中國上市公司流動性風(fēng)險測量研究.pdf

1、浙江大學(xué)經(jīng)濟學(xué)院碩士學(xué)位論文中國上市公司流動性風(fēng)險測量研究姓名：徐秀渠申請學(xué)位級別：碩士專業(yè)：金融學(xué)指導(dǎo)教師：徐加20100305AbstractIn2007thesubprimemortgagecrisisofthefinancialsectorbrokeoutintheUnitedStatesCurrentlythemanagementofliquidassetsbecamethemostconcernedissueofthecom

2、mercialandinvestmentbanks霹把BaselCommitteeonBankingSupervisionhasmadeamajoradjustmentofitsSoundPracticesforManagingLiquidityinBankingOrganizationsof2000andhaspublishedPrinciplesforSound“唾uidityRiskManagementandSupervision

3、inJune2008。Subprimemortgagecrisisin2008transferredt0entitiesintheeconomiccrisisSubprimemortgagecrisiscallbeseentOhaveimpactedthe‘overalleconomyBeginningfromthegreatfallofthestockmarketinthelate1980s，theproblemofthegovern

4、anceofliquidityriskmanagementhadbeenputontheagendaInrecentyears，particularlyin2007，thegovernanceofliquidityriskhasbecomeafocalpointHowtomanageliquidityriskhasbecomethemostpopularresearchtopic。Buttherealenotmanyresearches

5、incorporateliquidityriskTherefore，weshouldstudycorporateliquidityriskinthemethodsofmeasurementtoanalysistheevolutionofcharacteristicsandinfluencingfactorsofliquidityrisk，andapplyittothemanagementofliquidityriskInthispape

6、rtheauthorhasoptedtOempiricalanalysismethodandusedthe‘liquidityratioasamethodofmeasuringliquidityriskAllthesearebasedontheresearchresultsofsomescholarsWeselectedfinancialdatain2008of1373nonfinancial’servicesindustryofast

7、edcompaniesinChinaandanalyzed15financialindicatorsthatCanreflectthecorporateliquidityriskbyusingfactoranalysisandclusteranalysismethodWeselect9indicatorstomeasllrebusinessliquidityriskthroughoutfactoranalysismethodandclu

8、steranalysis。AfterthecompositescorebyfactorandclusteranalysisofliquidityriskindifferentsectorstOmakejudgments，theauthorsgotthefollowingconclusions：(1)9indicatorsofconcerncanbeusedinmeasuringliquidityrisknamelyQuickratio，

9、LiquidityCoverageratios，Due＆醚ratioincashRatioofcashtototaldebt。RatioofcurrentliabilitiestotOtaldebtAccountspayableturnoverratio，Averagereceivablesturnoverratio，Inventoryturnoverratio，Capitalexpenditurecapacitytop鑫舅G)Inth