Ⅰ 財務報表分析論文參考文獻
你好！！！
[參考文獻]
[1]公司財務報告與分析.北京:財經出版社.
[2]財務報表分析.大連:經濟科學出版社.
Ⅱ 請高手幫找一篇財務報表分析（financial statement analysis）的外文論文，並幫忙翻譯一下，謝謝
Fundamental analysis of a business involves analyzing its financial statements and health, its management and competitive advantages, and its competitors and markets. The term is used to distinguish such analysis from other types of investment analysis, such as quantitative analysis and technical analysis.
Fundamental analysis is performed on historical and present data, but with the goal of making financial forecasts. There are several possible objectives:
* to conct a company stock valuation and predict its probable price evolution,
* to make projection on its business performance,
* to evaluate its management and make internal business decisions,
* to calculate its credit risk.
Two analytical models
When the objective of the analysis is to determine what stock to buy and at what price, there are two basic methodologies.
1. Fundamental analysis maintains that markets may misprice a security in the short run but that the "correct" price will eventually be reached. Profits can be made by trading the mispriced security and then waiting for the market to recognize its "mistake" and reprice the security.
1. Technical analysis maintains that all information is reflected already in the stock price, so fundamental analysis is a waste of time. Trends 'are your friend' and sentiment changes predate and predict trend changes. Investors' emotional responses to price movements lead to recognizable price chart patterns. Technical analysis does not care what the 'value' of a stock is. Their price predictions are only extrapolations from historical price patterns.
Investors can use both these different but somewhat complementary methods for stock picking. Many fundamental investors use technicals for deciding entry and exit points. Many technical investors use fundamentals to limit their universe of possible stock to 'good' companies.
The choice of stock analysis is determined by the investor's belief in the different paradigms for "how the stock market works". See the discussions at efficient market hypothesis, random walk hypothesis, Capital Asset Pricing Model, Fed model Theory of Equity Valuation, Market-based valuation, and Behavioral finance.
Use by different portfolio styles
Investors may use fundamental analysis within different portfolio management styles.
* Buy and hold investors believe that latching onto good businesses allows the investor's asset to grow with the business. Fundamental analysis lets them find 'good' companies, so they lower their risk and probability of wipe-out.
* Managers may use fundamental analysis to correctly value 'good' and 'bad' companies. Even 'bad' companies' stock goes up and down, creating opportunities for profits.
* Contrarian investors distinguish "in the short run, the market is a voting machine, not a weighing machine"[1]. Fundamental analysis allows you to make your own decision on value, and ignore the market.
* Value investors restrict their attention to under-valued companies, believing that 'it's hard to fall out of a ditch'. The value comes from fundamental analysis.
* Managers may use fundamental analysis to determine future growth rates for buying high priced growth stocks.
* Managers may also include fundamental factors along with technical factors into computer models (quantitative analysis).
Top-down and Bottom-up
Investors can use either a top-down or bottom-up approach.
* The top-down investor starts his analysis with global economics, including both international and national economic indicators, such as GDP growth rates, inflation, interest rates, exchange rates, proctivity, and energy prices. He narrows his search down to regional/instry analysis of total sales, price levels, the effects of competing procts, foreign competition, and entry or exit from the instry. Only then does he narrow his search to the best business in that area.
* The bottom-up investor starts with specific businesses, regardless of their instry/region.
Proceres
The analysis of a business' health starts with financial statement analysis that includes ratios. It looks at dividends paid, operating cash flow, new equity issues and capital financing. The earnings estimates and growth rate projections published widely by Thomson Financial and others can be considered either 'fundamental' (they are facts) or 'technical' (they are investor sentiment) based on your perception of their validity.
The determined growth rates (of income and cash) and risk levels (to determine the discount rate) are used in various valuation models. The foremost is the discounted cash flow model, which calculates the present value of the future
* dividends received by the investor, along with the eventual sale price. (Gordon model)
* earnings of the company, or
* cash flows of the company.
The simple model commonly used is the Price/Earnings ratio. Implicit in this model of a perpetual annuity (Time value of money) is that the 'flip' of the P/E is the discount rate appropriate to the risk of the business. The multiple accepted is adjusted for expected growth (that is not built into the model).
Growth estimates are incorporated into the PEG ratio but the math does not hold up to analysis.[neutrality disputed] Its validity depends on the length of time you think the growth will continue.
Computer modelling of stock prices has now replaced much of the subjective interpretation of fundamental data (along with technical data) in the instry. Since about year 2000, with the power of computers to crunch vast quantities of data, a new career has been invented. At some funds (called Quant Funds) the manager's decisions have been replaced by proprietary mathematical models.[2]
Criticisms
* Some economists such as Burton Malkiel suggest that neither fundamental analysis nor technical analysis is useful in outperforming the markets[3]
Ⅲ 關於企業財務分析的相關英文參考文獻
1、Christian Gollier. Discounting an uncertain future .Journal of Public Economics, 2002
2、LEBAS MICHEL,EUSKE KEN. A Conceptual and Operational Delineation of Performance .Business Performance Measurement Theory and Practice. 2002, :89-93 .
3、 Charles T.Horngren.Introction to Management Accounting.Prentice Hall.1998
Ⅳ 企業財務分析報表的參考文獻
建議ＣＮＫＩ找下就成 [1] 沙潔. 企業財務報表分析[J]. 財會研究 , 2004,(10) . [2] 石玉華 ,沈斌 ,劉廣麗. 試論企業財務報表分析的局限性及對策[J]. 統計與咨詢 , 2004,(04) . [3] 鄭雷. 企業財務報表分析的局限性[J]. 大眾科技 , 2004,(03) . [4] 朱紅. 財務報表分析的實例演示[J]. 水運管理 , 2004,(09) . [5] 王冰. 淺析企業財務報表分析[J]. 山西統計 , 2003,(12) . [6] 李雪梅. 淺議財務報表分析[J]. 遼寧經濟職業技術學院.遼寧經濟管理幹部學院學報 , 2004,(04) . [7] 徐潔. 淺談企業財務報表分析[J]. 內蒙古科技與經濟 , 2005,(06) . [8] 石裕祥. 財務報表分析應注意的問題[J]. 財會通訊 , 2003,(09) . [9] 戴小紅,黃凌雲,劉春泉. 利用財務報表分析企業經營業績的幾點認識[J]. 農業科研經濟管理 , 2004,(03) . [10] 王廣斌. 上市公司財務報表分析的基本原理與方法[J]. 山西高等學校社會科學學報 , 2004,(10) . [1] 池俊華,於揚. 上市公司財務狀況綜合評價指標體系的構建[J]哈爾濱市委黨校學報 , 2002,(03) . [2] 易曉文,陳健芬. 上市公司財務狀況綜合評價指標試系的構建[J]遼寧財專學報 , 1999,(01) . [3] 張福康. 對上市公司獲利能力及穩定性指標的分析與評價[J]甘肅省經濟管理幹部學院學報 , 2003,(01) . [4] 劉曉梅. 知識經濟條件下企業考核指標體系的思考[J]東北財經大學學報 , 2001,(01) . [5] 曲永崗,黃健元. 基於模糊優選模型的水運企業績效綜合評價[J]港工技術 , 2003,(01) . [6] 董明志. 關於企業盈利能力評價指標的改進[J]財會月刊 , 2000,(12) . [7] 杜鵬. 上市公司市場價值評價分析[J]工業技術經濟 , 2002,(04) . [8] 汪強. 資本結構與上市公司盈利能力——家電行業的實證分析[J]北方經貿 , 2004,(06) .
Ⅳ 財務分析報告的參考文獻有哪些啊
[1]孫勇來.探討如何從企業財務管自理中進行成本控制.經營管理者[J].2011，02
[2]周璟.對企業財務報表分析的若干思考.中小企業管理與科技[J].2011，04
[3]宋寶.基於上市公司合並財務報表的邏輯框架分析———以青島海爾為例.財會通訊[J].2010，07
[4]王趙亮.完善我國財務報表分析的思考.中國管理信息化[J]2011，04
[5]羅京媛. 淺析新企業會計准則下的財務報表分析[J]. 2011,01
[6] 李爭光.陳桂紅.會計報表分析指標體系改進研究[J].2011,02
[7] 吳革.財務報告舞弊特徵研究的實證發現.文獻綜述與評論.財會通訊[J]2009，01
[8] 張先治.基於管理者決策與控制的財務分析一企業內部報告的財務分析應用.《財會月刊》［M］2010,03
Ⅵ 財務報表分析參考文獻有哪些
建議CNKI找下就成[1]沙潔.企業財務報表分析[J].財會研究,2004,(10).[2]石玉華,沈斌,劉廣麗.試論企業財務報內表分析的局限性容及對策[J].統計與咨詢,2004,(04).[3]鄭雷.企業財務報表分析的局限性[J].大眾科技,2004,(03).[4]
Ⅶ 關於財務報表分析的英文版參考文獻
Richard Loth. Select Winning Stocks Using Financial Statements. Dearborn Financial Publishing, 1999
Ⅷ 論文求書：xx公司財務報表分析和財務預警（參考文獻）
我也要，有的話可以順便傳給我
Ⅸ 求 論文 某某公司的財務報表分析 的外文 參考文獻 以及 兩專著參考文獻
你打開萬方數據、維普資訊就可以查到。實在寫不到，去那個（諸葛文庫）看下，我去年的外文文獻在那你代找的