摘要
本文以A股25家创投概念上市公司为研究对象,基于2016年~2018年三年的相关数据,从盈利能力、偿债能力、营运能力和发展潜力四个方面一共选取9项财务指标,运用Topsis法改进的因子模型对公司综合得分进行排序,根据最优因子方案贴近度来评价各创投概念上市公司的投资价值.结果表明,仅有28%的创投概念上市公司最优因子方案贴近度高于0.6,该板块内不同公司的发展并不均衡,整体创投概念上市公司的投资价值还存在着较大提升空间.
Based on the data of 25 A-share venture capital concept listed companies in 2016~2018,this paper selects 9 financial indicators from the four aspects of profitability,solvency,operating capacity and development potential,uses the improved factor model of Topsis method to rank the comprehensive scores of companies,and evaluates the listed companies of each venture capital concept according to the closeness of the optimal factor scheme the investment value of the company.The results show that only 28%of venture capital concept listed companies have the best factor scheme close degree higher than 0.6,the development of different companies in this sector is not balanced,and the investment value of the whole venture capital concept listed companies still has a large space to improve.
作者
于志慧
吴一凡
YU Zhi-hui;WU Yi-fan(School of Finance,Anhui University of Finance and Economics,Bengbu 233030,Anhui,China)
出处
《山西师范大学学报（自然科学版）》
2020年第3期92-99,共8页
Journal of Shanxi Normal University(Natural Science Edition)
基金
安徽省自然科学基金青年项目(1808085MG218)
安徽财经大学教研项目(acjyyb2018009).
关键词
创投概念
投资价值
因子分析
TOPSIS法
venture capital concept
investment value
factor analysis
Topsis method
