基于熵权法的有色金属上市公司财务评价研究

Financial evaluation of nonferrous metal listing corporation with entropy weight method

为对有色金属上市公司的财务水平做出科学、合理的评价,提供财务管理数据信息,使公司及时发现财务问题并加以解决,本文在研究该行业财务特点的基础上,从偿债能力、营运能力、盈利能力、发展能力、现金流量指标5方面构建了财务评价指标体系,将5方面评价内容拆分成22个财务指标进行衡量,通过熵权法对各财务指标赋权,以10家有色金属上市公司为对象,运用TOPSIS法对2013年的财务数据进行计算,并加以排序。研究结果显示了区分有色金属公司财务状况的主要能力是偿债能力和营运能力,主要指标是利息保障倍数、固定资产投资回报率等7项指标,同时揭示了各样本公司财务水平的差异性特点。

This paper,to make scientific financial evaluation and provide financial management information for the nonferrous metal listing corporations,sets up a financial evaluation index system aiming at the industry's financial characteristics.This system consists of 5financial abilities and 22 financial indicators.The five financial abilities are debt paying ability,operation ability,profitability ability,development ability and the cash flow indicator.The paper uses entropy weigh to each index and Topsis method to calculate the financial data of 10 listing companies.Based on calculation,the data show that the key influential abilities to the financial position are debt paying ability and operation ability.The research also shows 7influential indicators.The results can reveal the different financial levels of the sample companies.