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论文编号：	2385
作者编号：	2120082139
上传时间：	2010/6/9 15:46:48
中文题目：	我国循环经济政策对企业财务绩效影响研究
英文题目：	The study on the Financial Performance of Circular Economy Policy
指导老师：	李莉
中文关键字：	循环经济;财务绩效;单指标评价;综合指标评价
英文关键字：	Circular Economy, Financial Performance, Single Indicator Evaluation, Integrated indicators Evaluation,
中文摘要：	循环经济是物质闭路循环的简称，是人类在追求可持续发展过程中的一种理性选择，将清洁生产和废弃物综合利用化为一体，用生态学规律指导人类社会的经济活动，力求从根本上消除经济与社会发展对经济压力与对环境的破坏。近年来，世界范围内的资源枯竭、环境保护等生态问题突出，我国经济快速发展的同时，资源环境问题更是令人堪忧。循环经济成为可持续发展的最佳选择。 2005年，我国在钢铁、有色、化工等七大行业部分企业启动循环经济试点工作；2006年，发展循环经济被纳入“十一五”规划。有关循环经济政策及循环经济发展模式等的探讨，一直是学界和业界讨论的热点和难点。国内关于循环经济的研究，集中于政策体系建立和模式探索，有关循环经济政策对企业财务绩效的影响关注不足。因此，本文以循环经济政策对我国上市公司中的循环经济概念板块企业财务绩效的影响为基本研究内容，分别从理论和实证的角度，对以下问题进行了探索： 首先，概括我国循环经济政策现状及相关企业特征，通过分析政策促进循环经济企业发展的主要措施，将相关政策对企业财务绩效的影响划分为积极效应和消极效应，理论上分析我国循环经济政策对相关企业财务绩效的影响路径。 其次，本文在研究假设的提出过程中，综合考虑了循环经济特性和传统财务管理的目标。循环经济企业贯彻执行循环经济理念，承担社会责任过程中将部分外部成本内部化，一定程度上影响了传统财务管理目标——股东价值最大化。本文运用单指标评价法和综合指标评价法，以循环经济概念板块企业为样本，对其2004年-2008年的财务绩效进行量化分析，结论认为我国循环经济政策实施，外部成本内部化的影响大于财税补贴优惠的影响，整体上消极效应大于积极效应。 最后，基于本文的实证结果，对我国循环经济政策体系的完善和企业加强贯彻实施循环经济理念，进一步提高企业财务绩效提出了个人建议。并对本文创新点和不足之处进行了总结，对进一步研究进行了展望。
英文摘要：	Circular Economy is the abbreviation of closing materials cycle, and a rational choice of human beings in the pursuit of sustainable development. The circular economy makes the clean production and comprehensive utilization of waste into one part, meanwhile, the human society economic activity strive to eliminate fundamentally the economic and social development of economic pressure and damage to the environment, with the guidance of ecological law. In recent years, the problem of the resource exhaustion and ecological environment protection has become increasingly. At the same time, the rapid development of china’s economic makes the problems more significant. Circular economy becomes the beset choice of sustainable development. In 2005, part enterprise in seven industries such as steel, nonferrous, chemicals and so on, takes the circular economy into pilot. In 2006, the development of recycling the development of circular economy was included in the "11th five-year" plan. The study on the policy and development mode has been a hot area and difficult problem. However, the study of circular economy focus on the problem how to establish the political system and mode should be, the financial performance is limited in China. Therefore, this dissertation took Therefore, based on circular economic policy of China's listed firms in the concept of circular economy influence of enterprise financial performance plate for basic research contents, separately from the theoretical and empirical perspective, probes into the following questions: First, this paper summarized the status of policy for circular economy and the characteristics of related companies, analyzed primary means for policies to promote the development of circular economical enterprises, divided the impact of relevant policies on the financial performance of companies into positive effect and negative effect theoretically, and analyzed the influence of circular economy policies on corporate financial performance theoretically. Secondly, this paper took comprehensive consideration of the circular economy and the traditional financial management objectives when proposing the hypothesis of this paper. When the circular economy companies implement the philosophy of circular economy, they should consider both social responsibility and shareholder value. Taking social responsibility means internalizing part of the external costs and to some extent affects the shareholder value. The empirical study of this paper used single indicator analysis and the overall target analysis, took the listed firms in the concept of circular economy as a sample, gave quantitative analysis of their financial performance in 2004 -2008, and concluded that the implement of China's circular economy policies internalized the external costs and had a negative impact on the financial performance of enterprises. Finally, based on the empirical results, this paper put forward individual recommendations on how to improve the policy system of circular economy, how to strengthen the concept of circular economy for enterprises, and how to further improve the financial performance of the companies.
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