Research On Evaluation About Companys Financial Competitiveness Based On Index

With the development of economy and technology, the competition amongcompanies gets more and more fierce. Financial competitiveness as an important part ofenterprise core competitiveness, being concerned more and more. At present, with thesevere changes of enterprise’s internal and external management environment, theenterprise’s financial management is facing complexity, dynamic and uncertainty. Howto changing internal and external environment to obtain and maintain competitiveadvantage, is becoming the modern enterprise’s urgent objectiveness. As the concept offinancial competitiveness is put forward, making the enterprise financial concept to ahigher realm. Once an enterprise set up the concept of financial competitiveness, it willforce companies get out of the heaven and earth of product, to revitalize the stock assetsof the enterprise, and actively adjust the industrial structure and capital structure, intonew areas of capital operation, in order to improve the competitiveness of the enterprises.This paper is based on the above background, try to explore enterprise financialcompetitiveness from a new direction, especially from a financial perspective to explorethe competitiveness, compared to the infancy stage of domestic and foreign research onfinancial competitiveness, the present situation of the results of theoretical research lagsfar behind the practice, this study has good innovation significance. By strengthening thecompany’s financial competitiveness theory and evaluation method of research, isadvantageous to the enterprise to change the development ideas, turned their attentionfrom external market structure to dig their own internal core capabilities, and helpcompany to develop and improve their financial competitiveness theory system, whichcan guide the daily operation and enterprise financial management work, enhance thecompetitiveness of the company. In addition, through analyzing the current situation ofthe listed company financial competitiveness, facilitate their ability to competeunderstand their financial situation and other industry enterprise’s financial ability, todevelop appropriate financial strategy, improve the financial situation, improve theeconomic efficiency and realize the sustainable development of enterprises. The maincontents of this study are as follows: The first chapter is introduction. Mainly elaborated the background of the problemsraised by the vacancy of the relevant theoretical problem to be solved, and targets forresearch and approach to the study, explain the logical framework and technologyroadmap, the proposed innovation and potential contribution.The second chapter is the literature review. Combination of research topics, researchon finance, financial competitiveness and its evaluation, points out the lack of existingresearch and efforts direction of this research, at the same timeThe third chapter, the comprehensive analysis of the enterprise’s financialcompetitiveness. This chapter first analyzes six elements of diamond model, according tothe logical thinking: competitive advantage will bring competitiveness, enterprisefinancial competitive advantage will bring financial competitiveness, through theoreticaldeduction, summarize the six elements of diamond model into three aspects ofenterprises financial competitive advantage, and then from three aspects of financialcompetitiveness, which constitute the overall financial competitiveness of the three coreelements: financial strategic management ability, financial resource allocation ability,financial interests coordination ability； Then analyzes relevant theories about financialcompetitiveness: financial strategic management theory, resource-based theory andstakeholder theory, and the three core elements is put forward to provide theoreticalsupport; Finally, analyzes the financial competitiveness of three core elements,summarizing the relationship between the elements of financial competitiveness, to find away to raise the competition ability of the financial foundation, as well as solidtheoretical foundation for the empirical analysis of financial competitiveness.The fourth chapter, the enterprise financial competitiveness evaluation index systemdesign. As the core of this study section in this chapter, based on the three core elementsof financial competitiveness proposed before, at the same time, draw lessons from pastfinancial competitiveness research, first of all, preliminary design of the enterprisefinancial competitiveness evaluation index system, involved34financial competitivenessevaluation index, and create enterprise financial competitiveness questionnaire. Then,based on SPSS statistics software to exploratory factor analysis of300effectivequestionnaires, using the remove of the reliability and validity test9index is notreasonable, finally get7secondary index contains25tertiary indicators of evaluation system. Finally, containing25indicators measuring items of300valid data again forexploratory factor analysis, the final index system through the reliability and validity test,proved the financial competitiveness evaluation index system for evaluate the financialcompetitiveness is suitable.The fifth chapter is the determination the index of financial competitiveness ofenterprise evaluation model. In this chapter，firstly, making explanation of the concept ofindex and index evaluation model built; Then, weighted sum method is adopted toimprove the index of synthesis, the threshold method is adopted to dimensionlessprocessing of the original data, third, the index of the enterprise’s financialcompetitiveness index evaluation model were finished; Finally, using the analytichierarchy process (ahp) and the effect of the system, respectively from the subjective andobjective, determine the final weights at all levels.The sixth chapter, enterprise financial competitiveness index evaluation of empiricalresearch. Firstly,25Chinese communication and culture industry listed companies as thesample, a measure of the25companies in different levels of the index calculation, it isconcluded that each enterprise financial competitiveness in the industry of scoring andsorting; Then, on the basis of the empirical analysis to get the final score and sorting,corresponding analysis conclusion.The seventh chapter is the conclusion. Point out the main conclusions of this study,the study limitations and future prospects.Through the research of this paper, building the Comprehensive index system of thefinancial competitiveness, further expands the appraisal theory of the financialcompetitiveness, providing reference and support to the firms which are seeking ways toenhance their financial competitiveness.