A Study On The Agricultural Listed Companies' Efficiency Of Finance And Investment

This paper confers the study of the agricultural listed companies' finance and investment efficiency .By the theoretical and empirical analysis on the newly EVA. EVA computes the opportunity cost, which is clearly different from the traditional financial indexes, and it reflects the economic profit.Firstly this paper introduces the agricultural listed companies' background and development concisely. At the same time we refer the agricultural listed companies' things of agriculture-reversion. After that we analyze its financial structure and explain the resource of the character of the financial construct. At last we appraise the efficiency of the agricultural listed companies' investment through the index of EVA. It is concluded that agricultural listed companies undertake investments in a low efficiency. More than 50 percent of the agricultural listed companies are not worthy of investment. The agricultural listed companies cannot afford the responsibility of increasing the peasants' income totally.In the end of the paper we make further conclusion and apply the real option theory to explain the conversion-agriculture, and give some suggestions.