兰州大学机构库 >经济学院
甘肃制造业企业新三板挂牌研究:基于持续经营能力的视角
Alternative TitleRESEARCH ON THE LISTING OF NEEQ OF GANSU MANUFACTURING ENTERPRISES : BASED ON THE PERSPECTIVE OF GOING-CONCERN ABILITY
石玮
Thesis Advisor童长凤
2019-04-25
Degree Grantor兰州大学
Place of Conferral兰州
Degree Name硕士
Degree Discipline金融
Keyword新三板 持续经营能力 制造业 反馈意见
Abstract制造业的发展是我国经济健康稳定发展的基石,又是吸收就业,发展经济的主要力量。甘肃省地处偏远、经济欠发达,制造业中小企业的发展处于国内较低水平。帮助制造业转型升级,是甘肃省当前一个阶段的工作重点之一。新三板是面向中小企业直接融资的平台,对降低中小企业杠杆,拓宽其融资渠道有重大意义。在新三板挂牌是甘肃省中小企业进入资本市场,帮助企业成长,增强自身实力的重要选择。持续经营能力是企业挂牌新三板时必须满足的条件之一,也是企业综合竞争能力的基础。很多拟挂牌企业在准备挂牌阶段,暴露出持续经营能力不足的问题。股转系统会以反馈意见的形式,要求公司对持续经营能力的疑虑做出分析与答复。直到疑虑消除,企业才能挂牌成功。由于甘肃挂牌的制造业企业在区域内相对优秀,其审核阶段受质询的持续经营能力问题,在同类企业中可能更为普遍。本文从理论层面讨论了持续经营能力及其影响因素、监管对持续经营的要求。结合制造业行业的特点,建立从财务质地、经营质量、治理效能三个视角下分析制造业持续经营能力的框架。在梳理甘肃制造业企业和已挂牌制造业企业现状后,归纳总结甘肃制造业挂牌企业反馈意见。发现财务质地问题为偿债能力欠佳,现金流量波动性较大,与盈利不匹配;经营质量问题为盈利能力低、存货过多、供应商及客户集中度过高;治理效能问题为关联交易、关联方资金占用随意。并结合甘肃省区域特点和制造业特点,分析问题产生的原因,利用反馈意见回复分析说明重点问题。最后针对区域性、共性的问题提出改善建议,为想要在新三板挂牌的甘肃制造业企业给出参考,帮助其及早规范自身经营,以期减少挂牌审核阶段的问题,提高其挂牌效率。也为甘肃制造业企业增强持续经营能力提供建议,为其健康长远的发展奠定基础。 
Other AbstractThe development of the manufacturing industry is the cornerstone of the healthy and stable development of China's economy, and it is also the main force for absorbing employment and developing the economy. Gansu Province is located in a remote and economically underdeveloped country, and the development of small and medium-sized enterprises in manufacturing is at a low level in China. Helping the transformation and upgrading of the manufacturing industry is one of the priorities of Gansu Province. The NEEQ is a platform for direct financing of SMEs. It is of great significance to reduce the leverage of SMEs and broaden their financing channels. Listing on the NEEQ is an important choice for SMEs in Gansu Province to enter the capital market, help companies grow and strengthen their own strength. The going-concern ability to operate is one of the conditions that must be met when a company is listed on the NEEQ, and it is also the basis for the company's comprehensive competitiveness. Many of the companies to be listed are exposing the problem of insufficient capacity to continue to operate in the stage of preparation for listing. In the form of feedback, the stock transfer system will require the company to analyze and respond to doubts about the going-concern ability to operations. Until the doubts are removed, the company can be listed successfully.Since the manufacturing enterprises listed in Gansu are relatively excellent in the region, the issue of the going-concern ability to operate due to inquiry in the audit stage may be more common among similar enterprises. This paper discusses the going-concern ability and its influencing factors and the requirements of supervision for going-concern from a theoretical perspective.. Combined with the characteristics of manufacturing industry, this paper analyzes the three perspectives from financial quality, management quality and governance effectiveness. After combing the status quo of Gansu manufacturing enterprises and listed manufacturing enterprises, we summarized the feedback from Gansu manufacturing listed companies. The financial quality problem is found to be poor solvency, the cash flow is highly volatile, and the profit is not matched. The quality of operation is low profitability, too much inventory, too high concentration of suppliers and customers; The related party funds are occupied at will. Combined with the regional characteristics and manufacturing characteristics of Gansu Province, the author analyzes the causes of the problems and uses feedback to analyze and explain the key issues. Finally, suggestions for improvement on regional and common issues are given. It is a reference for Gansu manufacturing enterprises that want to be listed on the NEEQ to help them standardize their own operations in order to reduce the problems in the listing review stage and improve their listing efficiency. It also provides advice for Gansu manufacturing enterprises to enhance their going-concern ability to operate, laying the foundation for their long-term health development. 
Pages59
URL查看原文
Language中文
Document Type学位论文
Identifierhttp://ir.lzu.edu.cn/handle/262010/341129
Collection经济学院
Affiliation经济学院
First Author AffilicationSchool of Economics
Recommended Citation
GB/T 7714
石玮. 甘肃制造业企业新三板挂牌研究:基于持续经营能力的视角[D]. 兰州. 兰州大学,2019.
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