旅游企业的高速成长是旅游产业转型升级与集约化发展的基础,对旅游上市公司进行成长性评价研究,有利于洞察旅游产业化发展的基础态势。本文基于突变级数法,利用财务信息,从发展能力、盈利能力、资产运营能力和现金实力4个方面构建成长性评价体系,对17家旅游上市公司2006~2008年间的成长性进行了排序和评价,并从4个方面出发讨论旅游上市公司成长过程中的规律。结果显示:我国旅游上市公司中,景点类成长性最佳,综合类次之,酒店类最差;景点类的发展、盈利、资产运营和现金实力发展均衡,综合类现金实力偏弱,酒店类资产运营能力较差;各类成长性良好的旅游上市公司,都在坚守主业的同时向旅游业其他领域延伸。
The rapid growth of tourism enterprises is the basis of transitional upgrade and intensive development of tourism industries.Study on the evaluation of the growth of tourism listed companies is conducive to an insight into the basic situation of tourism industrial development.Based on sudden change progression and financial information,the paper tries to build a growth evaluation system ranging from capabilities of growth,profit earning,asset operation to cash strength.The growth of 17 tisted companies during 2006 ~ 2008 is ranked and evaluated and the growth regulation of tourism listed companies is discussed regarding the above four aspects.The results show that among China's tourism listed companies,the type of scenic spots is the best,follwed by comprenhesive type and hotel type is the worst.The type of scenic spots enjoys a balanced development in growth,profits,asset operation and cash strength whereas the comprehendsive type is weak in cash strength and hotel type is pretty bad in the operational capability of asset.Those tourism listed companies with sound growth are being extended to other fields of tourism Industry while sticking to the main business.