创业板上市公司经营绩效评价研究——基于层次分析法和综合评价模型

Management Performance Evaluation of the Listed Company in GEM——Based on the AHP and Comprehensive Evaluation Model

创业板市场为高新技术企业和高成长型中小企业上市融资提供了便利。本文选取了50家创业板上市公司作为研究样本,采取层次分析法和综合评价模型相结合的方法,构建创业板上市公司经营业绩评价体系,对创业板上市公司经营绩效进行定量评价。实证结果发现:现金流是影响财务状况的主要因素,创新能力是影响非财务状况的主要因素。

The GEM （Growth Enterprises Market） provides convenience for the high-tech enterprises and high growth enterprises listing and financing. This paper selects 50 GEM listed companies as the research sample, adopts combination of the method of AHP （Analytic Hierarchy Process） and comprehensive evaluation model, constructs the operating performance evaluation system of GEM listed companies, to evaluate the operating performance of GEM quantitatively. The empirical results show that： the cash flow is the main factor affecting the financial situation and the innovation ability is the main factor that influences the quality of non-financial condition.