基于直觉模糊网络分析法和二元语义的文化创意企业价值评估方法

doi:10.12005/orms.2020.0019

摘要/Abstract

摘要： 在股权转让、抵押贷款、上市、兼并与重组时,准确的评估企业价值有助于管理者和投资者作出正确有效的决策。根据文化创意企业的特点,提出从财务和非财务两方面对文化创意企业的价值进行评估。财务方面采用贴现现金流法进行估计。非财务方面,从企业的经营性、创意性、成长性和带动性四个方面选取指标,构建具有相互作用和反馈关系的网络指标体系。为更好地表达不确定条件下专家或决策者的意见,引入直觉模糊偏好关系建立判断矩阵。结合二元语义综合评价方法得到非财务因素对企业价值的影响。最后以上市公司中南传媒为例说明如何应用本文提出的方法。

关键词: 直觉模糊网络分析法, 价值评估, 二元语义, 贴现现金流, 文化创意企业

Abstract: Accurate assessment of corporate value in equity transfer, mortgage, listing, merger and acquisition helps managers and investors to make correct and effective decisions. Based on the characteristics of cultural and creative enterprises, this paper puts forward the idea of evaluating the value of cultural and creative enterprises from both financial and non-financial aspects. The financial aspect is evaluated using the discounted cash flow method. For the non-financial aspects, the indicators from the four aspects including business operation, creativity, growth and driving are selected, and a network systems with interaction and feedback relationships is constructed. To better express the opinions of experts and decision makers under uncertain conditions, intuitionistic fuzzy preference relationships are introduced to establish the judgment matrices. Combined with the 2-tuple linguistic comprehensive evaluation method, the influence of non-financial factors on the value of cultural and creative enterprises is obtained. Finally, taking the valuation of listed company China South Publishing & Media Group as an example, this paper illustrates how to apply the proposed method.

Key words: intuitionistic fuzzy analytic network process, value evaluation, 2-tuple linguistic, discounted cash flow, cultural and creative enterprises

中图分类号:

F253.4

周晓光, 肖喻, 何欣. 基于直觉模糊网络分析法和二元语义的文化创意企业价值评估方法[J]. 运筹与管理, 2020, 29(1): 148-156.

ZHOU Xiao-guang, XIAO Yu, HE Xin. Value Evaluation for Cultural and Creative Enterprises Based on Intuitionistic Fuzzy Analytic Network Process and 2-tuple Linguistic[J]. Operations Research and Management Science, 2020, 29(1): 148-156.

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