我国家电行业上市公司财务风险分析.docVIP

我国家电行业上市公司财务风险分析 摘 要 随着2013年5月31日节能惠民工程的正式结束，消费刺激政策正式告别家电行业。家电行业既经历了刺激政策带来的市场红火，也经历了政策效果消失后市场的清淡。家电调研机构奥维咨询数据显示，2014年黄金周期间，家电市场全线下跌。当前中国家电企业所承受的压力，是市场饱和、产能过剩和价格战。在复杂多变的市场环境和日益加剧的行业竞争背景下，家电行业上市公司时刻面临着各种各样的财务风险。财务风险一旦失去控制，企业财务危机便会凸现。因此，对财务风险的准确分析和及时预测对家电行业上市公司尤为重要。本文将选取家电行业内26家A股上市公司，收集这26家上市公司2011年~2013年年度报告数据，利用Z-Score模型计算它们的Z值，通过对比分析我国家电行业的财务风险情况，得出结论并对我国家电行业上市公司的财务风险控制提出建议。 [关键词]：家电行业；上市公司；财务风险；Z-Score模型 Abstract As the energy-saving and huimin project officially ended on May 31,2013,Stimulus spending has officially said goodbye to the appliance industry. Appliance industry experienced hot market brought by stimulus spending,as well as thin market after the disappearance of policy effect. According to the survey of home appliance research agency All View Consulting，during the golden week of year 2014,the market of home appliance all fell. The pressure on China’s home appliance listed companies is market saturation，excess production capacity and price war. Under the background of the hotly industry competition and domestic economic change，the listed companies in home appliance industry faced all kinds of financial risks all the time. Once the financial risks lose control,the enterprise will occur financial crisis. So,it is important to analysis and forecast financial risks of the listed companies in home appliance industry. 26 companies of home appliance industry in China stock market are selected as an example to illustrate and Z - Score model is used to calculate the Z value, we will come to a conclusion through the contrast analysis of the financial risk of the home appliance industry in China, then offer some suggestions for home appliance industry in China on how to predict and control the financial risks. Key words：appliance industry; listed companies; financial risk, Z-Score model 目 录 一、引言 1 （一）研究背景与意义 1 （二）文献综述 1 （三）研究思路 2 二、 财务风险概述和家电行业发展现状 3 （一）财务风险的主要特征 3 （二）财务风险的基本类型 3 （三）我国家电行业发展现状 4 三、研究内容与研究方法——Z-Score模型 5 （一）Z-Score模型概述 5 （二）Z-Score模型的可行性 7