【作者】 于宏民；

【导师】 王青；

【作者基本信息】 东北大学 ， 资源信息与决策， 2009， 博士

【摘要】 实现可持续发展是未来人类经济发展的大势所趋,对于工业企业可持续发展的研究是目前理论及学术研究的前沿及重点课题。钢铁工业是国民经济的重要基础产业,是我国工业体系的重要组成部分。随着国内固定资产投资增长和汽车、房地产、装备制造业等主导产业的高速发展,全社会对钢铁产品的需求将在相当长时间内保持在较高水平上,然而钢铁企业又是高能耗、高污染的企业,在钢铁工业快速发展的过程中,绝不能走以大量消耗资源和严重污染环境、破坏生态环境为代价的传统工业化道路。对钢铁工业可持续发展的研究具有重要的理论及现实意义。在此同时,金融市场的重要功能之一就是促进资本资源的合理分配,即通过对资金流向的引导对资源配置发挥导向性作用。金融市场特别是直接融资市场由于存在强大的评价、选择和监督机制,因而会促使资金流向高效益部门,表现出资源优化配置的功能。在本文的研究中,创造性地将钢铁企业的可持续发展评价及生态效率问题与金融市场的资源配置问题有机联合起来,不仅有助于促进钢铁企业本身资源及能源效率的提高,实现可持续发展,更有利于金融市场资源配置功能的进一步完善与科学,对于金融市场本身的发展也具有显著的促进作用。论文主要包括以下几个方面的内容。第一,详细论述了可持续发展问题时代背景及发展趋势,探讨了工业企业特别是钢铁企业可持续发展的影响因素及面临的主要问题。指出工业生态学这一新兴学科是促进工业企业实现可持续发展的重要工具,并对工业生态学的理论框架进行了剖析。另外,分析了政府在促进企业可持续发展中的职能和作用。第二,对现行企业上市融资准入条件及评价方法进行了较为系统的分析。指出在现行的核准制下,建立起一套反映企业资源与能源使用效率的融资指标评价指标体系是十分必要的。第三,详尽分析了钢铁行业的物质代谢及生产工艺流程。分别选择直接生态效率、基于MIPS的资源效率及基于生态足迹的环境效率等三种方法对我国钢铁行业的资源、能源和环境状况进行了比较研究,得出了一系列重要结论:我国钢铁行业的资源效率、能源效率及环境效率都在不断提高中,其中水资源的利用效率及环境效率提高最快;我国钢铁行业的非生物资源、水资源及空气资源的MIT值都明显呈下降趋势,但由于近年来产能迅速扩大,造成MI值大幅度上升,对环境的总体冲击在不断加大。能源用地在钢铁行业生态占用中处于绝对地位,对自然环境有着巨大的冲击,降低能耗是减轻钢铁企业生态足迹的限制性环节。第四,在对钢铁企业可持续发展构成要素进行系统分析的基础上,建立起一套基于生态效率的钢铁企业可持续发展评价体系,该指标评价体系涉及钢铁企业的技术创新能力、资源利用能力、经营能力及环境保护能力等四个方面,共包括32项指标。利用ANP方法计算出评价体系各指标的权重。结果显示,经营能力对钢铁企业可持续发展的贡献度最大,其它方面贡献度由大至小依次为环保能力、创新能力及资源利用能力。若将该体系用于钢铁企业上市融资评价方面,将改变现行企业上市融资标准缺乏对生态效率考察的现状,有助于促进已上市钢铁公司可持续发展能力的整体提高。第五,利用所建立的钢铁企业上市融资评价体系,分别从给定基准值及经营效率的角度对我国钢铁行业上市公司融资评估进行了实证研究。结果表明,如果企业的技术创新能力及资源利用能力较低,即使经营能力很强,也将不符合上市条件;同时,如果以本文所建立的经营能力可持续发展指标考察已上市的钢铁企业,在上市时有相当一部分将不符合上市条件。实证研究结果充分证明了本文所建立的上市融资评价体系是对目前企业上市融资审核体系的有益补充。更多还原

【Abstract】 The realization of sustainable development is a general trend for econonic development in future, and the research on sustainable development of industrial enterprise is currently at the frontier and a key project to theoretical and academic research. Iron and steel industry is an important fundamental industry of national economy, and is an integral part of the industrial system in China. With the growth of fixed assets investment and the rapid development of dominant industries as automobile, real estate, equipment manufacturing industry, etc in China, the demands from society on iron and steel products maintain a high growth rate over a long term, however, the iron and steel enterprises are highly energy-consuming and highly contaminating, and the traditional industrialized road with the cost of large amount of resource consumptions, severe environmental pollution, and destroying of ecological environment shall be strictly prohibited in the process of rapidly developing iron and steel industry. The research on sustainable development of iron and steel industry has important theoretical and realistic significances. Meanwhile, one of the important functions of financial market is to accelerate the rational allocation of capital resources, that is, to exert the directing function on resource allocation through guiding the capital flow. Because the financial market, particularly the direct financing market is equipped with a strong appraisal, selection and supervision mechanism, the capital flow is attracted to the departments with high profits, thus the function of optimized resource allocation is indicated.The research in the thesis creatively and organically combines the comments on sustainable development of iron and steel enterprises, the eco-efficiency issues and the resource allocation issues of financial market, which is not only conducive to accelerate the improvement of resources and energy efficiency of iron and steel enterprises, and to realize sustainable development, is but also more beneficial to the further perfection and scientific of resource allocation function of financial market, and is evidently accelerative to the development of financial market itself. The thesis mainly consists of the following several parts.First, the historical background and development trend of sustainable development is discussed in details, and the influential factors and major problems encountered to the sustainable development of industrial enterprises, particularly the iron and steel enterprises are explored. It’s pointed out the new subject of industrial ecology is an important tool of accelerating the realization of sustainable development by industrial enterprises, and the theoretical framework of industrial ecology is analyzed. In addition, the functions and effects of government in accelerating the sustainable development of enterprises are analyzed. Second, a systematic analysis is made on the admittance qualifications and appraisal methods on listing financing of the existing enterprises. It’s put forward that it’s very necessary to establish a set of financing index appraisal system to reflect the resource and energy application efficiency of enterprises under the existing approval system.Third, the material metabolism and manufacturing process flow of iron and steel industry is analyzed in details. Three methods as direct eco-efficiency, resource efficiency based on MIPS and environmental efficiency based on ecological footprint are respectively selected to have comparative study on the current situation of resource, energy and environment of Chinese iron and steel industry, and a series of important conclusions are made: the resource efficiency, energy efficiency and environmental efficiency of the Chinese iron and steel industry are being continuously improved, and the utilization efficiency and environmental efficiency of water resource pose the fastest improvement; all the MIT values of the abiological resource, water resource and air resource in Chinese iron and steel industry are in an obvious decreasing trend, however, because the production capacity is rapidly expanding over recent years, the MI values are increasing by a large margin, and the overall impacts on environment are being constantly enlarged. The energy land use is at a dominant position in iron and steel industry ecology, it has huge impacts on natural environment and reduction of energy consumption is a restrictive link of alleviating the ecological footprint of iron and steel enterprises.Fourth, establish a set of appraisal system on sustainable development of iron and steel enterprises based on eco-efficiency on the basis of analyzing the elements for the sustainable development of steel and iron enterprises, the index appraisal system involves the technical innovation capacity, resource utilization capacity, operation capacity and environmental protection capacity, four aspects of iron and steel enterprises, and totally 32 indexes are included. ANP method is employed to calculate the weights of various indexes in the appraisal system. The results indicate that the operation capacity has the highest contribution degree to the sustainable development of iron and steel enterprises, and the contribution degrees from other aspects are respectively environmental protection capacity, innovation capacity and resource utilization capacity by their priorities. If such a system is employed in listing financing appraisal on iron and steel enterprises, the current situation that the listing financing standard of enterprises is lack of investigations on eco-efficiency, and it’s conducive to accelerate the overall improvement of the sustainable development capacity of listed iron and steel companies.Fifth, case studies on the financing appraisal of listed Chinese iron and steel companies are respectively made from the perspectives of specified base values and operation efficiency by employing the established listing financing appraisal system or iron and steel enterprises. The results indicate that if a company has a very low technical innovation capacity and resource utilization capacity, and it will fail to comply with the listing conditions even if it has a strong operation capacity; meanwhile, provided if the listed iron and steel enterprises are investigated by the sustainable development index of operation capacity established by the thesis, there will be quite a lot fail to meet the listing conditions in listing. The results of case studies have fully proved that the listing financing appraisal system established in the thesis is a beneficial supplement to the current enterprise listing financing approval system.更多还原