Research On Financial Flexibility Of Listed Electric Power Companies Based On Improved TOPSIS

Affected by the wind and development of the political environment at home and abroad,the influence of complex economic situation and new coronary pneumonia,the uncertainty factors facing my country’s business development are increasing,and of course these uncertainties are both advantageous and unfavorable,important It is necessary to prepare for companies to deal with these uncertainty factors.Financial flexibility can help companies should respond,so financial flexibility is increasingly attached to all walks of life.Especially in the electric power industry,with the continuous progress of the reform of the power system,with the bidding Internet,large users direct supply,promote wind power photovoltaic price online,cancel the production of coal-electricity prices and other policies,the power market has gradually established corresponding competition Mechanism,the competition of electric companies is increasingly fierce.The hard requirements of green development and safety production have greatly increased power generation costs of electric companies,and add new crown epidemic on the impact of my country’s overall economic development,so that the uncertainty of the environment in which power companies is in great improvement,electric companies The profit is seriously fell.As an important part of electricity companies,power listed companies,how to evaluate the financial flexibility of electricity listed companies,and then reserve a certain financial flexibility to grasp the future favorable opportunities or flexibly respond to disadvantages,and become a power listed company dedicated to research.problem.This paper uses the research methods combined with the theory and case study.Based on the research objects in power listed companies,based on domestic and foreign research research,based on the basic situation of electricity listed companies,objective scientific analysis of financial flexibility in power listed companies Factors,based on this,the financial flexible evaluation index system of power listed companies is constructed.At the same time,the traditional TOPSIS method is improved by the entropy rights and cosine similarity,overcoming its defects with correlation between weight issues and attribute indicators,thereby forming an improved TOPSIS method model.Then,according to the improved TOPSIS method,evaluate the election of the elevated industry representative and influential,10 power listed companies,the results show that the cash hold ratio,cash dividend payment rate and asset-liability rate affect electricity.The most important factors of the financial flexibility of listed companies,while the financial flexibility of the Yangtze River,the Three Gorges Water Conservancy and Datang Power Generation is higher in 10 electric listed companies.Finally,based on the evaluation results,targeted recommendations have been made to the reserve financial flexibility of electricity listed companies from four aspects of cash flexibility,liability flexibility,flexibility and industry perspectives.