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Jul.2005,Volume2,No.7(SerialNo.8)JournalofUS-ChinaPublicAdministration,ISSN1548-6591,USA31*********************25(Joseph1979:69-74;Harrison1977:467-482)12*67886-2-8674667202-86715911E-mail:jennkuo@mail.ntpu.edu.tw.**886-2-29387311E-mail:lod@nccu.edu.tw.***886-2-29387450E-mail:steve@nccu.edu.tw.****886-2-29387310E-mail:lifang@nccu.edu.tw.*****886-2-28757460E-mail:tjchen@vghtpe.gov.tw.******886-2-23375426E-mail:lemonjoy@mail2000.com.tw.1232(relevance)(reliability)(comparability)(consistency)(2000200220001999)(Cleverley1985:81-88CaruanaandMcHugh1980:12-18)(OzcanandMcCue1996:18-26;Kuoetal.2003)2525(liquidity)(leverage(capitalstructure))(profitability)(efficiency)(marketvalue)(Choate1974:49-57;Cleverley1985:29-37;VanHormne1974)3Beaver(1966:71-111)/(cashflowtototaldebt)333(bankruptcy)51///(Altman1968:589-609)/(cashflowtodebt)/(netincometototalasset)(Beaver1978:71-111)(returnonassets)(stabilityofearning)(debtservicecoverageratios)(cumulativeprofitability)/(equitytoassetsratio)()(AltmanHaldmanandNarayanan1977:29-54)//////(Martin1977:249-276)multiplediscriminateanalysis(Altman1968:589-609;Beaver1978:113-122)logisticregressionmodel(Maritn1977:249-276;Ohlson1980:109-131;CollinsandGreen1982:349-354)stepwisediscriminateanalysis(AltmanHaldmanandNarayanan1977:29-54)Neuralnetwork(DuttaandShekhar1988:443-450;CoatandFant1993:142-155)(predictorvariables)(outcomevariables)(GlandonCounteandHollman1987:439-455)(workingcapitaltototalassets)(networthtototaldebtratio)(currentratio)CleverleyandNilsen(1980:30-36)29(5)4()4(reimbursabledepreciation)()((markup))(viabilityindex)Cleverley(1981)29(longitudinalanalysis)(crosssectionalanalysis)41(longitudinalanalysis)294()6-8LaJollaManagementCorporation(1981)MultivariatediscriminationAnalysis(BureauofHealth)(occupancyrate)CleverleyandNutt(1984:615-637)Cleverley(1985:81-88)(financialflexibleindex)KwonSafranskiandWalker(1988:29-37)stepwisediscriminateanalysis(Catholichospitals)(financialsurplus)34WerteimandLynn(1993:529-546)/=/*/1212LynchandOzcan(1994:205-525)(Hirschman-HerfindahlIndex)MedicareMedicaidLynchandOzcan(1994:205-220)(dataenvelopmentanalysis)GardinerOswaldandJahera(1996:441-460)/Medicaid4MedicareMedicaidMedicaid(returnoninvestment)(returnoninvestedcapital)(totaloperatingprofit)(costperadjustedadmission)(revenueperadjustedadmission)CleverleyandHarvey(1992:27-33)(ruralhospital)=+/MedicareMedicaidLangabeer(1998:512-525)(teachinghospitals)4Mulleretal.,(1982:699-709)Longo,andGary(1984:)Muller,andMcNeil(1986:131-141)Mayeretal.,(1987:327-334)Mulleretal.,(1989:315-325)Williamsetal.,(1992:174-187)35returnoninvestedcapitalROIC=/(competitivestrategy)Medicare(marketenvironment)(academicinfluence)1999(1993-19944)(1996-1997)Chanetal.(1999:9-31)(ruralhospitalconsortia)(totaloperatingprofit)(costperadjustedadmission)(revenueperadjustedadmission)45TennysnandFottler(2000:29-50)(nationalsystem)25515Zelleretal.,(1996:161-182)Counteetal.,(1988:173-180)Cleverley,andRohleder(1985:81-88)(20002001)36(liquidityratio)()(currentratio;CR)(quickratio;QR)(averagepaymentperiod;APP)(collectionperiod;CP)(day'ssalesinreceivables;DAR)(dayscashonhand;DCH)(capitalstructure)(equityfinancing;EF)(fixedassetfinancing;FAF)(cost-reimbursed)(long-termdebttoequity;LTDE)(permanentcapital)(timesinterestearned:TIE)(activityratioorefficiencyratio)(totalassetturnover;TATO)(fixedassetturnover:FATO)(currentassetturnover;CATO)37(capitalexpenditure:CE)(profitabilityratio)(returnonasset;ROA)(returnonequity;ROE)(returnoninvestment;ROI)(totalprofitmargins;TMAR)(operatingmargins;OMAR)(mark-up)1(deductible)()(totalexpensetototalrevenue;TETR)(operatingexpensetooperatingrevenue;OEOR)(mark-up)(growthrateinequity;GRIE)(nonoperationgains;NONOG)(depreciationrate:DEPR)(averageageofplant;AAP)(capitalexpendituregrowthrate;CEGR)38KwonSafranskiandWalker(1988)1997-2000361.2.3.4.5.30231997-2000199919995+a10%b10%19991999419996545()39(20001997)()()1999420001997199920001997251.2.4012000.22001.32000.41999.1Altman,E.(1968)FinancialRatios,DiscriminateAnalysisandthePredictionofCorporateBankruptcy.JournalofFinance,23:589-609.2Altman,E.,R.HaldemanandNarayanan,P.(1977)ZETAAnalysis:ANewModeltoIdentityBankruptcy.JournalofBankingandFinance,1:29-54.3Beaver,W.(1966)FinancialRatiosasPredictorsofFailure.EmpiricalResearchinAccounting:selectedstudied1966,JournalofAccountingResearch4(Supplement):71-111.4Beaver,W.(1978)AlternativeAccountingMeasuresasPredictorofFailure.AccountingReview,43:113-122.5Caruana,R.andMcHugh,E.T.(1980)Comparingratiosshowsfiscaltrends.HospitalFinancialManagement,12:12-18.6Choate,G.(1974)FinancialRatioAnalyses.HospitalProgress67:49-57.7Chan,B.,Feldman,R.andManning,W.G.(1999)TheEffectofGroupSizeandGroupEconomicFactorsonCollaboration:AStudyoftheFinancialPerformanceofRuralHospitalsinConsortia.HealthServiceResearch34:9-31.8Cleverley,W.O.(1981)FinancialRatios:SummaryIndicatorsforManagementDecision-making.HospitalandHealthServicesAdministration26:26-47.9Cleverley,W.O.(1985)redictingHospitalFailurewiththeFinancialFlexibilityIndex.HealthcareFinancialManagement
本文标题:非营利医院财务比率分析:管理决策之财务资讯
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