ABSTRACT
A growing literature has emerged on the performance evaluation of listed companies of the defense industry in China. Bo Zhang (2006) made a study on the relationship between capital structure and company’s performance by two-way empirical study and built a regression model to test the influence of the chosen variables; Min Huang (2007) used Balanced Scorecard for reference on designing evaluation index and applied the Delphi Method to calculate the weight in each index system; Jing Li (2008) constructed the synthetical appraisement index of corporate performance using factor analysis. The selected synthetical appraisement index could conquer the insufficiency of single index and simple weighted synthetical appraisement on the corporate performance. Xian-min Xie (2009) considered the character of comparative predominance of the underling enterprise in the group and advanced a method of achievement evaluation of enterprise based on the character of comparative predominance. Sheng-xiang Sun and Shu-yu Zi (2009) proposed an evaluation model based on multi-objective multi-person decision and integrated Fuzzy mathematics and genetic algorithm to solve the problem that qualitative indexes and quantitative indexes are hard to measure and the problem that decision-maker’s preference is unknown effectively. Fang-yuan Li (2012) analyzed the industry characteristics and performance evaluation’s current situation of China’s defense enterprises with the idea of DEA, and did the efficiency analysis, scale analysis, projection analysis, sensitivity analysis and improved analysis of the target based on CCR model calculation results.
