财务管理专业毕业论文--中小板上市公司不同生命周期自由现金流量分析.docVIP

摘 要 中小企业板是构筑多层次资本市场的重要举措，现阶段并没有满足市场的若干预期，但在未来的制度创新中显示出蓬勃的生命力。 Abstract SME board is to build multi-level capital market, an important measure, although this stage does not meet a number of market expectations, but the system of innovation in the future will show the vigorous vitality.? This paper studies for small and medium plates, clear its origin, advantages and characteristics.?Secondly, to study the life cycle of enterprises, by enterprise life cycle of the significance, methods and research status and trends.?Once again conducted a study on the free cash flow to analyze the advantages of free cash flow, calculation methods and application problems.?Then select the small board listed several companies in the appliance industry as a sample, according to a certain mode of corporate life cycle, the calculation of free cash flow business, according to the results concluded.?Finally, according to the different life cycle stages of corporate free cash flow characteristics of the development of enterprise development strategies, provide recommendations for enterprise management, the enterprise has a very important practical significance.?Specific conclusions are: on the rise of the enterprise, free cash flow is negative; at the peak of the business, free cash flow is positive, should seize the opportunity, seize the opportunity to take leadership strategy, carry out independent innovation; in a stable of business, free cash flow is positive; at a low ebb of the enterprise, free cash flow is positive, the importance of timely transfer market, for technical upgrading. Key Words：Small board?of listed companies ;ree cash flow ; Life cycle 目 录 一、引言 1 二、中小板研究 2 三、企业生命周期研究 2 （一）划分企业生命周期的意义 2 （二）理论界对企业生命周期的研究及其划分方法的探讨 3 （三）企业生命周期理论研究的不足和今后研究趋势 4 四、自由现金流量研究 5 （一）自由现金流量作为财务指标的优势分析及作用 5 （二）理论界对自由现金流量的研究及其计算方法的探讨 7 （三）自由现金流量理论应用的困难 9 五、中小板公司基于生命周期的自由现金流量研究过程 9 （一）中小板公司样本的确定 9 （二）中小板公司样本企业生命周期的确定 10 1、本文选取的划分企业生命周期的标准 10 2、样本企业生命周期的划分 10 （三）中小板公司样本企业自由现金流量的计算 11 1、本文选取的计算自由现金流量的方