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.
Highlights
Travel agency is a bond to link all related factors of tourism and plays a very important role in enhancing tour-How to cite this paper: Fu, Y.X., Li, Q. and Feng, H.Y. (2015) Study on the Comprehensive Financial Performance and Provincial Difference of Travel Agency Industry of China—Based on Catastrophe Progression Theory and Entropy Method
Some scholars have made effort to explore the evaluation on growth of over-margin profit [8], a system of performance evaluation of travel agency in China based on entropy method [9]; Yang Yan did empirical study on outbound travel of 16 travel agencies in Nanjing via linear weighting method and DuPont analysis [10]
The factors which cause difference to comprehensive financial performance of travel agency industry of different provinces are divided into two facets: uncontrollable factors and controllable factors
Summary
Travel agency is a bond to link all related factors of tourism and plays a very important role in enhancing tour-How to cite this paper: Fu, Y.X., Li, Q. and Feng, H.Y. (2015) Study on the Comprehensive Financial Performance and Provincial Difference of Travel Agency Industry of China—Based on Catastrophe Progression Theory and Entropy Method. The main cause of low performance is property rights [2] [3]; competitive efficiency is the factor to affect performance of travel agency pointed by Yang Hui [4], and he indicated that the environment of effective market competition formed through reforming system is an essential way which can improve the performance of travel agency. Some scholars have made effort to explore the evaluation on growth of over-margin profit [8], a system of performance evaluation of travel agency in China based on entropy method [9]; Yang Yan did empirical study on outbound travel of 16 travel agencies in Nanjing via linear weighting method and DuPont analysis [10]
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