TITLE:
Study on the Comprehensive Financial Performance and Provincial Difference of Travel Agency Industry of China—Based on Catastrophe Progression Theory and Entropy Method
AUTHORS:
Yunxin Fu, Qiong Li, Haiyan Feng
KEYWORDS:
Travel Agency Industry, Comprehensive Financial Performance, Catastrophe Progression Method, Entropy Method
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.5 No.2,
February
28,
2015
ABSTRACT: The performance of travel agencies has always been the focus and its quantitative evaluation is also an important study field. From financial view, the catastrophe progression method and the entropy method are used to build a evaluation indicator system of comprehensive financial performance for travel agency industry applying statistical data of the major financial indicator of travel agency from 2005 to 2012, and then empirical research on comprehensive financial performance of travel agencies from 30 different provinces, except Hong Kong, Macao and Taiwan regions and Tibet is made. The result indicates that when the financial performance of travel agency is measured, profitability is the most important indicator, followed by development, solvency and asset management capabilities; through empirical research, the financial performance of travel agencies from 30 different provinces is evaluated and ranked. Finally the reasons are discussed.