Empirical Research And Suggestion On Enterprise Competence Of The Listed Agribusinesses

With the fast development of the modern market economy of our country, the development model of enterprises changes the orientation from resource to market, It must have strong competitiveness that enterprises want to win their rivals. Listed companies are mostly outstanding ones of the trade which they belongs to, their achievement is reflection of the whole trade, its competitiveness level can represent competitiveness in this trade of the country, and can offer reference for the macroscopical policy of the country. From the point of view of listed companies, as a relatively independent unit, should understand one's own position in the trade, and take the corresponding measures to improve and upgrade its achievement though the study of contrast on enterprises competitiveness. Because of the weakness of the agriculture of our country, such questions as "abandoning agriculture" phenomenon, capital structure are unreasonable, etc. emerged in the course of development of listed agribusinesses, the study on the competitiveness of the listed agribusinesses will contribute to find the origin of the questions and solution.I selected 30 listed agribusinesses from stock exchanges of Shanghai and Shenzhen as the sample, adopted the statistical data from China's Securities Regulatory Commission, stock exchanges of Shanghai and Shenzhen and 2003 annuals, utilized the factor analysis to their competitiveness from 5 angles, viz. scale, profit, debt, operation, development. The mainly conclusions of the analysis are follows:(1) Compared with other trades, the listed agribusinesses is in inferior position on sales, benefit, and capital structure; The listed agribusinesses distributed balanced in the whole country, also in trade participation basically, slightly difference just in the development of sub trade;(2) The equity ownership structure of the listed agribusinesses is unreasonable in theory, but the dependence of the agricultural preferential policy brought by large proportion of the state-owned stock is stronger at present; The situation that the listed agribusinesses participate in the non-agricultural industry is more and more serious, among them few companies which can harmonize the leading business development with other trades effectively, and utilize the characteristic of the non-agricultural trade with high repayment to reinforce agriculture, theleading business, have promoted the further development and improvement of companies' whole competitiveness. But most enterprise has produced the negative effect to the long-term development of the companies because of participating in too many trades, for taking companies too much resource and influencing well-balanced operations;( 3 ) The management to the account receivable and debt is the key part of the operation of the listed agribusinesses; The level of the science and technology is an important factor of influencing enterprise's core competitiveness too.Basing on the conclusions above, and combining the development of the listed agribusinesses of our country, I had set out my suggestions for promoting the competitiveness of the listed agribusinesses, mainly include:(1) Expanding the scale of the listed agribusinesses, improving the capital structure of them;(2) Utilizing the preferential policy rationally, developing leading business effectively, increasing the scientific and technological content of agricultural products;( 3 ) Strengthen the management to the account receivable and debt;(4) Improve the social jural environment, advance the establishment and execution of relevant laws and regulations.The innovation of my paper include 3 parts: Construction of enterprise's competitiveness evaluation index system; Utilize in the listed agribusinesses with the factor analysis; Analyze and discussion in classify according to enterprise's competitiveness rank. Though a lot of scholars have carried on relevant research on enterprise's competitiveness at home and abroad, and had established the index system for evaluating enterprise's competitiveness, but has no the analysis of the listed companies of the agricultural trade, and does not have unanimous view to analysis index and method of enterprise's competitiveness of every trade. The paper based on the core capability theory, has set up the index system for evaluating competitiveness of listed agribusinesses, then used the factor analysis to study it, find out the origins and measures for the question appearing in the development of the listed agribusinesses.