A Research On The Design And Application Of Credit Evaluation System For Food Listed Companies

China's food industry is currently in a state of supersaturation,and the market competition is fierce.As a public interest entity,food listed companies are relatively small and heterogeneous in comparison with those listed in other industries.They need financial support to develop and stand out in the fierce competitive market.However,banks and other lending institutions have strict policies as the country's economic growth slows.The more stringent payment policy has caused the financing difficulties of listed food companies.On the one hand,financial lending institutions and shareholders can understand the credit status of enterprises by credit evaluation of enterprises so that they can investing according to their own risk preferences,which increases the probability of obtaining financial support for food listed companies.Therefore,this paper intends to design a set of targeted credit evaluation system from the perspective of independent third party,and the system depend on the characteristics of listed food companies and the factors affecting their credit risk.At the same time,making a comprehensive evaluation of the credit level for food listed companies by Grey correlation analysis-entropy method,which can effectively alleviate the information asymmetry between borrowers and lenders,and help investors make objective evaluation and rational investment according to the credit level of enterprises.It also increases the possibility for listed food companies to obtain loans and investments.Firstly,this paper analyses the characteristics of listed food companies and the influencing factors of credit risk.On the basis of previous studies,it designs the credit evaluation system of listed food companies including six first-level indicators and 27third-level indicators such as financial situation,basic situation of enterprises,operation and management,social responsibility,food safety management and operation of supply chain,and the index system passed the independence test.Secondly,taking the data of 126 food listed companies from 2016 to 2018 as the research sample,the weight of index is determined by the method of entropy method.The result showed that the weight of financial status,operation and management,basic situation of enterprises and social responsibility is larger,which have greater impact on the credit level of food listed companies.The weight of each index is introduced into the Grey relational analysis method,and the improved Grey relational analysis method is used to evaluate the enterprise credit comprehensively.Taking three food listed companies A,B and C as specific research cases,this paper applies the evaluation system and methods established in this paper to evaluatetheir credit.Among them,the credit level of enterprise A is relatively high and that of enterprise C is relatively low.The evaluation results are consistent with the actual development of enterprises.The consistency proves that the index system and evaluation model designed in this paper have certain rationality and practicability.Finally,specific suggestions are put forward according to the weight of the index and the evaluation results of the case company to improve the credit level of food listed companies.These suggestions also have certain reference significance for Non-listed food companies.