基于熵权-TOPSIS法对医疗器械类企业财务风险的实证研究
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摘要
针对医疗器械类上市公司财务风险严重影响该行业的健康发展这一现象,以2017年A股上市的全部49家医疗器械公司财务数据为基础,从偿债能力、盈利能力、营运能力、成长能力和现金流能力等5个模块构建了含有15个二级财务指标的财务风险评价体系.运用熵权法计算这些财务指标的熵权,并使用TOPSIS评价模型对抽取的5家样本公司进行财务风险评价的案例研究.结果表明,偿债能力和成长能力的熵权比重最大,这2个因素是影响医疗器械类上市公司财务风险最主要成分.给出了降低该行业财务风险的合理化建议.
Aiming at the phenomenon that financial risks of listed medical device companies seriously affect the healthy development of this industry,based on the financial data of all 49 medical device companies listed in a-share market in 2017,constructes a financial risk assessment system containing 15 secondary financial indicators from five modules,including solvency,profitability,operating capacity,growth capacity and cash flow capacity.Then entropy weight method was used to calculate the entropy weight of these financial indicators,and TOPSIS evaluation model was used to conduct a case study of financial risk evaluation of the five sample companies.The results show that the entropy weight proportion of debt paying ability and development ability is the largest,and these two factors are the main components that affect the financial risk of listed medical device companies.Gives some reasonable suggestions to reduce the financial risk of the industry.
Aiming at the phenomenon that financial risks of listed medical device companies seriously affect the healthy development of this industry,based on the financial data of all 49 medical device companies listed in a-share market in 2017,constructes a financial risk assessment system containing 15 secondary financial indicators from five modules,including solvency,profitability,operating capacity,growth capacity and cash flow capacity.Then entropy weight method was used to calculate the entropy weight of these financial indicators,and TOPSIS evaluation model was used to conduct a case study of financial risk evaluation of the five sample companies.The results show that the entropy weight proportion of debt paying ability and development ability is the largest,and these two factors are the main components that affect the financial risk of listed medical device companies.Gives some reasonable suggestions to reduce the financial risk of the industry.
引文
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[2]杨丹丹.基于熵权-Topsis法的我国矿业上市公司财务风险评价研究[D].北京:中国地质大学,2018
[3]陈晓,陈治鸿.企业财务困境研究的理论、方法及应用[J].投资研究,2000(6):29-33
[4]王超.基于模糊层次分析法的财务风险评价研究——以X医药企业为例[J].会计之友,2018(3):115-119
[5]王婷,朱家明.基于多元线性回归分析的商业银行盈利能力影响因素研究[J].高师理科学刊,2018,38(8):15-18,21
[6]邢康,朱家明.基于因子分析法的我国上市房地产公司绩效评价[J].高师理科学刊,2018,38(7):19-22,27
[7]王威,朱家明,石刚送.基于因子分析法对互联网公司财务状况的综合评价——以L公司为例[J].九江学院学报:自然科学版,2018,33(2):40-45
[8]马甜甜,朱家明.互联网公司融资结构对公司绩效的影响——基于沪深A股互联网企业的实证研究[J].长沙大学学报,2018,32(2):70-73
[9]李咏馨,朱家明,厉培培,等.基于AHP及因子分析的宜居城市评价模型[J].高师理科学刊,2017,37(8):15-19
[10]尹夏楠,鲍新中.基于熵权TOPSIS方法的高新技术企业财务风险评价——以生物制药行业为例[J].会计之友,2017(4):70-74
[11]雷娜.企业短期偿债能力影响因素的研究——以青岛海尔股份有限公司为例[J].中国管理信息化,2016,19(9):50-52
[12]姚莉.基于企业现金流风险控制与管理的分析[J].国际商务财会,2018(9):54-56
[13]张侠.基于财务视角的顺丰集团发展能力分析[J].金融经济,2018(16):117-118
[14]马德军.公司财务风险分析与控制研究[J].商场现代化,2018(16):152-153