生物医药论文生物医药上市公司盈利能力.doc

生物医药论文：生物医药上市公司盈利能力分析【中文摘要】生物医药被认为是21世纪最具发展前景的产业之一。自从改革开放以来,我国生物医药产业保持了较快的增长速度,年均增长率远超过同期的国内生产总值,有力的推动整个国民经济实现快速发展。近年来,从国家到地方不断出台相关政策来支持生物医药产业的发展,并将生物医药纳入到“十二五”战略性新兴产业规划当中,这意味着生物医药产业将不断得到政策上有力的支持。同时,随着我国社会人口老龄化速度的加快和人们生活水平的不断提高,生物医药产业将面临巨大的市场需求潜力。这些因素将对我国生物医药产业的发展产生极大的推动作用,使得生物医药产业的发展在未来将受到广泛的关注。企业从事生产经营活动,最重要的目标是实现利润最大化并维持企业健康稳定的发展。盈利能力在企业绩效评价和财务分析中居于核心地位,受到企业各方面利益相关者的广泛关注。盈利能力是企业管理人员经营业绩的重要体现,是企业不断提高员工福利的有效保障,是企业回报投资者和债权人的主要资金来源。因此,盈利能力分析对企业来讲至关重要。基于国内外对盈利能力相关研究的基础上，本文首先对我国生物医药行业的盈利能力进行整体分析,得出了生物医药行业的发展现状、战略地位、发展趋势、盈利现状以及可能的影响因素。然后,利用因子分析法求出生物医药上市公司09-11年的综合因子得分,并以此作为被解释变量,对综合因子得分和可能的影响因素进行多元线性回归分析,得到生物医药上市公司的主要影响因素及其影响程度。最后,本文提出了改善生物医药上市公司盈利能力的相关措施、意见。【英文摘要】The bio-pharmaceutical industry is considered to be one of the most promising industries in the21st century. Since the Reform and Opening, Chinas bio-pharmaceutical industry has been maintaining at a rapid growth rate, and the annual average growth rate farly exceeds the gross domestic product during the same period, and powerful impetus to the entire national economy to achieve rapid development. In recent years, the central government and local governments have put forward relevant policies to support the development of the bio-pharmaceutical industry, and bring the bio-pharmaceutical as a strategic emerging industriy into the Twelfth Five-Year Plan, which means that the bio-pharmaceutical industry will get the strong support in the policy. Meanwhile, with the acceleration of the aging speed of our countrys population and the continuous improvement of peoples living standard, the biopharmaceutical industry will be faced with enormous potential of market demand. These factors will greatly promote Chinas biopharmaceutical industry, so the rapid development of the bio-pharmaceutical industry will receive widespread attention in the future.Enterprises carry on production and business activities to achieve the most important goal to maximize profits and maintain healthy and stable development. In the performance evaluation and financial analysis, the profitability evaluation lies on the core position, and get widespread concern of the stakeholders in all aspects of business. Profitability is the important result of operation of the enterprise management personnel, and is the important guarantee to continuously improve the employees benefits, and is the major source to return investors and creditors of the corporate. Therefore, the profitability evaluation is essential for the enterprise.Based on the domestic and foreigns profitability evaluation, this paper fistly carries an overall analysis on the profitability of our counrtys bio-pharmaceutical industry, and get the whole industys development status, strategic position, development trends, profitability status quo and potential influencing factors. Then, this paper use the factor analysis to calculate the factor scores of the bio-pharmaceutical listed companies from2009to2011, and use multiple linear regression analysis to get the main factors and their impact. Finally, this paper give some measures to improve the profitability of bio-pharmaceutical listed companies.【关键词】生物医药 盈利能力 因子分析 回归分析【英文关键词】Bio-pharmaceuticals Profitability Factor analysis Regressionanalysis【目录】生物医药上市公司盈利能力分析中文摘要9-10ABSTRACT10-11第一章 绪论12-151.1 本文的研究背景121.2 本文的研究目的12-131.3 本文的研究方法131.4 本文的研究思路13-141.5 本文的创新之处14-15第二章 文献综述15-202.1 国外盈利能力研究状况15-172.2 国内盈利能力研究状况17-20第三章 生物医药行业盈利能力整体分析20-323.1 我国生物医药行业的发展现状203.2 我国生物医药行业的战略地位20-213.3 我国生物医药行业的发展趋势21-233.3.1 政策支持力度将增强21-223.3.2 中介服务将不断发展223.3.3 产业园区将不断增加223.3.4 风险投资将逐渐发展22-233.3.5 国际合作将更为频繁233.4 我国生物医药行业的盈利现状分析23-263.4.1 财务数据的选取23-243.4.2 盈利指标的选取24-253.4.3 盈利现状的统计分析25-263.5 我国生物医药行业盈利能力影响因素分析26-323.5.1 营运能力27-283.5.2 资本结构28-293.5.3 股权结构29-303.5.4 研发能力303.5.5 成长能力30-313.5.6 公司规模31-32第四章 生物医药上市公司盈利能力实证分析32-424.1 因子分析32-364.1.1 因子分析的基本原理32-334.1.2 原始数据的标准化处理334.1.3 原始变量的相关性判断334.1.4 提取公因子33-344.1.5 因子旋转34-354.1.6 计算因子得分35-364.2 回归分析36-424.2.1 回归分析的基本原理36-374.2.2 盈利能力回归分析37-394.2.3 回归分析结果解释39-42第五章 提升生物医药上市公司盈利能力的若干建议42-475.1 立足公司实际,有针对性的做出改进425.2 提高营运能力,加快资产周转速度42-435.3 优化资本结构,合理确定负