上市公司战略经营业绩评价方法研究

南京航空航天大学硕士学位论文上市公司战略经营业绩评价方法研究姓名：金晓锋申请学位级别：硕士专业：企业管理指导教师：张卓20060101i30iiAbstractInthemoderneconomicsocietyofhighinformationandhi-tech,performanceevaluationofenterprisehasbeenaneffectivemanagementtool,anditsimportancehasbeenrecognizedbytheoristsandpractitioners.Asbusinessmanagementcometotheeraofstrategicmanagement,traditionalperformanceevaluationofenterprisecannotsatisfytheneedofbusinessmanagement,anditmustbereinforcedtostudystrategicperformanceevaluationofenterprise.Inourcountry,thestockmarketincludesmanyexcellentlistedcompanies,whichareveryimportanttotheeconomicdevelopmentofChina,andtheirperformanceswillnotonlyaffectthedevelopmentofthestockmarket,butalsoaffectthecontinualdevelopmentofoureconomy.Thus,thepaperwillresearchonthestrategicperformanceevaluationoflistedcompaniesunderthehopetooffervaluablereferenceforthefutureresearchandbusinesspractices.Thepaperprimarilyincludesthefollowingcontents.Firstly,thepaperintroducestheresearchbackgroundsoftheperformanceevaluationofenterpriseabroadanddomestically.Secondly,itexpoundsthebasictheoriesofthestrategicperformanceevaluationoflistedcompanies.Thirdly,basedonthetheoriesabove,itdevelopsanindicatorsystemoftheevaluation.Fourthly,itestablishesanewcomputingmodelfortheevaluation.Finally,thepaperempiricallytestifiesvalidityofthesystembyusingthedatumoftheChineselistedcompaniesinmanufacturingindustryofelectronicalmachineandequipment.Forevaluatingperformanceofthelistedcompanies,thepaperuseacompoundmethodologyofqualitativenessandquantitativeness,basedonentropytheory.Thepaperincludessomeinnovativecontents.Firstly,byintroducingthenon-financialindexesofcorporategovernance,production,technologicalinnovatingandmarketing,thepaperestablishesacompoundedindexsystemsofevaluation.Secondly,itdevelopsanewcomputingmodeloftheevaluationwhichisverifiedtobesuitabletotheChineselistedcompanies.Thirdly,byusingthesystemofevaluation,thepapermakesaranktotheChineselistedcompaniesinthemanufacturingindustryofelectronicalmachineandequipment.Keywords:listedcompany,strategy,operationsperformance,evaluationsystemi1.1.......................................................73.1......................................................215.1..................................................415.2......................435.3..............................................................................451.1................................................................................................122.1................................................................163.1..................................................315.1......................................................465.2................................................................461219401.11.1.111940[1]1911[2]20[3]20[4]71903Brown[5]32020Melnness197130[6]PersonLezzig1979400[7]20808[8]20502080[9]2EVA1991SternStewart(EconomicValueAddedEVA)[10]EVAEVASternStewart(EVA)(MVA)(FGV)EVAMVAFGVJeffrey1997RefinedEconomicValueAddedREVA[11]EVAEVAEVALehn199619871996241EVAMVA[12]EVABiddle(1997)1000419831994EVA[13]JamesTobin1969MVAQ[14]32019301950[15]1959SCPStructureConductPerformanceSCP[16]1975PIMSProfitImpactofMarketStrategiesPIMS20803000275341846[2]McNairLynchCross1990[17]RobertKaplanNorton1992[18]Fitzgerald1993[19]MarkidesWilliamson1994[20]19958[21]2090[2]Tempus2090TEMPTEMP6[22]Banker2000[23]1.1.2209019938199510[9]19994[24]102482002281.1[25]EVA7EVA2001[26]2002[27]2004[28]2004[2]EVA1999EVAREVA[29]2000EVA[30]2003EVA[31]TCLEVA[32]1.11.21.2.18[33]199550050050010008500500[34]EVA1.2.2209019966[35]19995044[36]200093015[37]20[38]19995020[39]2413[40]2000[41]2002[42][43]2005[44]EVA1.31.3.1101231.3.2111234512330EXCELSPSS1.3.312341.3.41.112301.1132.12.1.11[45]2RobertSimons2000[46]2004[2]142.1.2122.1.3[47]11523456162.22.2.12.12.1172.2.22.2.32.2.42.3182.3.12.3.22.3.3193.11232043.2433.13.2.13.2.2213.1X1X23X2X24X3X25X4X26X5X27X6X28X7X29X8X30X9X31X10X32X11X33X12X34X13X35X14X36X15X37X16X38X17X39X18X40X19X41X20X42X21X22X433.2.321223.2.43.33.3.113.12%100×3.2323%100×3.34%100×3.45%100×3.56%100×3.63.3.212243.7213.833.94%100×3.105200461.90%[48]%100×3.11625%100×3.123.3.313.1323.1433.1543.165%100×3.17263.3.413.182%100×3.193%100×3.204%100×3.21527%100×3.223.3.5%1001/3×/33.233.3.6[49]120%50%[40]35%%100×3.24282100%[40]%100×3.253%100×3.2641/3%100×3.275%100×3.283.3.7291%100×3.292%100×3.303%100×3.314%100×3.32533.333063603.343.3.81%100×3.352%100×3.363%100×3.374%100×3.38313.43.1433.1324.1TOPSIS4.1.112060Delphi[50]2AHPSaaty2070[51]333Zadeh1965[52]UV4.1.21[53]342——[54]3TOPSISTOPSISHwangYoon1981[55][56]4[57]355[58]6[59][56]4.2TOPSIS364.2.1entropyClausisu1856[60]1948WienerShannon90[61]1nmRijriji=12…mj=12…nR=⎥⎥⎥⎥⎦⎤⎢⎢⎢⎢⎣⎡mnmmnnrrrrrrrrrLMMMLL2122221112114.1jjHjH=-kijm1iijlnff∑=j=12…n4.2ijf∑=m1iijijrrk=mln1ijf0ijflnijf010j≤≤H2jjw37jw∑=n1jjj11HH4.33[61]j10j10j≤≤w∑n1jj1w4.2.212SPSSEXCEL384.2.31A=nm×)a(ijR=nm×)r(ijijaijijriji=12…mj=12…n2R=nm×)r(ijF=nmf×)(ijijf∑=m1iijijrrj=12…n4.43jjHjH=-mln1ijm1iijlnff∑=j=12…n4.54jjwjw∑=n1jjj11HHj=12…n4.65iiziz∑=njijjw1ri=12…m10zi∈4.74.339200220045.15.1.15——5.1.2505.1.320041231