供给侧改革对上市煤企财务压力的影响分析
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摘要
通过对沪深两市41家上市煤企2014—2017年的财务数据进行分析,研究了供给侧改革前后这些企业在偿债、保壳、保盈、营运及现金流方面的财务压力变化情况,并对财务压力变化的原因进行分析。研究表明:供给侧改革对缓解上市煤企财务压力起到了积极的作用,但依然存在继续改善的空间。并对改善上市煤企财务压力状况提出优化财务结构、加强内部控制和外部关系管理等相关建议。
Through the analysis of the financial data of 41 listed coal enterprises in Shanghai and Shenzhen stock markets from 2014 to 2017,this paper studied the financial pressure changes of these enterprises in terms of debt repayment,insurance shell,insurance,operation and cash flow before and after the supply side reform. And the reasons for the changes in financial pressure were analyzed. The research showed that the supply side reform has played a positive role in alleviating the financial pressure on listed coal enterprises,but there was still room for further improvement. And to improve the financial pressure of listed coal enterprises,suggestions of optimizing the financial structure,strengthening internal control and external relationship management were proposed.
Through the analysis of the financial data of 41 listed coal enterprises in Shanghai and Shenzhen stock markets from 2014 to 2017,this paper studied the financial pressure changes of these enterprises in terms of debt repayment,insurance shell,insurance,operation and cash flow before and after the supply side reform. And the reasons for the changes in financial pressure were analyzed. The research showed that the supply side reform has played a positive role in alleviating the financial pressure on listed coal enterprises,but there was still room for further improvement. And to improve the financial pressure of listed coal enterprises,suggestions of optimizing the financial structure,strengthening internal control and external relationship management were proposed.
引文
[1]鲁燕霞,梁丽萍.供给侧改革下煤炭企业发展面临的困难及对策[J].煤炭技术,2017,36(10):312-314.
[2]段华友,汪睿,干胜道.中小企业财务压力的机理分析及对策建议[J].企业经济,2014(1):99-102.
[3]吴国萍,马施.上市公司财务压力与信息披露违规实证研究[J].财经理论与实践,2010,31(2):59-63.
[4]牛犁.供给侧结构性改革正在破解煤炭领域深层次矛盾[N].中国经济时报,2017-07-07(008).
[5]邱永红.我国上市公司退市法律制度的历史变迁与演进实证研究——兼论《证券法》相关规定的修改完善[J].证券法苑,2014,11(2):176-247.
[6]刘福祥.供给侧改革对上市煤企财务绩效的影响分析[J].煤炭经济研究,2018,38(1):84-88.
[7]方新英,吉如昇,辛德林,等.以降本增效为目标的运营提升研究与实践[J].中国煤炭,2016(12):35-39.
[8]李媛,赵丽萍.供给侧改革进程中煤炭企业发展趋势及对策研究[J].煤炭技术,2018,37(5):321-323.
[2]段华友,汪睿,干胜道.中小企业财务压力的机理分析及对策建议[J].企业经济,2014(1):99-102.
[3]吴国萍,马施.上市公司财务压力与信息披露违规实证研究[J].财经理论与实践,2010,31(2):59-63.
[4]牛犁.供给侧结构性改革正在破解煤炭领域深层次矛盾[N].中国经济时报,2017-07-07(008).
[5]邱永红.我国上市公司退市法律制度的历史变迁与演进实证研究——兼论《证券法》相关规定的修改完善[J].证券法苑,2014,11(2):176-247.
[6]刘福祥.供给侧改革对上市煤企财务绩效的影响分析[J].煤炭经济研究,2018,38(1):84-88.
[7]方新英,吉如昇,辛德林,等.以降本增效为目标的运营提升研究与实践[J].中国煤炭,2016(12):35-39.
[8]李媛,赵丽萍.供给侧改革进程中煤炭企业发展趋势及对策研究[J].煤炭技术,2018,37(5):321-323.