The principal component analysis and evaluation of financial performance for enterprises based on cash flow information an empirical data from Chinas power listed companies in 2008
Currently, the principal component analysis (PCA) is mostly carried out under traditional financial indicators. Few scholars have adopted new ratios to make a PCA, since cash flow information was introduced to the financial evaluation index system. This paper selects 33 power enterprises from Shanghai and Shenzhen stock markets as samples, and chooses financial evaluation indicators based on cash flow information as original variables. Subsequently it extracts four principal components (PCs) that are able to reflect financial position of selected firms through the PCA. Finally the article lists the ranking of each principal component and comprehensive performance for all these firms by calculating the principal component scores, and moreover, explains the ranking clearly. Each ranking is of great importance in guiding external information users to make investment decisions and internal managers to evaluate financial performance.
cash flow information power listed company financial evaluation pca
Li Tao Guo Xiaojing Zhou Ningning
School of business and management North China Electric Power University Beijing, China
国际会议
成都
英文
291-296
2010-07-09（万方平台首次上网日期，不代表论文的发表时间）