【摘要】：隨著2008年金融危機(jī)的全球蔓延,中國也未能幸免。為了抗危機(jī),保增長,中央政府當(dāng)年11月推出了四萬億的投資計(jì)劃,用來刺激經(jīng)濟(jì)發(fā)展。在整個(gè)計(jì)劃中,對“鐵公雞”等重大基礎(chǔ)設(shè)施建設(shè)的投資占有重要地位,而其中對鐵路尤其是高鐵的投資更是占有重要比例。今天中國高鐵的發(fā)展在一定程度上也受益于2008年的國家經(jīng)濟(jì)刺激計(jì)劃。作為中國鐵路建設(shè)的兩大支柱性企業(yè),中國鐵建和中國中鐵,毫無疑問,在本次投資計(jì)劃中也分得一杯羹,作為上市公司,財(cái)務(wù)報(bào)表上的數(shù)據(jù)表現(xiàn)也是相當(dāng)出色。 本文首先對中國鐵建和中國中鐵兩家公司的現(xiàn)狀進(jìn)行了介紹,包括其組織結(jié)構(gòu)和相關(guān)控股方等。其次,對國內(nèi)外的財(cái)務(wù)報(bào)表分析理論和相關(guān)文獻(xiàn)進(jìn)行了回顧和評述。第三,以中國鐵建和中國中鐵2008年至2011年經(jīng)審計(jì)公布的財(cái)務(wù)數(shù)據(jù)為基礎(chǔ),先簡單對比了兩家公司的基本財(cái)務(wù)數(shù)據(jù),然后分析了兩家上市公司的經(jīng)營業(yè)績和財(cái)務(wù)狀況,對兩家公司的盈利能力、償債能力、營運(yùn)能力和發(fā)展能力進(jìn)行了全面比較分沂,在此基礎(chǔ)上,對兩家公司進(jìn)一步采用杜邦分析法和經(jīng)營協(xié)調(diào)性分析法進(jìn)行了綜合績效分析和評價(jià),最后運(yùn)用財(cái)務(wù)矩陣分析法,對兩家公司的財(cái)務(wù)政策進(jìn)行了剖析和對比,就面臨的財(cái)務(wù)問題進(jìn)行分析,并從營運(yùn)政策,資本結(jié)構(gòu)政策,投資政策和股利政策方面給出了相關(guān)結(jié)論和建議。
[Abstract]:With the global contagion of the 2008 financial crisis, China has not been spared. To fight the crisis and keep growth, the central government launched a $4 trillion investment plan in November to stimulate the economy. In the whole plan, the investment in the "iron rooster" and other major infrastructure construction plays an important role, and the investment in the railway, especially high-speed rail, is even more important. The development of high-speed rail in China today has also benefited in part from the 2008 national stimulus plan. As the two pillar companies of China Railway Construction, China Railway Construction and China Railway, there is no doubt in the investment plan to get a piece of the piece, as listed companies, the financial statements of the data performance is also quite good. This paper first introduces the current situation of China Railway Construction and China Railway, including its organizational structure and relevant controlling parties. Secondly, the financial statement analysis theory and related literature are reviewed and reviewed. Thirdly, based on the audited financial data of China Railway Construction and China Railway from 2008 to 2011, this paper briefly compares the basic financial data of the two companies, and then analyzes the operating performance and financial situation of the two listed companies. The profitability, solvency, operating capacity and development ability of the two companies are compared in a comprehensive way. On this basis, The two companies are further analyzed and evaluated by DuPont analysis and management coordination analysis. Finally, the financial policies of the two companies are analyzed and compared by using the financial matrix analysis method. This paper analyzes the financial problems and gives some conclusions and suggestions from the aspects of operation policy, capital structure policy, investment policy and dividend policy.
【學(xué)位授予單位】：西南交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F532.6

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本文編號：2281151