| Similar financial models： Are they free lunches？ |
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| 作者姓名： | WANG Dong-mei |
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| 作者单位： | Management School, The Graduate University of Chinese Academy of Sciences, Beijing 100190, China |
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| 基金项目： | This article is supported by the 2008 President Fund of the Graduate University of Chinese Academy of Sciences ＂Negative working capital management＂ （No. 085102HN00） and a corporate Project ＂Working capital management in electronic and electrical appliances industry＂ （No. 0841065G02）. |
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| 摘 要： | In recent years, the academic and practical circles have paid so much attention to similar financial models because they generated a miracle in GOME （Gome Electrical Appliances Holding Limited） and SUNING （Suning Appliance Co., Ltd.） respectively. But what＇s the influence of such a model on corporate profitability and risk？ Are similar financial models free lunches？ To seek for the answers to the above questions, in this paper, we take Gree （GREE Electric Appliances, Inc. of Zhuhai）, Midea （Guangdong Midea Electric Appliances Co. Ltd. Stores） and GOME for examples to carry out a comprehensive and in depth financial analysis. The conclusions of this paper are： The company with similar financial characteristics has higher profitability and risk level; Only the companies which meet special requirements need or can implement such a model and the identification and control of hidden risk can guarantee its success.
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| 关 键 词： | 财务模型 午餐 免费 相似 盈利能力 风险水平 财务分析 风险控制 |
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