Evaluation Studies, Capital Operation Based On The Factor Analysis Model Of Aeronautics And Astronautics Listed Companies

Aerospace industry has always been greatly supported by local and central governments as one of the important strategic industries that promote overall national strength and defend national security. Recently with the introduction of the new idea of capital operation in this domain, there is an opportunity for aerospace enterprises to take advantage to achieve the goal of most efficient resource allocation and maximization of capital's increment capability. However, the capital operation of aerospace enterprises in our country at present is not so satisfying, in which there are plenty of faulty practices that a profound study on it seems quite necessary.The cases and data of listed aerospace enterprises, as the representatives of this type companies in our country, are more attainable, so this paper selected 18 listed aerospace companies as the study object. The paper firstly evaluated the status of capital operation of listed aerospace enterprises in our country based on related basic theory and mode from a qualitative perspective, and analyzed some primary existing problems in the operation process. After that 15 evaluation indexes were restrainedly selected from five types of operation capabilities, including capital profitability, repaying ability, capital circulating ability, capital expanding ability and operating capital rate, and proved their reliability and stability as a evaluation system using data-reliability analysis approach. Afterwards, an evaluation model on capital operation capacity of listed aerospace enterprises was constructed through Factor-analysis model based on analyzing the data's consistency. Then the following step was computing individual score of capital profitability, capital liquidity ratio, capital circulating efficiency, capital expanding capability and operating cash flux as well as a synthetical score of them according to the basic process of Factor-analysis conjunct with SPSS, and having made a quantitative compare and evaluation of capital operation capability in these selected aerospace companies. And finally some related countermeasures for enhancing the capital operation capability of aerospace enterprises were proposed based on these quantitative and qualitative evaluation results.