因子分析在上市公司经营业绩评价中的运用

The Application of Factor Analysis in the Evaluation of Management Performance of Corporations Traded on the Stock Market

上市公司经营业绩的评价要求客观、公正 ,然而现实中多采用主观赋权法进行评价 ,这些方法的运用带有一定的主观性 ,为此本文试图提出另一种系统评价方法——因子分析法 ,并举例说明。

The evaluation of the management of corporations traded on the stock market needs to be objective and just, but in reality currently used methods are subjective to some extent. We need a method that is based on the analysis of the data itself. In western countries, a method called 'factor analysis' is applied very often in the evaluation of operations of corporations. The basic principle of this method is to classify the variables of economics into several groups according to correlation. In these groups, the correlation of variables between different groups is lower than that in the same group, and every group embodies a basic structure. We call this structure'pulblic factor'. With this method, we can summarize all original variables with only a few public factors. In business or economic statistics, the number of relevent variables can potentially reach dozens. In such a situation, it is difficult to evaluate the perfomance of the system as a whole, let alone the performance of specific aspects. Factor analysis can make the evaluation more easy and understandable. In this paper, I will explain its theory and apply it in an example.