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- Title
Combining Grey Theory and Principal Component Analysis to Evaluate Financial Performance of the Airline Companies in Taiwan.
- Authors
Tung Che-Tsung; Lee Yu-Je; Wang Kuo-Hsien
- Abstract
This study combines the advantages of grey theory and principal component analysis (PCA) to evaluate the financial performance of four main listed Taiwanese airline companies. The grey relational analysis (GRA) matrix was introduced to replace the correlation matrix of the traditional PCA. and build an evaluation model of grey principal component analysis (GPCA). Based on this model, this study adopted the TEJ Data Base to trace changes in the financial performance of those four companies during seven half-year periods. The results show a good evaluation effect and successful verification of a company in a financial crisis.
- Subjects
TAIWAN; PRINCIPAL components analysis; FINANCIAL performance; AIRLINE industry; STATISTICAL correlation; FINANCIAL crises
- Publication
Journal of Grey System, 2009, Vol 21, Issue 4, p357
- ISSN
0957-3720
- Publication type
Article