Financing Efficiency Evaluation Based On Entropy Method As Chinese Nonferrous Metal Listed Companies For Example

In recent years, China’s nonferrous metals industry in the role of "second five"planning policy to actively adjust the industrial structure, strengthen the industrymergers and acquisitions, corporate development efforts to strengthen the non-ferrousmetal industry requires a lot of money as a support, coupled with non-ferrous metalindustry companies involved the mining and metal processing huge capital investmentpayback period is long, so the financing is crucial to the development of the wholeindustry. Non-ferrous metal industry companies operating in non-ferrous metalsindustry, the best companies, and therefore the effect of the level of financing thesector listed companies more aware of the representative. Therefore, the study of theefficiency of corporate finance for non-ferrous metals industry financing of listedcompanies to establish and evaluate the effect of the impact of China’s nonferrousmetals industry companies financing conditions and evaluation of efficiency, for thefinancing of non-ferrous metal industry companies to enhance the effect, enhance theoverall value of the enterprise have a major impact.In this paper, non-ferrous metals industry research for the study of listedcompanies, the use of theoretical and empirical analysis and use of research methods,first of all financing, efficiency, financing and other domestic issues efficiencytheoretical research and collect a variety of evaluation for financing efficiencyFeatures methods, integrated various types of documents raised questions for theevaluation of the efficiency of the enterprise value of the financing for the direction ofresearch and analysis of the status and characteristics of the whole industry as aresearch background, found in non-ferrous metal production increased in volume inrecent years to enhance the situation is more emphasis on funding timeliness of inputs. As a basis for non-ferrous metal industry companies to find financing efficiencyfactors. Influencing Factors on the results to non-ferrous metals businesscharacteristics and financing efficiency content in both directions as the starting pointto establish non-ferrous metal industry companies financing efficiency evaluationsystem framework, the following five aspects availability of funds, the cost offinancing case value of the company, the financing structure and funding riskscircumstances corresponding indicators selected for study evaluated the effect offinancing. In this paper, non-ferrous metals to our51listed companies in2013annualreport, the financial data for the sample, using entropy method for the analysis ofnon-ferrous metals means of listed companies seeking financing efficiency analysis ofits composite score, followed by a listed company to obtain the overall financing ofthe effect of non-ferrous metals poor financing efficiency and value changes inbusiness trends in the same index.On this basis, some suggestions about China’s nonferrous metals industry toeffectively improve the effect of the financing of listed companies: emphasizeendogenous financing, internal equity capital utilization increases; introduction ofnew financing to strengthen the diversification of financing instruments; financingrestructuring, enhancing the overall level of non-ferrous metal industry businessoperations; conducted refinancing of listed companies to maintain the futuredevelopment of business needs.