A Research On Financing Structure And Business Performance Of China Agricultural Listed-companies

Since ancient times China is a large agricultural country. Agriculture as the basis for supporting the country which relates to the country's economy, stability and development always has been valued by successive leaders. At present, the financial crisis caused by the U.S. sub-prime mortgage crisis has not gone over. China's economy has gone through the most difficult year since the new century. In such a complex environment, how to make China's economy develop steadily and healthily is a question to which decision-makers should consider seriously. Agriculture plays a very crucial role in the process that China's economy turns away from difficulties to good development. If agricultural listed companies, as the advance party of agriculture, the representative of the advanced productive forces in agriculture, could develop healthy become the key in the key. At the same time, agricultural listed companies is also charged with the promotion of industrial management of agriculture, improve the quality of agricultural products and agricultural operational efficiency, enhance the international competitiveness of China's agriculture, agricultural science and technology, accelerate the realization of China's agricultural modernization.In the above context, this article analyzed listed companies in the development of China's agricultural situation and present situation of financing structure, obtained listed companies of China's agriculture is characterized by the preferred debt financing, followed by equity financing, endogenous financing. This financing structure is different materially from modern corporate finance theory. The next article selected 12 indicators of financial data from 35 agricultural listed companies to represent the company's operating results, and to establish evaluation index system of operating performance of the agricultural listed companies. Calculate the market value of the company's operating performance by using the factor analysis method. Then the value of performance is interpreted as a variable to the financing structure variables explanatory variables, using SPSS13.0 analysis the regression between the two pairs .The conclude is :endogenous financing ratio,debt financing ratio and operating performance do not exist apparent positive correlation or negative correlation.;The proportion of equity financing exist the apparent negative correlation with integrated performance. Finally, this article put forward some suggestions and measures to improve agricultural financing structure and business performance of listed companies from the external environment angle and the enterprises themselves angle.