上市公司财务绩效考核体系研究——基于因子分析的思考  

Research on Listed Company's Financial Performance Appraisal System——Base on Factor Analysis

作　　者：龙振海[1] 

机构地区：[1]上海交通大学安泰管理学院,上海200052

出　　处：《科学技术与工程》2010年第25期6363-6370,共8页Science Technology and Engineering

摘　　要：上市公司的财务绩效考核问题一直是理论界和实务界研究的重点,主要原因在于公司绩效考评传达的是一种外部信号,通过这种机制传导,广大投资者可以合理地选择投资重点,优化投资组合,进而对有限资源进行合理配置。通过对现有文献的研究,提出一套定量的研究考核指标体系。具体运用因子分析的方法,结合国内外的绩效考评现状,提取三个主因子(发展因子、偿债因子和盈利因子)并客观地赋予适当权重,分析了90家上市公司的财务数据,得出了有意义的结论,进而丰富和发展了我国当前公司绩效考评方法。listed companies whose financial performance evaluation has always been an important problem in theory and practice,largely because of the financial performance evaluation conveying external information.Through such a mechanism,the majority of investors can make a reasonable choice about the investment,optimize the investment portfolio,and thus allocate the limited resources.Under the base of the existing literature and practices of research,a set of quantitative research evaluation indicator system is proposed.With application of factor analysis method and combined with the status quo at home and abroad,three main factors （development factor and debt repayment factor and profitability factor） can extract and give an objective appropriate weight. 90 listed companies are analysed whose financial data in order to draw meaningful conclusions,thereby enriching and developing the current company performance appraisal methods in our country.

关 键 词：因子分析 每股收益 财务绩效 

分 类 号：F830.91[经济管理—金融学]