Improved Integrated Evaluation on Financial Performance of Listed Company: A Case Study of 14 Transport Companies

摘要

In order to solve the problem of the inconsistencies in different evaluation methods of 14 listed transport companies, this paper constructs an improved integrated evaluation model. First, Analytic Hierarchy Process, Gray Relation Analysis, and Factor Analysis were used in the model, and Kendall's W was applied to the prior test the different methods. After the test, an integrated evaluation was conducted based on an Arithmetic Average Model, Borda Model and Copeland Model. In order to assess the result's compliance with the integrated evaluation and its sub-models, Spearman Rank Relation Coefficient Method was used for the back test. The optimal model was selected based on the Spearman Rank Correlation coefficients. In the integrated evaluation of the financial performance of the listed companies, the standard of the Arithmetic Average Model was taken as the cluster index in the clustering according to the Euclidean Distance Method. The results showed that the benchmarking company was Tielong Logistics in the railway transport, Beijing Media in the waterway transport, and Channel Share in the road transport. The financial performance of the listed companies in road transport was the best.