本文選題：業(yè)績評價 + 因子分析��； 參考：《重慶交通大學》2013年碩士論文

【摘要】：企業(yè)業(yè)績評價作為企業(yè)管理的難點之一,向來是管理科學領域研究的熱點問題。建立一套科學合理并且行之有效的企業(yè)經營業(yè)績評價體系,能夠對企業(yè)的經營行為起到正確的引導作用,幫助企業(yè)的經營管理者尋找企業(yè)的優(yōu)勢和差距,從而使企業(yè)保持優(yōu)勢、縮短差距以提升自身的核心競爭力,實現(xiàn)企業(yè)發(fā)展的戰(zhàn)略性目標。 隨著我國社會主義市場經濟體制的實現(xiàn),在經濟快速發(fā)展的過程中,房地產行業(yè)的迅猛發(fā)展為我國國民經濟建設添磚加瓦。2008年的金融危機使我國市場環(huán)境變化深刻,政府對于房地產市場的大力調控使得房地產業(yè)做出了重要的發(fā)展變革,在這樣的背景下,評價我國房地產企業(yè)的業(yè)績水平具有非常重要的現(xiàn)實意義,同時也對整個國民經濟的發(fā)展起到了重要的作用。 本文首先對企業(yè)業(yè)績評價的相關理論進行了梳理,同時對本文所使用的因子分析和EVA這兩種業(yè)績評價方法進行了理論探討。在此基礎上,利用深滬兩市30家房地產企業(yè)2012年的財務數(shù)據(jù)作為樣本對其進行業(yè)績評價的實證研究。從盈利能力、營運能力、償債能力、發(fā)展能力四個角度篩選符合房地產企業(yè)特點的評價指標,作為因子分析的原始變量指標,文章共得到五個公共因子。然后運用EVA的業(yè)績評價方法,選擇計算的調整項目,根據(jù)公式計算出各樣本企業(yè)EVA的值,由于考慮到規(guī)模效應,用EPA (EVA/投入資本總額)對30家房地產企業(yè)進行業(yè)績情況的排名。得到這兩種方法的評價結果后,運用綜合序數(shù)法判斷二者的相關度,然后選擇適當?shù)臋嘀乇壤龑煞N業(yè)績評價的結果進行綜合,得到排名結果。 使用因子分析和EVA相結合的業(yè)績評價方法不僅可以較為全面的反映出企業(yè)的財務信息,而且由于考慮了企業(yè)的資本成本,使得評價結果能夠更為真實地反映出企業(yè)為股東創(chuàng)造出的財富。
[Abstract]:As one of the difficulties in enterprise management, enterprise performance evaluation has always been a hot issue in the field of management science. The establishment of a set of scientific, reasonable and effective evaluation system of business performance can guide the management behavior of enterprises correctly, help the managers of enterprises to find the advantages and gaps of enterprises, so that the enterprises can maintain their advantages. Shorten the gap to enhance their core competitiveness and achieve the strategic goal of enterprise development. With the realization of socialist market economy system in China, the rapid development of real estate industry contributes to the construction of our national economy in the process of rapid economic development. The government has made great efforts to adjust and control the real estate market. Under this background, it is of great practical significance to evaluate the performance level of Chinese real estate enterprises. At the same time, the development of the entire national economy has played an important role. This paper firstly combs the relevant theories of enterprise performance evaluation, and probes into the two methods of performance evaluation, which are factor analysis and EVA, which are used in this paper. On this basis, the financial data of 30 real estate companies in Shenzhen and Shanghai stock markets in 2012 are used as samples to evaluate their performance. From the four angles of profitability, operation ability, solvency and development ability, the evaluation indexes which accord with the characteristics of real estate enterprises are selected. As the original variable indexes of factor analysis, five public factors are obtained in this paper. Then, by using the performance evaluation method of EVA, the adjusted items are selected, and the value of EVA of each sample enterprise is calculated according to the formula. Considering the effect of scale, the performance of 30 real estate enterprises is ranked by EPA / total investment capital. After the evaluation results of the two methods are obtained, the correlation degree of the two methods is judged by the method of comprehensive ordinal number, and then the results of the two kinds of performance evaluation are synthesized with appropriate weight ratio, and the ranking results are obtained. The performance evaluation method combining factor analysis and EVA can not only reflect the financial information of the enterprise, but also consider the capital cost of the enterprise. So that the evaluation results can more truly reflect the wealth created by enterprises for shareholders.
【學位授予單位】：重慶交通大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F299.233.42

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本文編號：1785054