况指标体系的设置 ······························ （12） （二）总体评价 ·························································································· （13） 1、样本数据选取和数据来源 ··································································· （13） 2、样本数据标准化处理及显著性检验 ··················································· （13） 3、公因子的提取及命名 ··········································································· （13） 4、上市公司财务状况综合评价 ······························································· （17） 四、结论与展望 ································································································· （18）

（一）改善中小企业财务状况的对策 ····················································· （18） （二）研究的局限性与改进之处 ····························································· （19） 参考文献 ············································································································· （21） 附录 ····················································································································· （22） 致谢 ····················································································································· （27）

中小板企业上市公司财务状况评价研究 --基于因子分析模型

一、 绪论

（一）研究背景

当前中小企业在国民经济发展中有着举足轻重的地位，是经济增长的重要推动力量，而中小板上市公司作为中小企业中成长性、管理水平较高的群体更是影响经济发展的重要因素。

自改革开放以来，随着我国经济体制改革步伐的加快,我国深圳和上海两个证券交易所成立以来，深、沪两个股票市场现已成为我国经济发展的重要融资场所和大众的投资选择对象。上市公司在整个国民经济的发展中的重要性日渐突出。而上市公司特别是中小企业板上市公司的质量，成为社会各界和投资者关注的重点问题。从微观的角度，企业的经营质量，不仅涉及到经营者的利益，而且事关债权人、企业职工等利益相关者的利益；从宏观上考虑，一个国家的企业的整体经营质量，是决定一个国家在国际经济地位中的关键因素。因此财务状况评价问题是任何一个经济体系中的核心问题。

深入对我国企业财务状况评价问题的研究，尽快在我国建立起科学规范的财务状况评价体系，特别是中小企业板上市公司的财务状况评价体系，对于推动企业管理、改革和发展中小企业有十分重要的现实意义。通过对企业进行深入的财务分析，可以更好地了解影响企业当前经营和长远发展的诸多因素，促使企业经营者更加注重对投入产出的对比分析，充分利用企业现有资源实现企业效益最大化。

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