Evaluation of enterprises liquidity value based on the relative entropy-topsis

The financial crisis occurred in the recent years has provoked managers to pay more attention to liquidity risk, especially the effect to the enterprise value. According to this, the paper gives an aspect to evaluate enterprise value from the view of liquidity. Firstly, choose indicators to describe the liquidity. Then, establish the optimization model based on the principle of relative entropy which is between the objective and subjective evaluation result, and then get the weight proportion as well as the importance of objective and subjective evaluation results to the combination weigh. Finally, construct an evaluation model with topsis, which not only considers both the experts opinions and objective information, but also gets a more comprehensive result with the spatial concepts.