基于财务视角的上市百货公司竞争力评价实证研究

Empirical Study on Evaluation of Competitiveness of Listed Department Stores from Financial Perspective

中文关键词:  零售业  上市百货公司  竞争力  并购重组  多业态

英文关键词:retail industry  listed department store  competitiveness  merger & acquisition  multi-format

中文摘要:

      通过三次因子分析，从销售增长能力、规模实力、资产增长能力、盈利能力和偿债能力等五个方面对16家上市百货公司的竞争力做了客观性评价。根据三次因子分析后的排名变化，得出影响百货公司竞争力的结论：销售增长能力比资产增长能力更重要；盈利能力与销售增长能力要协调发展；加强偿债能力保持企业稳步增长。在此基础上，提出了增强百货公司竞争力的建议：竞争力应来自于区域内的做大做强；多业态混合发展促进竞争力的提升；处理好自购物业和对外扩张的协调发展。

英文摘要:

      By using the method of triple factor analysis, this paper conducts an objective evaluation on the competitiveness of 16 listed department stores from five aspects including sale growth ability, scale strength, assets growth ability, profitability and debt paying ability. Based on the change in competitiveness ranking, the conclusions are drawn as the following: sale growth ability is more important than assets growth ability, profitability should be coordinated with sale growth ability and debt paying ability underlies the stable development of an enterprise. Based on the above conclusions, suggestions are proposed to strengthen the competitiveness of department stores: competitiveness derives from a bigger and stronger development within the region, multi-format mixed operation will improve the competitiveness, and self-purchase property and external expansion must be harmoniously handled.