经营性资产质量评价指标体系的构建与检验——来自我国化工行业A股上市公司的经验证据

Construction and Test of Quality Assessing System on Operating Assets:Empirical Evidence from China's A Share Listed Companies in Chemical Industry

经营性资产通常是企业资产的重要组成部分,尤其对于制造业企业的经营成败更是至关重要。本文结合新会计准则引起的有关经营性资产信息披露方面的变化,从周转性、增值性以及获现性等三方面构建经营性资产质量评价指标体系。在此基础上,以我国化工行业A股上市公司为研究样本,通过因子分析和聚类分析等方法将样本公司划分成五类,并通过t检验识别出不同类别公司间存在显著性差异的指标。实证结果验证了该指标体系对经营性资产质量评价的有效性,同时揭示了影响各类企业经营性资产质量的关键因素。

Operating assets are key components of the business＇s assets, especially for the manufacturing companies. Beginning with the study about the changes of information disclosure on operating assets under new accounting standards, this paper tries to construct a financial index system for evaluating the quality of operating assets, and then tests the efficiency of this system by using factor analysis and cluster analysis on the data of China＇s A share listed companies in chemical industry. The empirical result shows that the system is effective, and it also points out the key factors that could restrict various companies from improving their quality of operating assets.