Applying Grey Relation Analysis On Financial Risk Assessment-A Case Study For Listed Household Appliances Industry In Taiwan-

• Main Authors: Han-chao Chen, 陳漢昭
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/37781732927719679197

碩士 === 國立中央大學 === 財務金融研究所 === 99 === In 2008, the old brand listed household appliances company KOLIN(1606) in Taiwan was broken financial crisis, because its large amount account receivable''s taking cash question, and low-spirited out of stock In November 6, 2008, the investor was injured seriously, and makes one sob extremely. Why will always gives to investor the established brand steady kolin (1606) also to have an accident? Therefore this research because of this matter, by financial norm and attempts by the risk angle concept to discusses the company’s management achievements question. This research use Grey Relation Analysis offered by Professor Deng Julong(1982) and Shannom(1948) Entropy Weighting Method, twenty three financial indicators which obtains by the financial statement, to assess household appliances listed companies in Taiwan annual management achievements place. Moreover, from the risk angle''s concept, tries to discover the important financial risk index in many financial information, by financial risk target which was selected, confirms how the difference ability of the relative risk degree in the electrical industry company management achievements? Provides populace invests the information which provided by the financial statement, to avoids the risk degree relatively high companies, This paper gets the following results : 1. Between 2003 and 2007, the average management achievements assessed by twenty three financial index: SANYO(1614) was the first, TATUNG(2371) was the second, TECO(1504) was the third, KOLIN(1606) was second to last, SAMPO(1604) was the last. 2. In twenty three financial index, the extract comes out to represent financial risk variable index first five is in order: cash ratio, interest safeguard multiple, quick ratio, the long-term fund account for the fixed asset ratio, the current ratio. And four items fall on the debt-paying ability this construction surface, therefore family electrical industry in discussion management achievements, the debt-paying ability construction surface has necessary to integrate the analysis and the discussion truly. 3. Between 2003 and 2007, the average risk achievements assessed by five financial index: SANYO(1614) was the first, TECO(1504) was the second, TATUNG(2371) was the third, SAMPO(1604) was second to last and progressively worse, KOLIN(1606) was the last. Therefore, compares the average management achievements assessed by twenty three financial index, its has more differencial strength. 4. Between 2005 and 2009, the average risk achievements again assessed by five financial index and to discover that: SANYO(1614) was the first, TECO(1504) was the second, TATUNG(2371) was second to last, SAMPO(1604) was the last. Therefore the investor must avoid TATUNG (2371) and SAMPO (1604) this two companies.