杜邦财务分析体系外文文献翻译最新译文11Word格式.docx

1、作者：McGowan J期刊：Accounting and Finance Research 页码：52-63，第 1 卷，第 2 期，2016 年原文AbstractIn order for the companys level of profitability for the correct assessment of financial analysis, have the certain ability is necessary, among them, more applicable to listing Corporation to evaluate the profitabili

2、ty of Du Pont financial analysis system. Financial analysis is not only the historical situation and the present situation analysis of the company also can rely on the analysis of the historical situation and the present situation carries on the forecast to the companys future profitability, so as t

3、o be ableto correctly assess the companys level of profitability. The success and failure of a company have great relationship with the companys financial level, while the companys financial level can be reflected by the results of the financial analysis.Key Words：DuPont financial analysis System; P

4、rofitability; ROE 1 IntroductionNow the trend of globalization is unstoppable, and this makes the competition between enterprises is torn, it also increased the financial crisis and the degree of operating risk. Financial statements reflect the enterprises financial position and operating results of

5、 a form, it is provided by the accounting entity. Enterprise personnel through financial statements reflect the real situation, use financial methods for serious analysis, accurate calculation, gradual decomposition and in-depth research, so that you can know the comprehensive ability of the enterpr

6、ise, can know how companies can afford to pay the amount of how much power to keep normal operation of enterprises and profit. Enterprise yield strength is its profitability, and profitability is the real reflection of enterprise operating performance good or bad. The profitability of the relationsh

7、ip between the enterprise managers, creditors and the interests of the shareholders, so their attention to profit is very high, they always paid close attention to the trend of the economy, and in a timely manner to make accurate analysis and forecast the future situation. So, the enterprise managem

8、ents main goal is to improve the profitability ofenterprises. Because enterprises business performance is depend on the profitability of the company related indicators reflect the real, the business operators through the analysis of profitability, can timely to correct some problems in the operation

9、 and management and make reasonable plan.We analyze the financial statements there are so many ways, comparison analysis, the main financial ratio method, trend analysis and factor analysis method. But the effect of these methods is limited, so it cant to enterprises financial position and operating

10、 results fully reflected, can only reflect one aspect. So, you need a comprehensivefinancial indicators on the financial condition of enterprises are an integral part of the report, at the same time also must combine various related indicators, and then using a certain method to enterprises financia

11、l position and operating results to conduct a comprehensive in-depth research, and the specific method is comprehensive analysis method.2 Literature reviewIn 1919, the United States DuPont, Pierre DuPont （Pierre DuPont） and Donaldson Brown （Donaldson Brown） set out the DuPont financial analysis Syst

12、em （DuPont System）, the System is based on net assets yield index, in part by part of decomposition, finally to realize the organic combination of financial analysis indicators. Return on equity index is the core of DuPont financial analysis system, sales net profit multiplied by the total assets tu

13、rnover and the rights and interests is the result of the return on equity, with from top to bottom of key index decomposition, the companys profit ability, operation ability, debt payments and other financial association between more clearly, it is widely used in the actual assessment, but actually

14、very few foreign scholars studied it, let alone to improve its methods, to perfect its theory and practice and research on it, it is a handful. Palmers office at Harvard University in the United States, and in the analysis and evaluation for enterprises puts forward the sustainable growth rate, and

15、use it as a deformation of DuPont financial analysis system and complementary, build the palmers financial analysis system .This process is layers of decomposition process of financial indicators, this analysis method is actually one more consideration for dividendpayment rate, but there is no big effect. Alex Kane is a professor at the university of California, bode is a professor at the university of Boston, they jointly at Boston college Alan j. Marcus （Alan j. Marcus） （2003）, a professor at the essence of the investment of t