Comprehensive evaluation of small and medium enterprises

doi:10.3969/j.issn.0253-2778.2018.06.005

Abstract

Abstract: In order to solve the problem of inconsistent evaluation results and incomplete evaluation aspects in previous enterprise evaluation models, this paper constructs a comprehensive evaluation model(CEM), which exploits the advantages of each algorithm and improves the accuracy of the evaluation results. Firstly, the model establishes the evaluation index system from seven aspects including growth force, competitive force, financing force, team force, opinion force, external force and innovation force, and filters the indicators from three aspects. Secondly, it uses three independent, methods to evaluate enterprises, based on the combination of subjectivity and objectivity, and checks the consistency of these three results by Kendall-W co-ordination coefficient. Thirdly, two algorithms, which are arithmetic average and factor analysis, are used respectively to combine the three results above. Fourthly, the correlation between independent evaluation results and combined evaluation results is computed and the more accurate model is selected by spearman rank correlation coefficient. Finally, the model evaluates 3430 small and medium enterprises from the new over-the-counter market of China, based on their three-year data (from 2013 to 2105) and verify the validity of the result from two aspects, which are performance (net profit growth rate, main business margin, main business growth rate) and stock market value.

Key words: CEM, analytic hierarchy process, objective weighting method, consistency check, combination evaluation algorithm

CLC Number:

TP391

DU Xiaoping , ZHAO Kaiqi, YUAN Wei, YANG Qinghong, ZHANG Jianwei. Comprehensive evaluation of small and medium enterprises[J]. Journal of University of Science and Technology of China, 2018, 48(6): 467-476.

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