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论文编号：	9632
作者编号：	2120152849
上传时间：	2017/12/8 0:02:20
中文题目：	完善T集团所属子公司财务绩效评价体系研究—基于股东视角
英文题目：	Research on improving the financial performance evaluation system of T subsidiaries--Based on shareholder Perspective
指导老师：	王全喜
中文关键字：	企业集团；财务绩效评价；沃尔评价法；中医药行业；子公司
英文关键字：	Enterprise groups；financial performance evaluation； Walter wight method；Chinese medicine industry； subsidiary company
中文摘要：	随着生产力的进一步发展，大型企业集团成为更加普遍的公司组织形式，多元化发展逐渐成为一种趋势，上市公司涉及不相关的业务领域并不稀奇，以资本为纽带的企业集团，母公司管理多个不同的业务板块，如何对不同的行业进行业绩评价，已经成为理论界和实务界的热点问题。建立科学、合理的业绩评价体系对于大型企业集团的重要性不言而喻，对于提升企业经营管理水平，改善公司治理，提升企业的综合竞争力同样具有重大意义。 绩效评价体系中财务评价又是最为重要的一环，所以本文绩效评价研究集中在财务绩效评价。在对过往的文献进行回顾发现，过去对财务绩效评价的研究集中在以管理层的视角出发，考虑财务绩效评价对提升企业管理效率和效果的影响上，本文从股东的立场出发，考虑子公司的财务绩效对股东的投资回报，建立在股东财富最大化的立场上，重点关注股东的利益需求。 T集团以现代中医药为核心，致力于发展大健康产业，业务板块涉及保健品、酒和饮料、中药材、医疗康复和健康管理等。这对集团建立对各业务板块更为公平且合理的财务绩效评价体系提出了新的要求。本文通过对主要财务指标如盈利能力、偿债能力、营运能力、成长能力的筛选和计算，采用修正的沃尔分析法建立财务绩效评价体系，对T集团各板块公司参照行业标准进行更为专业的财务绩效评价，同时也希望能为其他企业集团的财务绩效评价提供有益经验。 本文共六章，第一章是绪论，主要介绍选题背景和研究意义，研究思路、文献综述、方法和创新之处；第二章搭建本文的理论基础，阐述了企业集团的概念以及经典的委托代理理论、利益相关者理论等，并梳理了当下流行的绩效评价方法，落脚点在沃尔比重分析法上；第三章是对T集团的公司简介，阐述了“一核两翼”的发展理念，并对其现行的财务绩效评价体系做了深度解读，剖析存在的问题，并提出完善绩效评价体系的方案，为集团各所属子公司的绩效评价定好基调；第四章是对沃尔分析法的具体运用进行说明，并对影响公司发展的重要指标如盈利能力、偿债能力、营运能力、成长能力进行筛选；第五章则是具体到各业务板块财务绩效的计算和分析；第六章总结，指出对T集团及其他企业集团可供借鉴的有益经验。
英文摘要：	With the further development of productivity, large enterprise groups become more common form of company organization, diversified development has gradually become a trend, the listed companies involved in unrelated business really is usual, as a link to the capital of the enterprise group, the parent company manage different business sectors, how to evaluate the performance of different business, has become hot topic in the theory and practice. Establish a scientific and reasonable performance evaluation system is importance to the large enterprise groups, for improving the management level of enterprises, improve the corporate governance, it has great significance meaning to enhance the competitiveness of enterprises. In the performance evaluation system, the financial evaluation is the most important part. The scope of the performance evaluation is the financial performance evaluation. Reviewthepast literature found that the past studies on performance evaluation mainly focus on the perspective of management from, considering the impact on improving management efficiency and effect,but this paper from the standpoint of shareholders, consider the subsidiary financial performance of investment returns to shareholders, based on shareholder wealth maximization, focus on the interests of the shareholders. T group, thecoreismodern Chinese medicine, is committed to the development of the large health industry, which deals with health care products, wine and beverages, medical rehabilitation and health management, This has put forward new requirements for the establishment of a more fair and reasonable financial performance evaluation system for each business sector. Through screening and calculation of the main financial indicators such as profitability, solvency, operation ability, growth ability, using the modified wall analysis to establish the financial performance evaluation system of T group's business more professional financial performance evaluation, but also hope to provide useful experience of financial performance evaluation for other enterprise groups. This paper consists of six chapters. The first chapter is the introduction which mainly introduces the research background, research significance, literature review, research approach and innovations. The second chapter builds the theoretical foundation of this article which elaborates the enterprise group concept, the classic principal-agent theory and stakeholder theory, compares the current popular performance evaluation methods, and finally chooses the Walter wight method. The third chapter gives a brief introduction to T Group, elaborating the development of "one nuclear two wings" concept. It then analyzes the current financial performance evaluation system, raises the existing problems and proposes a plan for perfecting the performance evaluation system. The fourth chapter gives a detailed description of Walter wight method and select important indicators such as profitability, solvency, operational capacity, growth ability. The fifth chapter is the calculation and analysis of the financial performance of each business segment. The sixth Chapter is the summary and provides useful experience for T Group and other enterprise groups.
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