新疆“新三板”挂牌公司经营业绩评价与分析

Performance Evaluation and Analysis of Companies in NEEQ in Xinjiang

本文以新疆2014年至2016年挂牌全国中小企业股份转让系统("新三板")的90家公司为样本,以2015年数据为基础,运用熵权法构建了企业绩效评价体系,包括4个一级指标和17个二级指标,综合评价企业业绩。评价结果显示,影响企业业绩的首要指标是营运能力,其次是偿债能力;同时表明,新疆挂牌公司的营运能力指标得分最高,其次是偿债能力指标,得分最低的是成长能力指标。分行业比较,经营业绩平均得分最高的行业为农林牧渔业,最低的行业为信息传输、软件和信息技术服务业。盈利能力、偿债能力平均得分最高的行业均为建筑业;成长能力、营运能力平均得分最高的行业均为农林牧渔业。分企业性质比较,民营企业挂牌公司数量占绝对优势,其成长能力平均得分高于国有企业,但总体绩效得分低于国有企业。新疆"新三板"挂牌公司应充分认识自身的优势和不足,进一步提升其成长能力和偿债能力,尽早和尽可能多地实现挂牌效益。

This paper, using 90 companies listed in National Equities Exchange and Quotations （NEEQ） from 2014 to 2016 in Xinjiang as samples with the data in 2015 as the basis, employs the entropy -weight method to construct the evaluation system, including 4 first - level indicators and 17 secondary indicators in order to carry out the comprehensive evaluation. The evaluation results show that the most important indicator is operating ability, followed by the debt paying ability. It also indicates that the highest score comes to operating capacity, next is debt paying ability, the growth ability scores lowest. Comparing from different industries, the highest average score of enterprise performance, growth ability and the operating capacity is the enterprises in agri- culture, forestry, animal husbandry, and the companies that have lowest average score of performance are those providing service of information transmission, software and technology ones. Construction companies have a highest average score in the aspects of profit ability and debt paying ability. Furthermore, the number of private enterprises is absolutely large, the score of growth abili- ty is higher than that of the state - owned enterprises, but the overall performance score is lower than that of the state - owned en- terprises. Therefore, companies in Xinjiang which are listed in the NEEQ should fully realize their strengths and weaknesses, fur- ther promote their growth ability and debt paying ability to achieve benefits from the NEEQ as much as possible.