Comprehensive Appraisal On The Performance Of Listed Electric Power Company In China

With the further development of China's security market, the performance of listed companies has already become the major concerns of securities investors, government administrative departments, securities analysts as well as company staff. How to evaluate scientifically the performance of listed company becomes a hot spot both in the theory and practice of present investment securities. Through the statistics method, the research of this text select proper comprehensive appraisal index. Then we endow plausible weights to these index through empirical study. After that, we adopt several multi-index composition method to evaluate the performance of listed enterprises in Chinese electricity industry. Finally ,we order the performance of all the listed companies. The core research content and conclusions are as follows.First of all, the author made a brief introduction to main methods of evaluating of the domestic and international company's achievement, pointing out the disadvantages and advantages of various kinds of methods. These methods offer reference and thinking of this text.Secondly, regarding index selection, the author adopted the approach of dual-classification and typical selection, which is a sound combination of objective and subjective aspects for the selection of index in appraising listed companies performances. Empirical studies have proved that this method not only draw an overall view but also reflect the typical issues, which enjoys a feature of widely use and strong feasibility.Further more, the author conducted an empirical study on different weight-endowing methods: the variation coefficient power, the related coefficient power, the CRITIC method power as well as the method of combined power. It turns out to be that the CRITIC method power and the method of combined power are more rational power endowing methods relative to the method of simple information power.Finally, the author adopted other comprehensive evaluation methods such as the line function, factorization method, main composition of method, weighted rank-sum ratio method, etc. After that, the author made an empirical study, using the finance data of the year 2005 to evaluate the performances of 54 listed companies in Chinese power industry. The author drew the conclusion that the ranking results of performances for listed power companies enjoy high consistency deriving from various comprehensive evaluation methods.