| As the gradual improvement of the socialist market economic system with Chinese characteristics, the market system has been ever increasingly perfect, the listed companies is gradually increasing, the economic environment is increasingly complex and the competition is more and more intensified. Making accurate financial analysis for basic financial status of the enterprises is also very important to the investors who want to make the right investment decision-making. In addition to the requirements of real financial data, the demand of the method of financial analysis is also getting higher and higher to grasp the operating conditions and financial status of listed companies accurately and timely.For the outstanding issues, such as the objectivity, practicality of companies’ financial analysis currently, the fuzzy comprehensive evaluation model of enterprise financial risk based on the basic idea of fuzzy mathematics, the characteristics and elements of enterprise financial risk is established to deal with the problems in this paper.The financial situation is determined by a number of factors,19 financial indicators are selected to reflect the financial position of the listed companies and divided into the criteria layer and the index layer by the AHP method in this paper. The criteria layer includes five categories of indicators:profitability, operational capacity, solvency, the level of risk and develop capacity. The various types of indicators which contained in the criteria layer are called the index layer. The financial status is a fuzzy concept. It is divided into five levels by 5 reviews (excellent, good, medium, low, and poor). And then the two-level fuzzy comprehensive evaluation mathematical model is established:firstly, one-level fuzzy comprehensive evaluation mathematical model is established. It’s the fuzzy comprehensive evaluation to the categories of indicators of the criteria layer. The weight of the underlying indicators is determined by the method of entropy weight. According to the financial data of listed company, the fuzzy normal distribution is used to construct the membership function of the underlying indicators; then the evaluation matrix of the fuzzy comprehensive evaluation can be got by the single-factor evaluation of the underlying indicators from the membership function. According to the evaluation matrix and the weight, the fuzzy comprehensive evaluation of the criteria layer can be got by using different operators. Secondly, the two-level fuzzy comprehensive evaluation mathematical model is established in this paper. It’s the fuzzy comprehensive evaluation of the listed company’s financial position. According to the evaluation matrix of two-level fuzzy comprehensive evaluation which is got from the end of the one-level fuzzy comprehensive evaluation mathematical model and the weight of the criteria layer’s indicators which be got by analysis-scaling, the fuzzy comprehensive evaluation of the listed company’s financial position can be got by the two-level fuzzy comprehensive evaluation mathematical model. In the end, two listed companies of the coal mining industry are selected to conduct an empirical analysis.The innovation of this paper:Taking into account the different industries have different characteristics of the actual situation of financial indicators and the knowledge of entropy, the weight between the various financial indicators is determined objectively; the fuzzy normal distribution is used to construct the membership function reasonably; in the model calculation, different operators are applied to different index systems to make it be more realistic calculation. Generally, basing on the relevant knowledge fuzzy comprehensive evaluation, the text attempts to organically combine with a variety of relatively objective method and exclude the subjective factors to provide a set of objective and feasible methods which could to evaluate the listed company’s financial position. |
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