近年来,上市公司平均盈利能力和水平呈现出一种逐年下降的趋势。从上市公司的年报中我们可以清楚地观察到,每股平均利润一年比一年低,股东权益的回报率也一年不如一年(见表1)。与此同时,亏损企业数量和比重却在不断上升。表1上市公司历年盈利指标比校1992199319941995199619971 In recent years, the average profitability and level of listed companies have shown a downward trend year by year. From the annual reports of listed companies, we can clearly observe that the average profit per share is lower than one year and the return rate of shareholders’ equity is also less than one year (see Table 1). At the same time, the number and proportion of loss-making enterprises are on the rise. Table 1 listed companies over the years profit target ratio school 1992199319941995199619971