传媒行业上市公司财务质量评价聚类分析.docxVIP

近年来，随着文化产业兴起和政府扶持增强，传媒发展进入崭新的阶段，业内公司纷纷上市。尽管政策大环境显示利好，但若将关注点置于行业本身发展和各公司财务中，则会发现除了行政问题，多元化战略也存有利弊。本文即立足于此，以《国证上市公司行业分类标准》中C0405传媒业上市公司为准，建立财务质量评价体系，对其在2012-2015年的数据标准化处理，通过聚类辅以因子分析把具有相似特征的公司归类，再对传媒行业内部各财务质量趋势和所处水平进行评价。 根据四年间财务表现，总体持续增长型占比26%,财务每况愈下的公司在30个样本中仅有1家，波动上升型和下降型公司各占行业上市数量的三分之一。大部分虽有较好的利润增长率影响成长质量，但其自身的经营管理存在不足，对于投入资本的风险掌控仍需重视。分析过程为了解传媒行业内部公司相对财务质量提供了实用可靠的数据，同时有利于投资者、管理层和债权人判断并作出反应。 关键词：传媒行业；财务质量；评价指标；聚类分析 Abstract In recent years, with the rise of the cultural industry and government support toenhance the development of the media industry into a new stage.Despite the favorablepolicy environment display, when concentrating on the development of the mediaindustry itself and each of the companys financial situation, you will find itundervalued. In addition to administrative issues, diversification strategy also has itspros and cons. Based on that, to evaluate the financial quality of media industry, thethesis takes listed media companies into consideration according to IndustryClassification Standard. By calculating and standardizing data from Annual Reports in2012-2015 years, using clustering analysis and factor method to classify companieswith similar characteristics, the thesis establishes a evaluation index system of thefinancial quality. According to the financial performance in four years, sustainable growthcompanies accounted 26% in Chinas listed media industry. Only one companysfinancial quality is deteriorating in 30 samples. Besides, there is respectively one-thirdof the number of listed companies rising or falling with fluctuations. There are manyhas well-growth forecast, but shortcomings in profitability and management also meanthe risky of capital investment.The procedure is benefit for understanding the financialsituation of the media industry as a whole. It provides many practical and reliable data,and also conducive to the investors, creditors and managers to make judgments orresponses. Key words: media industry; fin