中国房地产公司盈利质量分析__以SOHO中国有限公司为例论文.doc

┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ 装 ┊ ┊ ┊ ┊ ┊ 订 ┊ ┊ ┊ ┊ ┊ 线 ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ ┊ 毕业设计（论文）报告纸 第 PAGE 103 页 共 NUMPAGES 32 页 中国房地产公司盈利质量分析 以SOHO中国有限公司为例 【摘要】投资者作出决策依赖于会计信息的真实性与可靠性，而盈利质量的高低作为评价会计信息的标准之一不可或缺。近年来财务欺诈事件的出现大大动摇了投资者信心，使得投资者对上市公司披露的财务报告的真实性产生了质疑，同时也使人们越来越关注上市公司的盈利来源及其质量好坏。盈利质量的研究和分析不仅有利于投资者和债权人做出经济决策，还有利于我国资本市场的快速健康发展，规范上市公司秩序，提高市场资源配置效率。 本文以房地产业的上市公司为研究对象，根据高盈利质量所具有盈利持续性、稳定性及高现金保障，选用了四个财务比率对20家上市公司的盈利质量进行比较，并详细分析了SOHO中国有限公司的盈利质量，得出了盈利稳定性和持续性的分析必须与盈利结构分析相结合，才能较为准确和客观的对企业的盈利质量好坏做出判断，而不是单独看盈利变化趋势。同时本文还对影响盈利质量的其他因素进行了分析，认为该行业的内部控制有待趋于完善，企业应加强其社会责任感来避免产生可能对企业盈利的持续与稳定产生较大的影响的事件。 【关键词】 盈利质量、房地产上市公司、财务比率 Earnings Quality Analysis of Listed Companies in Realty Industry —To SOHO China As An Example 09Business administration(Accounting) Name: Haoran Pan Student ID: 091679 Supervisor: Zhonghui Shen 【Abstract】The authenticity and reliability of accounting information is the foundation for investors to make decisions. As one of the essential indicators of accounting information, earnings quality is indispensable. In recent years, the emergence of financial fraud has shaken the confidence of investors, making investors doubt about the authenticity of financial reports of listed companies. And it has also raised concerns about the sources and quality of profit of listed companies. The study and analysis of earnings quality can not only help investors and creditors make economic decisions, but also benefit the rapid and healthy development of Chinese capital market. Moreover, it can standardize the order of listed companies, and improve market efficiency of resource allocation. In this paper, the listed companies of Realty Industry are studying subject. And according to the characteristics of high earnings quality, which are sustainability, stability and high cash protection, I choose four financial rations to compare the earnings quality of 20 listed companies. Moreover, the paper also detailed analyzes the earnings quality of SOHO China Co., Ltd., and obta