张洁;邱爽;王孟璇;

• 1:云南民族大学管理学院

摘要：

盈利能力是体现一个企业实力的核心，对企业实现战略目标意义重大。文章以厨电行业主要上市公司为研究对象，借助盈利能力分析框架战略制定部分从市场战略、业务战略和投资战略三个部分选取相关因素对企业盈利能力进行量化分析，并提取厨电行业上市公司盈利能力的影响因子，组成新变量，对新变量进行回归拟合，再通过逐步回归法筛选出影响企业盈利能力的最优组合进行分析，以得出对盈利能力影响最大的因素。研究发现，Operational cost、Service fee和Sales cost均与Roe显著负相关，即企业在生产、售后服务和销售方面的成本越高，企业的净资产收益率就越低，盈利能力就越弱；Fixed与Roe显著正相关，即企业固定资产周转率越快，资产的利用效率就越好，企业的盈利能力就越强。最后提出提升盈利能力的建议。

关键词： 盈利能力;因子分析法;盈利能力分析框架

Abstract: Profitability is the core of an enterprise's strength, and it is of great significance for the enterprise to achieve its strategic objectives. This article takes the main listed companies in the kitchen appliances industry as the research object, and uses the profitability analysis framework strategy formulation section to select relevant factors from three parts: market strategy, business strategy, and investment strategy to conduct a quantitative analysis of the enterprise's profitability. It extracts the influencing factors of the profitability of listed companies in the kitchen appliances industry, constitutes a new variable, and performs regression fitting on the new variable, Then, through the stepwise regression method, the optimal combination that affects the profitability of the enterprise is selected and analyzed to obtain the factors that have the greatest impact on profitability. The research finds that operational cost,service fee and sales cost are significantly negatively correlated with Roe, that is, the higher the cost of production, after-sales service and sales, the lower the net return on assets of the enterprise, and the weaker the profitability; Fixed and Roe show a significant positive correlation, that is, the faster the turnover rate of fixed assets of enterprises is, the better the utilization efficiency of assets will be, and the stronger the profitability of enterprises will be. Finally, suggestions for improving profitability are proposed.

Keywords: profitability;factor analysis method;profitability analysis framework

基金项目: 云南省教育厅项目：减税降费政策背景下云南企业创新激励效果研究阶段性成果（2021J0618）

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