基于改进TOPSIS模型的物流业上市公司融资效率

A Research on the Financing Efficiency of Listed Companies in Logistics Industry Based on Improved TOPSIS Model

基于改进TOPSIS模型,对2016年我国物流业上市公司进行融资效率评价,对比2015年评价结果进一步探究影响融资效率的主要因素。结果表明:影响物流业上市公司融资效率的主要因素集中在利息保障倍数、存货周转率及筹资活动现金流入流出比等方面; 2016年物流业上市公司融资效率整体较低,且行业间差距较大;2016年物流业融资整体效率低于2015年,且下降幅度较大。提出相关建议:物流业企业应进一步优化筹资结构,提高筹资效率,增强公司治理能力,强化自身竞争力。

Based on the improved TOPSIS model, the financing efficiency of listed companies in China s logistics industry in 2016 is evaluated, and compared with the 2015 evaluation results, the main factors affecting the efficiency of financing are further explored. The results are as follows:the main factors affecting the financing efficiency of listed companies in the logistics industry are concentrated in the interest guarantee multiples, inventory turnover rate and cash inflow and outflow ratio of financing activities;the financing efficiency of listed companies in the logistics industry was generally low in 2016, and the gap between industries was large;the overall efficiency of logistics industry financing was lower in 2016 than that in 2015, and the decline was larger. Relevant suggestions have been proposed that logistics enterprises should further optimize the financing structure, improve fundraising efficiency, enhance corporate governance capabilities, and strengthen their competitiveness.