基于灰色聚类法的兵团上市公司经营绩效评价

Performance Evaluation on XPCC Listed Companies Based on Grey Clustering Method

上市公司是行业和地区企业的龙头与代表,上市公司经营得好坏在很大程度上反映出行业、地区的经济发展水平,且对资本市场也有着一定的影响。该文以兵团上市公司为研究对象,选取2012—2016年5年的数据进行时间加权,运用中心点混合三角白化权函数的灰色聚类方法,对上市公司的经营绩效及经营能力中的盈利、运营、成长、偿债能力分别进行聚类评价。实证结果发现:近些年兵团14家上市公司的经营绩效存在差异,天润乳业等公司经营得相对较好,但几乎每家公司都存在经营短板。对此,兵团上市公司需要及时发现经营的不足,进行改进,提升整体经营能力,共同推进兵团经济向前发展。

Listed companies are the leading sectors and representatives of companies in a certain industryand a certain region. Their performance reflects the economic development level in the industry and regionto a large extent and also influences the capital market to some degree. With XPCC listed companies asobject, we did clustering evaluation and categorizing respectively on their performance and their profiting,operating, developing and debt-paying capabilities, by selecting data from 2012 to 2016 with time weightingapproach and by employing grey clustering method of central point mixing triangle whiting function. Theempirical research show that in recent years there are differences of performance among the 14 XPCClisted companies, the performance of Tianrun Dairy Company is relatively better but almost every listedcompany in XPCC has its short board. Therefore we put forward suggestion that XPCC listed companiesshould find their shortcomings properly, find ways to solve them and improve their overall operating ability.By doing these can they move forward the economic development level in XPCC.