东北大学学报：社会科学版
東北大學學報：社會科學版
동북대학학보：사회과학판
Journal of Northeastern University(Social Science)
2015年
1期
25~31
,共null页
投融资 匹配指数 熵权法 企业价值
投融資 匹配指數 熵權法 企業價值
투융자 필배지수 적권법 기업개치
investing and financing; match index; entropy; enterprise value
从投融资数量、期限、专用性、风险和收益成本五个方面选择相应的评价指标,并采取熵权法确定各评价指标权重,构建了投融资匹配指数评价模型。进一步以机械、设备、仪表制造业为例,阐明了该指数的计量过程,并检验了投融资匹配的经济后果。研究结果表明,投融资匹配程度对企业价值存在正向促进作用,上市公司加强投融资配置可以看做企业价值增加的信号之一。
從投融資數量、期限、專用性、風險和收益成本五箇方麵選擇相應的評價指標,併採取熵權法確定各評價指標權重,構建瞭投融資匹配指數評價模型。進一步以機械、設備、儀錶製造業為例,闡明瞭該指數的計量過程,併檢驗瞭投融資匹配的經濟後果。研究結果錶明,投融資匹配程度對企業價值存在正嚮促進作用,上市公司加彊投融資配置可以看做企業價值增加的信號之一。
종투융자수량、기한、전용성、풍험화수익성본오개방면선택상응적평개지표,병채취적권법학정각평개지표권중,구건료투융자필배지수평개모형。진일보이궤계、설비、의표제조업위례,천명료해지수적계량과정,병검험료투융자필배적경제후과。연구결과표명,투융자필배정도대기업개치존재정향촉진작용,상시공사가강투융자배치가이간주기업개치증가적신호지일。
An evaluation model of investing and financing match index was built up by selecting the indexes from such aspects as quantity, duration, specificity, risk and benefit-cost and by determining the weight of each index with entropy. Taking the machinery, equipment and instrument manufacturing industries as its samples, this study illustrated the index measuring process and verified the economic outcomes of investing and financing match. The results showed that the investing and financing match index plays a positive role in promoting enterprise value, and the investing and financing allocation reinforcement of listed companies can serve as one signal for the increase of enterprise value.
