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1.
我国钢铁行业上市公司竞争力实证研究   总被引:7,自引:0,他引:7  
钢铁行业是我国的传统行业,在国民经济中具有举足轻重的地位。本文采用主成分分析法,分别从盈利能力、偿债能力、运营能力以及成长能力等方面对我国34家钢铁类上市公司的10项财务指标进行了竞争力综合评价;通过对各个上市公司的分类比较,发现了我国钢铁行业存在的一些问题;最后指出产业整合是提高我国钢铁行业整体竞争力的必要途径。  相似文献   

2.
以希金斯的财务可持续增长模型为理论基础,分析青岛啤酒2004-2013年的增长状况,研究发现:青啤的实际增长速度基本与可持续增长速度保持一致,其增长效率是销售净利率、总资产周转率、权益乘数与留存收益等驱动因素共同作用的结果.研究表明:青啤管理增长中还需要通过不断加强成本控制,增强盈利能力;强化营运资本的投融资管理,提高营运绩效;优化资本结构,控制财务风险;优化股利政策,增强后续融资能力等措施来保障企业的可持续增长.  相似文献   

3.
黄学庭 《运筹与管理》2007,16(3):151-154
本文首先根据收益增长率等于再投资额与再投资收益率的乘积这一基本结论,对超常增长而后无增长的威斯通模型作了一点修正;接着分析了该模型中隐含的企业总投资资本利润率;最后根据微观经济学理论探讨了企业在无增长阶段可能面临的不同竞争状况对其未来盈利能力和现金流的影响,建立了更具普遍性的估价模型.  相似文献   

4.
能源约束下的经济增长模型   总被引:2,自引:0,他引:2  
建立能源利用动态变化方程,在经济增长模型中引入能源约束,讨论如何在保证能源可持续利用的条件下,实现经济的可持续增长及社会的可持续发展.得出结论为:现代经济增长的源动力是技术进步.只有提高生产技术水平,降低能耗.提高能源利用效率,才有可能在保证能源可持续利用的条件下,实现经济的长期可持续增长.  相似文献   

5.
以114家我国软件与信息技术服务业上市公司2010-2015年的数据为样本,利用产业经济学增长率分类法对样本公司所处生命周期进行划分,实证研究了软件与信息技术服务业上市公司在生命周期不同阶段研发投入强度差异性以及影响因素.研究结果表明,样本公司的研发投入强度在生命周期的成长-成熟-衰退阶段呈现“倒U型”的状态.企业生命周期不同阶段企业规模、资本结构、盈利能力对研发投入强度有不同程度的影响.  相似文献   

6.
以114家我国软件与信息技术服务业上市公司2010-2015年的数据为样本,利用产业经济学增长率分类法对样本公司所处生命周期进行划分,实证研究了软件与信息技术服务业上市公司在生命周期不同阶段研发投入强度差异性以及影响因素.研究结果表明,样本公司的研发投入强度在生命周期的成长-成熟-衰退阶段呈现"倒U型"的状态.企业生命周期不同阶段企业规模、资本结构、盈利能力对研发投入强度有不同程度的影响.  相似文献   

7.
针对企业在发展过程中盲目追求增长,忽视财务风险的问题,以财务可持续增长理论为基础,对*ST北大荒的增长管理进行剖析,分析发现:*ST北大荒实际增长速度远超过可持续增长速度,公司财务危机的爆发与其超速增长有必然联系.公司要实现可持续增长,应加强企业内部控制、提升企业财务战略规划能力、构建企业财务预警体系和优化企业杠杆配置.  相似文献   

8.
张铭 《珠算》2012,(7):48-49
“中国资本市场早已过了‘短缺之下无质量’的时代。上市公司只有提高自身的质量、提高盈利能力和股票增值水平,才能吸引投资者、留住投资者。”中国证监会前主席周道炯5月26日表示。  相似文献   

9.
为了对旅游上市公司进行更加合理的评价和突出现金流的重要性,在财务指标体系的基础上构建了一个包含偿债能力、营运能力、盈利能力、发展能力和现金流五个方面的旅游上市公司经营绩效评价体系.以沪深上市的20家旅游上市公司2008-2015年的数据为研究样本,用因子分析法对旅游上市公司的经营绩效进行评价和排名.研究发现旅游上市公司经营绩效存在较大的提升空间,建议旅游上市公司从产业链整合、业务多元化、新增投资等三个途径来提高企业的经营绩效.  相似文献   

10.
《数理统计与管理》2014,(4):673-681
抽取40个机械制造业上市公司为样本,用纵向数据的回归分析法、产业增长率法和横向数据的主成分分析法对样本公司进行生命周期的判定。根据Kappa一致性检验的思想,提出多重Kappa一致性检验,并将其应用于三种生命周期判定方法的一致性研究。结果表明:(1)回归分析法和产业增长率法判定结果不具有一致性;回归分析法与主成分分析法结果不具有一致性;产业增长率法与主成分分析法结果具有一致性。(2)三种方法在判定企业生命周期的运用中各有所长。  相似文献   

11.
This paper builds on the author's earlier work on the history of operational research by presenting an analysis of the development of the discipline in Iron and Steel, an industry long regarded as one of the outstanding pioneers in the application of management science to decision-making processes. The contribution of Sir Charles Goodeve and BISRA to the diffusion and practice of operational research is well-documented. Less well known is the reaction to operational research within the managerial hierarchies of the private sector iron and steel companies. In the light of the development of dedicated operational research groups by the leading companies after 1950, it might be assumed that the industry was highly receptive to the discipline in terms of its perceived benefits. The present paper questions this assumption by highlighting the problems encountered by operational researchers in two of the largest Iron and Steel Companies which gave every appearance of being at the forefront of the practice of management science in British industry. Where appropriate, the paper draws contrasts and comparisons with the development of operational research within the nationalised Coal Industry.  相似文献   

12.
多元统计在上市公司财务年报分析中的应用   总被引:8,自引:0,他引:8  
文章把多元统计中的因子分析法用于分析上市公司的财务年报,从分析结果可见,这一方法是切实可行的综合分析上市公司财务年报的有效方法,并且分析结果可做为投资者参考的主要依据之一。  相似文献   

13.
Steel production is a multi-stage process. A slab yard serves as a buffer between the continuous casting stage and the steel rolling stage. Steel slabs are stored in stacks in the yard. Shuffling is needed when picking up a slab for heating and rolling, if it is not in the top position of a stack. This paper studies the problem of selecting appropriate slabs in the yard for a given rolling schedule so as to minimise the total shuffling cost. The study uses the hot strip rolling mill in Shanghai Baoshan Iron and Steel Complex as an application background. We propose a new heuristic algorithm to solve the problem. This is a two-phase algorithm that first generates an initial feasible solution and then improves it using local search. The new algorithm is compared with the algorithm in use on randomly generated test problems and on real data. Experimental results show that the proposed algorithm yields significant better solutions. The average improvement over the old algorithm is 15%.  相似文献   

14.
本文把经济系统作为一类生灭过程来考虑 .应用人口控制论和森林系统的成功经验 ,研究经济系统的临界值问题 .首先 ,基于实际的经济分析、预测模型 ,在宏观层次上建立经济系统的控制模型 .连续模型便于理论研究 ,离散模型便于计算机仿真 .然后在这个控制模型的基础上 ,寻找使国民经济持续发展所需要的最小资产积累率表达形式 .本文得到的理论值将帮助我们更深刻地理解经济系统  相似文献   

15.
中国优质企业环境会计信息披露决策研究   总被引:2,自引:0,他引:2  
环境保护是我国社会与经济能否实现可持续发展的关键,而环境保护必须通过企业行为得到落实,因此分析企业环境保护的积极性是经济理论和实践的迫切命题.选取代表我国优质企业的上市公司,利用Probit模型对它们环境信息披露的现状和披露的积极性进行分析研究,得出了能够对上市公司的环境会计信息披露倾向构成显著性影响的三个主要因素,它们为是否获得ISO14000环境管理体系认证、主营业务利润增长率的高低和国有股在该公司资本结构中所占比例.所研究的是国内首个通过计量方法分析企业环境会计信息披露倾向的影响因素的论文,具有较大的理论指导意义.  相似文献   

16.
The use of multiscale statistics, that is, the simultaneous inference about various stretches of data via multiple localized statistics, is a natural and popular method for inference about, for example, local qualitative characteristics of a regression function, a density, or its hazard rate. We focus on the problem of providing simultaneous confidence statements for the existence of local increases and decreases of a density and address several statistical and computational issues concerning such multiscale statistics. We first review the benefits of employing scale-dependent critical values for multiscale statistics and then derive an approximation scheme that results in a fast algorithm while preserving statistical optimality properties. The main contribution is a methodology for calibrating multiscale statistics that does not require a case-by-case derivation of its specific form. We show that in the above density context the methodology possesses statistical optimality properties and allows for a fast algorithm. We illustrate the methodology with two further examples: a multiscale statistic introduced by Gijbels and Heckman for inference about a hazard rate and local rank tests introduced by Dümbgen for inference in nonparametric regression.

Code for the density application is available as the R package modehunt on CRAN. Additional code to compute critical values, reproduce the hazard rate and local rank example and the plots in the paper as well as datasets containing simulation results and an appendix with all the proofs of the theorems are available online as supplemental material.  相似文献   

17.
Because raw material inventories can compensate for the unexpected demand fluctuations as well as variability in the replenishment process, large inventories are maintained to ensure the continuity of production. But storing them increases the inventory cost. Therefore, how to best balance raw material inventory and production demands under capacity constraints has become the serious subject faced by most large steel companies. This paper studies the raw material inventory problem abstracted from the production of Shanghai Baoshan Iron and Steel Complex (Baosteel) in a theoretical light, which provides the scientific foundation for practical applications. Safety stock and safety lead time are first introduced to absorb the random fluctuations. Then, a constrained optimization model is formulated to minimize the total cost attributed to raw material inventories. By using a synergistic combination of Lagrangian relaxation, ordinal introduction of constraints algorithm and heuristic algorithms, high-quality plans are obtained in a timely manner.  相似文献   

18.
In this paper, we consider a single-species stage-structured model with birth pulses and the harvesting of the species. Especially, we assume that the species can be divided into the immature and the mature, which exhibit different death rates. The mature species reproduces at fixed moments each year because the birth of many species is seasonal or occurs in a regular pulse, and the species is harvested not during the whole year but during a single period of the year. For such a system, we obtain conditions which guarantee the existence of a stable positive periodic solution. This implies that sustainable exploitation of the species can be maintained if we use the proper strategy in the harvesting effort and timing. Further, in order to get the maximum annual sustainable yield, we optimize the harvesting using numerical analysis; in addition, we find that the harvesting timing affects the maximum annual sustainable yield. Lastly, we show the effects of birth rate and harvesting effort on the dynamical complexity of the system with the help of a bifurcation graph.  相似文献   

19.
基于规模报酬可变的DEA模型和Malmquist指数方法,利用中国22家家电上市公司2006-2011年间的截面数据和面板数据,从静态视角和动态视角双维度考察了这一时期中国家电上市公司效率状况.研究发现,2006-2011年期间中国家电上市公司技术效率状况不佳,平均值为0.87,技术效率经历了下降后缓慢上升的趋势;中国家电上市公司动态效率较低,平均增长率为2.3%,且动态效率具有明显的波动性,缺乏持续的增长趋势,技术进步是中国家电上市公司动态效率增长主要动力,技术效率对其增长贡献较小.  相似文献   

20.
Tomsk State Pedagogical Institute; Scientific-Research Institute of the Iron Industry of the Ministry of Chemical and Oil Refining Industry of the USSR. Translated from Teoreticheskaya i Matematicheskaya Fizika, Vol. 86, No. 3, pp. 344–352, March, 1991.  相似文献   

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