本文關鍵詞： 整體上市 績效評價 突變級數(shù)法 熵值法　出處：《深圳大學》2017年碩士論文　論文類型：學位論文

【摘要】：2004年,TCL通過換股IPO模式率先在國內(nèi)實現(xiàn)了整體上市,自此以后,中國資本市場上很多企業(yè)集團都紛紛開始實施整體上市,2007年更是達到了高峰。特別是隨著2015年國有企業(yè)改革總體方案的發(fā)布,新一輪的國企改革大幕已經(jīng)拉開。2010年3月,上海醫(yī)藥通過重組實現(xiàn)整體上市,重組資產(chǎn)量達到300億元,交易對價164億元,這是中國醫(yī)藥產(chǎn)業(yè)里重組資產(chǎn)量和對價最大的一個案例。本文則以上海醫(yī)藥重組上市為案例進行研究,為上海醫(yī)藥整體上市構(gòu)建了綜合績效評價體系。本文首先梳理了整體上市、績效及其關聯(lián)關系的國內(nèi)外相關文獻,對國內(nèi)外關于該課題的研究現(xiàn)狀進行了解;然后對整體上市和績效的相關概念和理論進行界定和總結(jié);接著介紹上海醫(yī)藥整體上市的主要過程。在以上文獻綜述和理論的基礎上,為上海醫(yī)藥整體上市構(gòu)建綜合績效評級體系,利用突變級數(shù)法和熵值法相結(jié)合,從上海醫(yī)藥財務績效、協(xié)同績效和社會績效著手進行評價,并計算出數(shù)據(jù)進行縱向?qū)Ρ?分析上海醫(yī)藥整體上市前后績效的變化情況。本文運用熵值法對各項指標進行指標權(quán)重的賦予,避免了由人為因素造成的影響,同時運用突變級數(shù)法對數(shù)據(jù)進行整體分析,將各指標聯(lián)系起來整體分析,得到整體績效的評價。同時引入醫(yī)藥行業(yè)的其他兩大醫(yī)藥企業(yè)的財務績效數(shù)據(jù)與上海醫(yī)藥進行橫向?qū)Ρ?分析上海醫(yī)藥整體上市前后財務績效與同行業(yè)的其他兩大醫(yī)藥企業(yè)之間的差距,加強整體上市與財務績效提升之間的關系。研究結(jié)果表明,整體上市對上海醫(yī)藥的績效提升具有正面影響。但從長期來看,上海醫(yī)藥的協(xié)同績效方面的數(shù)據(jù)是有所下降的。最后根據(jù)上海醫(yī)藥整體上市績效的表現(xiàn)及其影響因素為醫(yī)藥企業(yè)整體上市提供建議參考。
[Abstract]:In 2004, TCL took the lead in realizing the overall listing in China through the mode of stock exchange IPO, and since then, In China's capital market, many enterprise groups have begun to implement the overall listing, and reached a peak in 2007. In particular, with the release of the general plan for the reform of state-owned enterprises in 2015, a new round of state-owned enterprise reform has been launched. On March 2010, Shanghai Pharmaceutical listed as a whole through restructuring. The amount of assets reorganized amounted to 30 billion yuan, with a transaction price of 16.4 billion yuan. This is the largest case of recombination assets and consideration in the Chinese pharmaceutical industry. A comprehensive performance evaluation system is constructed for the overall listing of Shanghai medicine. Firstly, this paper reviews the related literature on the whole listing, performance and its correlation relationship, and makes an understanding of the status quo of the research on this subject at home and abroad. Then it defines and summarizes the related concepts and theories of holistic listing and performance, and then introduces the main process of holistic listing of Shanghai medicine. In order to set up a comprehensive performance rating system for the whole listing of Shanghai Medicine, this paper uses the catastrophe series method and entropy method to evaluate the financial performance, synergistic performance and social performance of Shanghai medicine, and calculates the data for longitudinal comparison. This paper analyzes the changes of the performance before and after the overall listing of Shanghai medicine. The entropy method is used to endow each index with the index weight, which avoids the influence caused by human factors. At the same time, the abrupt progression method is used to analyze the data as a whole. The financial performance data of the other two major pharmaceutical enterprises in the pharmaceutical industry are introduced to compare with the Shanghai pharmaceutical industry horizontally. This paper analyzes the gap between the financial performance before and after the overall listing of Shanghai medicine and the other two pharmaceutical enterprises in the same industry, and strengthens the relationship between the overall listing and the improvement of financial performance. The overall listing has a positive impact on the performance of Shanghai Medicine. But in the long run, Finally, according to the performance of the overall listed performance of Shanghai Medicine and its influencing factors, the paper provides some suggestions for the overall listing of pharmaceutical enterprises.
【學位授予單位】：深圳大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F832.51;F426.72;F406.7

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