政府补助对钢铁行业上市公司财务状况的影响研究(硕士)(论文28000字)
摘要
随着经济的发展和竞争的加剧，政府出于国家宏观调控和保护基础型行业发展的目的，通过多种形式对相关企业进行补助也成为一种普遍现象。上市公司代表着一个行业的较高水平，在所处行业的发展中有举足轻重的地位, 往往也是政府补助的主要受益者。目前，各级政府逐渐增加对于上市公司的补助金额，补助的范围也在持续增大，这种金额巨大的政府补助在一定程度上影响了上市公司，也受到了越来越多的关注。然而依照近年来上市公司实际取得的补助情况来看，政府补助在发挥其原有功能的基础上开始逐步演变成一种对上市公司普遍输送利益和防止地方上市公司连续亏损而退市的有效工具，一些财务困难的上市公司在接受巨额的政府补助后效益颇高甚至扭亏为盈，甚至对这种补助形成依赖。同时，目前存在一种较为奇怪的现象，作为基础型行业的钢铁行业近年来整体处于低迷状态，但是上市公司的年报却以喜报居多。
针对此类现象，本文拟从企业特征出发，选择钢铁行业上市公司，从其财务状况的角度入手，重点关注政府补助的影响研究。本文在写作时同时选用了规范性和实证研究形式，首先对政府补助的理论背景进行说明介绍，阐述了上市公司财务状况的相关概念和各项分析指标。在对钢铁行业基本情况和问题介绍的前提下，结合上市公司的具体情况，选取上市公司2011年-2013年的相关数据，从偿债能力，营运能力，盈利能力和发展能力等四个角度出发，对应选取流动比率，净资产收益率，流动资产周转率和总资产增长率等指标为变量，设计实证研究假设，建立相应的回归模型。通过对回归结果的计量和分析，进一步研究政府补助对钢铁行业上市公司财务状况的影响。通过本文研究发现，目前政府补助对钢铁行业上市公司的财务状况是有一定的影响，但并不显著，相比较而言，对营运能力方面的作用相对较大。结合政府补助的动机来看，目前我国对钢铁行业的补助效果不明显，并未实现预计效率。从研究结果出发，本文也对政府提出相关建议，同时针对钢铁行业的实际情况对上市公司提出相关的发展建议。
关键词：政府补助，钢铁行业，财务状况
ABSTRACT
With the development of economy and the intensification of competition, it is a common phenomenon that the government subsidies related enterprises through a variety of ways in order to protect the basic industry development and implement state macro-control. Listed companies represent the higher level of an industry and weigh important place in economic development. Government subsidy to listed company is increasing year by year and the scope expands unceasingly. Suffering from attention government subsidy has certain influence on the listed company. However, according to government subsidy for listed company in recent years, government subsidy evolves into an effective tool to convey interest and prevent listed company delist for continuous loss. Some listed companies in financial distress have higher efficiency, make a profit instead of suffering a loss and form reliance on government subsidy. The steel industry has been in the doldrums in recent years, but annual reports of some listed companies look good.
According to this kind of phenomenon, this paper embarks from the enterprise characteristics, selects the steel industry listed company of the steel industry, and studies the effect of government subsidy from the perspective of financial condition. This paper mainly takes the form of combining normative research and empirical research. First, this paper introduces the theory of government subsidy, expounds the related concepts and analysis indicators of listed company’s financial status. Under the condition of the steel industry listed companies, this paper selects the financial data of the steel industry listed companies from 2011 to 2013, selects liquidity ratio, return on net assets, current assets turnover and total asset growth as variables from the debt paying ability, profit ability, operation ability and development ability, designs empirical research hypothesis and establishes the regression model. Through the measurement and analysis of the regression results, this paper makes a further research on effect of government subsidy on the listed company's financial status of the steel industry. The result is that the effect of government subsidy for the steel industry listed company's financial situation is certain, but not Significant. In comparison, government subsidy has a relatively large effect on operation ability for the steel industry listed company. Combined with the motivation of government subsidies, the effect of government subsidies for the steel industry listed company is not obvious, and is far away from the expected efficiency. With the results, this paper also puts forward suggestions for the government and listed company according to the actual situation of the steel industry to realize the effect of government subsidies better.
Keywords: Government Subsidies，Steel Industry ，Financial Situation
目录
第1章 引言 1
1.1 研究背景和意义 1
1.1.1 研究背景 1
1.1.2 研究目的和意义 2
1.2 国内外文献综述 2
1.2.1 国外文献综述 2
1.2.2 国内文献综述 4
1.2.3 国内关于钢铁行业的研究 5
1.3 研究内容和方法 6
1.4 研究创新与特色 7
1.5 论文的基本结构 7
第2章 政府补助理论背景和财务状况理论分析 9
2.1 政府补助理论背景 9
2.1.1 政府补助概念，类别和会计处理 9
2.1.2 政府补助准则发展 10
2.1.3 政府补助动因分析 11
2.1.4 我国政府补助现状 13
2.2 财务状况相关理论概述 14
2.2.1 财务状况的概念 14
2.2.2 财务状况分析方法和原则 14
2.3 财务分析主要分析指标概述 15
2.3.1 企业偿债能力分析 15
2.3.2 企业盈利能力分析 17
2.3.3 企业营运能力分析 17
2.3.4 企业发展能力分析 18
第3章 钢铁行业上市公司财务现状分析 19
3.1 钢铁行业的发展 19
3.2钢铁行业上市公司财务状况评价 20
3.3 钢铁行业上市公司政府补助的现状 20
第4章 实证设计 23
4.1 研究假设 23
4.2 样本选取和变量设定 23
4.2.1 样本选取 23
4.2.2 变量设计 23
4.3 模型建立 24
第5章 实证分析 26
5.1 描述性统计 26
5.2相关性分析 26
5.3 回归结果分析 27
第6章 结论和建议和展望 29
6.1 结论 29
6.2 建议 30
6.2.1对政府补助政策建议 30
6.2.2 对企业建议 32
6.2.3 对社会监督的建议 33
6.3 展望 34
附 录 35
附录1.钢铁行业上市公司政府补助原始数据表 35
附录2 变量计算统计表 37
参考文献 43 |
