【摘要】：農(nóng)業(yè)上市公司作為農(nóng)業(yè)產(chǎn)業(yè)化的龍頭企業(yè)，享受了國家的財政稅收優(yōu)惠政策，是國家發(fā)展農(nóng)業(yè)、利用證券市場支持農(nóng)業(yè)產(chǎn)業(yè)化經(jīng)營的排頭兵。但是近年來，有些農(nóng)業(yè)上市公司卻打著“農(nóng)”字招牌，在享受國家各項優(yōu)惠政策的同時，將資金投放于高風險高收益且自身并不熟悉的領(lǐng)域，進行非農(nóng)擴張，從事“背農(nóng)”經(jīng)營。但是，這種“背農(nóng)”經(jīng)營能否在提高企業(yè)的經(jīng)營績效？而且，農(nóng)業(yè)上市公司作為農(nóng)業(yè)產(chǎn)業(yè)化的“龍頭”企業(yè)，還應(yīng)對我國農(nóng)業(yè)產(chǎn)業(yè)化發(fā)展起到積極的引導作用，而農(nóng)業(yè)上市公司的這種“背農(nóng)”行為是否有利于國家的農(nóng)業(yè)產(chǎn)業(yè)化發(fā)展？ 基于這些問題，本文需要采用理論和實證相結(jié)合的方法來分析農(nóng)業(yè)上市公司的“背農(nóng)”經(jīng)營的問題。本文首先進行文獻綜述和理論分析，闡述了企業(yè)多元化經(jīng)營，農(nóng)業(yè)上市公司“背農(nóng)”經(jīng)營和企業(yè)績效的有關(guān)理論，并對學者們在這些方面的理論與實證研究進行了回顧。在此基礎(chǔ)上，提出了本文的假設(shè)。 然后，以2009—2011年滬、深兩市的45家農(nóng)業(yè)上市公司為樣本，采用實證分析中的均值分析、因子分析、比較分析的方法來比較“背農(nóng)”與“非背農(nóng)”經(jīng)營的農(nóng)業(yè)上市公司的企業(yè)績效；并采用描述性統(tǒng)計分析、相關(guān)分析以及回歸分析的方法來分析農(nóng)業(yè)上市公司“背農(nóng)”經(jīng)營與企業(yè)績效、企業(yè)盈利能力、償債能力、資產(chǎn)管理能力、股本擴張能力以及企業(yè)成長能力之間的關(guān)系。得出了以下結(jié)論：一是在企業(yè)績效方面，“背農(nóng)”經(jīng)營的農(nóng)業(yè)上市公司要明顯優(yōu)于“非背農(nóng)”經(jīng)營的農(nóng)業(yè)上市公司；二是農(nóng)業(yè)上市公司“背農(nóng)”經(jīng)營與企業(yè)績效、股本擴張能力、資產(chǎn)管理能力呈顯著的負相關(guān)關(guān)系。 最后，根據(jù)實證分析的結(jié)論，從農(nóng)業(yè)上市公司和政府兩方面提出政策性建議。改善農(nóng)業(yè)上市公司經(jīng)營狀況，提高經(jīng)營績效，不僅需要農(nóng)業(yè)上市公司自身的努力，，還需要政府的大力支持。從農(nóng)業(yè)上市公司方面來看，應(yīng)該規(guī)范其公司治理結(jié)構(gòu)，完善現(xiàn)代企業(yè)制度；立足于農(nóng)業(yè)主營業(yè)務(wù)，提高農(nóng)業(yè)上市公司的核心競爭能力；實行農(nóng)業(yè)產(chǎn)業(yè)化經(jīng)營，進行縱向多元化。從政府方面看，應(yīng)該建立健全對農(nóng)業(yè)上市公司的監(jiān)管；改善農(nóng)業(yè)優(yōu)惠補貼的方式；并加大對違規(guī)農(nóng)業(yè)上市公司的懲處力度。
[Abstract]:As the leading enterprise of agricultural industrialization, agricultural listed company enjoys the preferential policy of national finance and taxation, and is the vanguard of the country to develop agriculture and support agricultural industrialization management by using securities market. However, in recent years, some agricultural listed companies have carried the sign of "agriculture", while enjoying various preferential policies of the state, they have invested their funds in high-risk, high-income and unfamiliar fields for non-agricultural expansion. Engaged in "back farmers" management. However, can this kind of "backfarm" management improve the business performance of enterprises? Moreover, as the "leading" enterprises in agricultural industrialization, agricultural listed companies should also play a positive role in guiding the development of agricultural industrialization in China. And the agricultural listed companies'"back farming" behavior is conducive to the development of the country's agricultural industrialization? Based on these problems, this paper needs to adopt the method of combining theory and demonstration to analyze the problem of agricultural listed companies'"back farming" management. In this paper, first of all, literature review and theoretical analysis are carried out, and the related theories of enterprise diversification, agricultural listed companies'"back farming" management and enterprise performance are expounded, and the theoretical and empirical studies on these aspects are reviewed. On this basis, the hypothesis of this paper is put forward. Then, taking 45 agricultural listed companies in Shanghai and Shenzhen stock markets from 2009 to 2011 as samples, using the mean value analysis and factor analysis in empirical analysis, The method of comparative analysis is used to compare the enterprise performance of agricultural listed companies operated by "back farmers" and "non-back farmers", and the descriptive statistical analysis is used. Correlation analysis and regression analysis are used to analyze the relationship between agricultural listed companies'"back farming" management and corporate performance, profitability, solvency, asset management, equity expansion and enterprise growth. The main conclusions are as follows: first, in terms of enterprise performance, the agricultural listed companies operated by "back farmers" are obviously superior to the agricultural listed companies operating "non-back farmers", the second is "back agriculture" management and enterprise performance of agricultural listed companies. There is a significant negative correlation between the ability of equity expansion and the ability of asset management. Finally, according to the conclusion of empirical analysis, policy suggestions are put forward from two aspects of agricultural listed companies and government. To improve the management status and performance of agricultural listed companies, not only needs the efforts of agricultural listed companies themselves, but also needs the support of the government. From the point of view of agricultural listed companies, we should standardize their corporate governance structure, perfect the modern enterprise system, base on the main agricultural business, improve the core competitive ability of agricultural listed companies, carry out agricultural industrialization management and carry out vertical diversification. From the government's point of view, we should establish and improve the supervision of agricultural listed companies; improve the way of agricultural preferential subsidies; and increase the punishment of illegal agricultural listed companies.
【學位授予單位】：南京財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F324;F302.6

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