哈佛分析框架与企业财务分析外文文献翻译文档格式.docx
- 文档编号:18338833
- 上传时间:2022-12-15
- 格式:DOCX
- 页数:7
- 大小:22.92KB
哈佛分析框架与企业财务分析外文文献翻译文档格式.docx
《哈佛分析框架与企业财务分析外文文献翻译文档格式.docx》由会员分享,可在线阅读,更多相关《哈佛分析框架与企业财务分析外文文献翻译文档格式.docx(7页珍藏版)》请在冰豆网上搜索。
原文+译文
文献出处:
AndrewG.ThestudyofHarvardanalysisframeworkandcorporatefinancialanalysis.AmericanJournalofsociology,2016,2(4):
283-301.
原文
ThestudyofHarvardanalysisframeworkandcorporatefinancialanalysis
AndrewG
Abstract
Aneffectivefinancialanalysisframeworkshouldnotonlylearnhowtouseaccountingdata,andbegoodatusingtheaccountingdata.Enterprisestoimplementitsbusinessstrategyarebasedontheaccountingdata,andignoretheenterpriseenvironmentandstrategicanalysis.Thus,toamorecomprehensiveunderstandingofenterpriseoperatingperformance,butalsoextendsthetraditionalfinancialanalysisobjectbythefinancialstatementsfortheentirefinancialreportandrelatedinstitutionalenvironment,buildanewfinancialanalysisframeworkismoreandmorenecessary.Newanalysisframeworkshouldbemorewithstrategicvision,focusonthedevelopmentstrategyoftheenterprise,takestheenterprise'
scompetitiveposition,USESthemethodofmanagementrelatedproblemanalysis,financialstatementanalysisandanalysisoforganiccombinationofenterprisedevelopmentstrategy,analysisofenterpriseinternalandexternalmanagementenvironment,combinedwiththeoveralldevelopmentoftheenterprisestrategicandlong-terminterests,analyzethecontentofthemorewidelyandmorewide,totheenterprisemanagementdecisionmakingwillbemorevaluable.Harvardanalysisframeworkandharvardanalysisframeworkarisesatthehistoricmoment,standinginastrategicpointofview,isnotlimitedtothecompany'
sfinancialstatements,toanalyzetheopportunitiesandthreatsfromexternalenvironment,andtheenterpriseinternalstrengthsandweaknesses,theanalysisoffinancialsituationimprovedpredictionisscientific,pointedoutthedirectionoffuturedevelopmentfortheenterprise.
Keywords:
Harvardanalysisframework,theelectricpowerenterprise,strategy,financialanalysis
1Introduction
Thedevelopmentneedsofanenterprisefinancialanalysisforitshelp,financialanalysishasattractedtheattentionoftheenterprise,expertsandscholarsarealsoconstantlyexplorethesolutiontothefinancialanalysis,financialanalysisframeworkofresearchinrecentyears,moreandmore.Harvardanalysisisthesublimationoftraditionalfinancialanalysis,theframeworkfromthemanagementstrategyofenterprises,analyzesthefinancialdataoftheenterprise,accountinganalysis,findoutenterprisepossiblefalseresults,andthenadoptsomemethodstoimprovethequalityofaccountinginformation,andonthebasisoffinancialanalysis,realisticanalysisoftheresults,andthenforecasttheprospectoftheenterprise.Thetraditionalfinancialanalysisframeworkisinthelong-termpracticeoffinancialanalysisandtheoreticalsummaryandform,itismainanalysisobjectwithfinancialstatements,althoughjoinedthefinancialcomprehensiveanalysismodelorsystem,butstillwithquantitativeanalysisasthebasiccharacteristicsofneglectorsomeimportantfinancialinformationcannotbeeffectivelyincorporatedintotheanalysisframework.Traditionalanalysisframeworkismainlyanalysisenterprise'
sfinancialstatements,isbasicallyastateof"
reportonreport"
.Andcommonlyusedanalysismethodsmainlyincluderatioanalysis,comparativeanalysis,trendanalysisandDuPontfinancialanalysissystem,etc.,mainlythroughthecalculationandcomparisonofthefinancialstatementdata,drawthecorrespondingindexdata,thentheresultsofcomparativeanalysisandfactoranalysis,heavy"
quantity"
isnot"
quality"
thelackofthenatureoftheanalysisofaproblem.Traditionalanalysis,withemphasisontheinternalsituation,themainprocessflowsoftheenterprise,assetutilizationability,debtpayingability,profitabilityanalysis,andignoretheexternalbusinessenvironment.Andanalysisbasedonfinancialstatementsandfinancialstatementsisasummaryofthebusinessinthepast,andthisanalysishastheobviouslag.Thetraditionalfinancialanalysisframeworktoanalyzethedataontheenterpriseaccountingstatementscannothavesatisfiedtheneedsofthedevelopmentofenterprisesnow.
2Literaturereview
Commonmethodsoffinancialanalysiscanbesummarizedasthreekinds:
DuPontfinancialanalysismethod,economicvalueaddedandbalancedscorecardmethod.DuPontfinancialanalysismethodtheenterprisenetassetsyieldleveldecompositiontotheproductofanumberoffinancialratios,byusingtheinnerrelationshipbetweenfinancialindicators,comprehensivemanagementoftheenterprisefinancialmanagementsystemandtheeconomicbenefitofthisevaluation.Itcanhelpenterprisemanagementmoreclearlyseethedeterminantsofreturnonnetassets,andthesalesnetprofitmarginandtotalassetturnover,thecorrelationrelationshipbetweenthedebtratio,providesaclearoverviewtomanagementwhetherthecompanyassetsmanagementefficiencyandmaximizeshareholderreturnsroadmap.EconomicvalueaddedtheoryinitiallybyMertonmillerandFranco’sdial,twofamouseconomistsputforward.LaterintheUnitedStates,tang,consultingcompanyrealizedthatthismethodistoevaluatethevalueofthecompanyagoodmethod,sothecompanywillsetupthemethodtopromoteworldwide.Economicvalueaddedisthecompany'
soperatingprofitaftertaxandthedifferencebetweenthecostsofcapital;
ittakesintoaccounttheopportunitycostofcapitaleconomicprofits,ratherthanaccountingprofit.Itwillforcethecompanydecision-makershighattentiontothecostofcapital.PutforwardbyRobertKaplan,thebalancedscorecard,whichisbasedonenterprisestrategyastheguidance,throughfinance,customer,operationsandstafffromfouraspectsandperformanceindicatorsofcauseandeffect,comprehensivemanagementandtheenterpriseintegratedperformanceevaluationsystem.Becauseofitsadvancedandhasacertainreliability,sohasbeenthefavorofsomecompanies.Thiskindofevaluationmethodtoevaluatethequalityofpeopletohavecertainrequest,becausethechoiceofevaluationindexneedtorefertothecompanyallaspectsofcharacteristics,inordertofullyreflectthecompany'
sfinancialpositionandoperatingresults.
Inthisincreasinglymature,onthebasisoffinancialanalysismethods,scholarsbegantopayattentiontothesemethodscanbeincorporatedintoacompletefinancialanalysissystem,inordertoformaframestructure,supportfortheenterpriseeconomicoperation.ErichHelfordanalysisframeworkisdividedintointroduction,operationanalysis,investmentanalysis,financinganalysis,valueanalysisseveralpart.Summarizestheenterprisesystem,decisionbackgroundanditsrelationshipwithfinancialstatementsandanalysistools,discussedincludinginvestmentanalysis,capitalcostandfinancingoptions,andstockandenterprisevalueassessment,etc.Elishabasedonthetraditionalfinancialanalysisframework,whichbasedontheanalysisofenterprisedebtpayingability,assetsoperationability,profitabilityanddevelopmentability,addedintosomeoftheindustryanalysisandtheanalysisofcompetitionstrategy.Itincludesbusinessstrategyanalysis,accountinganalysis,financialstatementanalysisandprospectanalysisoffourparts.Themainpointsoftheframeisinthebusinessstrategyanalysisunderthepremiseofaccountinganalysis,financialanalysisandprospectanalysis,showsthatitisinamacroviewmoreopenorderdetailanalysis,notonlydodetailanalysis.ClydePtofinancialanalysisframeworkisdividedintothreeparts,thefirstpartofthefinancialaccountingenvironment,theanalysisofthedataandtherelationshipbetweentheenterprisesthemainactivities,etc;
Thesecondpartofaccountinganalysis,fromthegenerallyacceptedaccountingprinciples,analysistheconnotationoftheaccountingitemandquality;
Thethirdpartoffinancialanalysis,namelyfromtheprofitability,risk,predictionandevaluationofenterprisefinancialpositionandoperatingresultsareanalyzed.
3Harvardtheoryanalysisframeworks
3.1Strategicanalysis
Strategicanalysisisthelogicalstartingpointoffinancialstatementanalysis,isalsoaHarvardanalysisframeworkandotherdifferentpartsofthefinancialanalysis.Financialstatementanalysisisthroughthestrategyanalysistothebusinessactivitiesofenterprisesqualitativeanalysisofitseconomicsignificance,butalsotoaccountinganalysisandfinancialanalysisforprovidingrealisticbackground.Itsmainfromtheindustryanalysisandcompetitivestrategyanalysisofthetwosidesisanalyzed.Canmakeuseofporterfiveanalysis,industryanalysistoanalyzetheprofitabilityoftheindustry,byanalyzingtheexistingandpotentialcompetitiveness,andnegotiationability,inthebuyingandsellingmarketforinvestorstothedataanalysisoftheindustryhasanoverallgrasp.Throughtheanalysisoftheindustrydevelopmentstage,theindustrytechnologicalchangespeed,theproductdifferenceandintegration,thebuyerthesellernumberandrelativesize,industrymarketboundaries,totalmarketandgrowthprospects,suchasanalysis,canseethenatureoftheindustryanditsstatusandroleinthenationaleconomy.Sometimes,accordingtothecharacteristicsofdifferentindustrylifecycleforanalysis.Mustanalysistheenterprisecompetitionstrategyanalysisthecharacteristicsoftheindustryandcompetitivenessproblems.Chooseattractivestrongindustryispartofbusinesssuccess,however,therealkeytothesuccessorfailureoftheenterpriseistheenterprisetheselectedcostleadershipstrategyordifferentiationstrategyenforcementofwhethertomakeadifference.Costadvantagesincludingatalowercosttoprovidethe
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 哈佛 分析 框架 企业财务 外文 文献 翻译