上市公司财务竞争力综合评价的研究__以山东省国有控股上市公司为例.doc

摘  要  本文所研究的财务竞争力是当前财务管理理论研究的新方向，是借鉴企业核心竞 争力理论，基于管理经济学视角的财务创新。国内外对财务竞争力的研究还处于起步 阶段，理论研究的成果远远落后于实践的发展。本文研究是从财务的视角对竞争力进 行的新的探索，有重要的理论意义。 鉴于国有企业在国民经济中占有重要地位，如何深化国有企业改革，全面提升财 务竞争力，成为当前的现实问题。因此，以我省国有控股上市公司为例，对财务竞争 力评价对于我国国有企业的发展以及整个国民经济的发展具有重大的现实意义。 本文以企业资源理论、企业能力理论、竞争战略理论和财务战略理论为依托，采 用规范研究与实证研究相结合的方法，首先介绍了国内外关于财务竞争力的研究现 状，阐述了财务竞争力的概念、特征和形成机制；然后，构建了一套上市公司财务竞 争力的评价指标体系，并以山东省国有控股上市公司为例，运用因子分析的方法，对 其财务竞争力进行评价。分析表明，我省国有控股上市公司的财务竞争力一般，偿债 能力和盈利质量能力较强，但是成长能力和盈利能力较弱，有待于进一步提高。因此， 本文最后论述了提升我国上市公司财务竞争力的路径选择，对我国上市公司的高效、 可持续发展有较强的指导意义。  关键词：上市公司  财务竞争力  评价体系  因子分析  i Abstract The financial competitiveness the essay studies represent a new direction of financial theory, financial competitiveness referenced to the core competitiveness, is financial innovation of management economics. It is of theoretical significant that the essay explores the topic of competitiveness in financial angle. In view of state-owned enterprises play an important role in the national economy, how to deepen the reform of state-owned enterprises and raise financial competitiveness, become the current practical problems. Therefore take state-owned listed companies of our province as an example, is of great practical significance to the development of the entire national economy. This paper relies on enterprise resource theory, entrepreneurial capacity theory, competitive strategy theory, financial strategy theory, using combined methods of standardized research and empirical research, Firstly introduced the status of financial competitiveness at home and abroad, respectively explained the concept and features and formation mechanism of financial competitiveness; Secondly build a set of evaluation index system, takes state-owned listed companies of Shandong Province as a case, using factor analysis method, evaluated the listed companys financial competitiveness. Analysis showed that the financial competitiveness of state-owned listed companies is in general, solvency and quality of earnings capacity are g