Research On Financial Competitiveness Of Chinese Listed Companies

There has been a long history at home and abroad when the research about competitiveness of enterprises began, and the research results are becoming more and more mature. Based on this, this thesis focuses on the financial field, mainly in the context of competitiveness of enterprises and financial management theory; proposes the concept of the financial competitiveness. The financial competitiveness is a kind of financial innovation that draws lessons from competitiveness of enterprises and is based on the view of strategic management and economics. As a new field of modern financial academic system, it provides a new way of thinking and developing finance and has a very important meaning.Firstly, by studying existing and relevant research results, this thesis analyzes the present results of the financial competitiveness, from this draws out the text's research angle and content. This thesis mainly selects the research method which combines the regular analysis and the empirical study to research listed companies'financial competitiveness in our country. In the regular analysis, this thesis focuses on introducing the definition, the characteristic, the forming key elements, the forming process, the influential elements and the evaluation of financial competitiveness of enterprise. This thesis synthetically carries on a research to the basic theories of financial competitiveness of enterprise, sets up the theories system of the financial competitiveness and carries on theories analysis of the relation between the financial competitiveness and the enterprise value. Based on the basic theories of the financial competitiveness which has been formed, this thesis sets up the fixed quantity evaluates system of the financial competitiveness. In the analysis of the comprehensive evaluation, this thesis applies the factor analysis in the research of financial competitiveness with the research sample of A-shares Chinese manufacturing industry listed companies in 2007.As a result, this thesis comprehensively evaluates the financial competitiveness of Chinese manufacturing industry listed companies and carries on the quantification to the financial competitiveness. Based on the quantification to the financial competitiveness, this thesis analyzes the relation between financial competitiveness and the enterprise value and the current situation of Chinese listed companies'financial competitiveness using the descriptive statistics, the correlativity analysis, multiple regression, EXCEL and SPSS13.0.This thesis has a conclusion that it is remarkable positive relation between listed companies'financial competitiveness and the enterprise value and points out the existed problems of the financial competitiveness of Chinese listed companies. The existed problems of the financial competitiveness of Chinese listed companies include: the whole level of the financial competitiveness is not high; its development mode is imbalanced, and its integrant part is imbalanced. Finally, this thesis proposes some suggestions of the cultivation and improvement of Chinese listed companies'financial competitiveness on macroscopic and microcosmic views. The suggestions include: establishing an enterprise management system which takes financial management as a central; taking the financial competitiveness maximization as the target of the financial management; forming a financial culture of special features; changing the focus of the organization of the financial management; establishing a system of financial capability; establishing a system of financial strategy which is based on the view of competition.