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Research On The Evaluation And The Optimization Of The Chinese Listed Companies

Posted on:2005-08-30Degree:MasterType:Thesis
Country:ChinaCandidate:M Q FeiFull Text:PDF
GTID:2156360152470813Subject:Accounting
Abstract/Summary:PDF Full Text Request
Securities market plays a very important role in a country, it reflects the economic condition of a country. From early 90century to now , securities market developed very fast and the quantity of the listed companies increased fast. However, in recent years, all the correlative ones started to survey and concern about the financial quality of the listed firms. Traditional financial analyses mostly are the quantity ananlyses, hardly pay attention to the quality. In front of the magnificent number , we should pay more close attention to the quality behind the number.So the financial quality of the listed companies is an urgent project. Researching the financial quality of the listed companies has great practical meanings and theoretical meanings.Analysing the existed research on the financial quality of the listed company, we find that the financial analysis system is too complex, pays much attention to the quantity, while little attention to the quality. And it is hard for the non-professional persons to master, not easy to operate. According to that, this paper tries to construct a new analysis frame to predigest the traditional multi-index analysis system. And the new system will build up the analysis on financial quality, increase maneuverability. On the basis of the different source of thereport data used in the analysis,this paper will divide the financial quality analysis into two parts—assets quality analysis and earnings quality analysis. This paper constructs an analysis system based on the related researchers' work. Considering the system has too many indexs , the paper chooses a representative index K from the assets quality analysis system and EQ from the earnings quality analysis system to analyse the financial quality of the listed firms. The two indexs - K and EQ apart reflect the assets quality and the earnings quality of the listed companies. In order to test their representative nature, the paper uses the report data from 2000 to 2002 to carry through empirical analysis on the assets quality and the earnings quality of the listed firms. Furthermore the papar puts forward some advices on optimization of the financial quality of the listed firms. The new framework is a supplement to traditional analysis system, which embodies the new thought of financial analysis.
Keywords/Search Tags:financial quality, assets quality, earnings quality, evaluation, optimization
PDF Full Text Request
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