基于K均值聚类算法与TOPSIS熵权法结合的市场法改进研究——以鱼跃医疗股权价值评估为例  

Research on Improvement of Market Method Based on K-means Clustering Algorithm Combined with TOPSIS Entropy Weight Method——Taking Yuwell Equity Value Evaluation as an Example

作　　者：封怀宇 胡兵 钱坤[2] 刘诗瑶 Feng Huaiyu;Hu Bing;Qian Kun;Liu Shiyao

机构地区：[1]江苏华信资产评估有限公司,江苏南京210000 [2]南京财经大学会计学院,江苏南京210000

出　　处：《中国资产评估》2023年第10期53-64,共12页Appraisal Journal of China

摘　　要：在资产评估市场法的使用过程中,执业准则要求对可比公司价值比率进行合理修正,实务中评估人员多以定性分析的方式,综合各因素,判断选择可比公司并修正价值比率,评估结论受主观判断的影响较大。本文将基于K均值聚类算法,量化可比公司个体特征,从定量分析的角度在同一行业众多的公司中挑选出合适的可比公司,并通过TOPSIS熵权法修正价值比率。本文以鱼跃医疗股权价值的市场法评估为例,对上述方法适用性与准确性进行论证,为资产评估实务中市场法的应用提供一定的参考。In the process of using the market method of asset appraisal,the practice standard requires reasonable revision of the value ratio of comparable companies.In practice,evaluators usually judge and select comparable companies and revise the value ratio by means of qualitative analysis,integrating various factors,and the evaluation conclusion is greatly influenced by subjective judgment.Based on K-means clustering algorithm,this paper quantifies the individual characteristics of comparable companies,selects suitable comparable companies from numerous companies in the same industry from the perspective of quantitative analysis,and revises the value ratio by TOPSIS entropy weight method.This paper takes the market method of equity value evaluation of Yuwell as an example,demonstrates the applicability and accuracy of the above method,and provides a certain reference for the application of market method in the practice of asset appraisal.

关 键 词：市场法 K均值聚类算法 TOPSIS熵权法 价值比率 

分 类 号：F275[经济管理—企业管理]