Evaluation On The Operating Performance Of The Privately Owned Listed Companies

During the development of securities business for more than ten years, the most listedcompanies were companies being control by nation-own companies. Because its goal atsecurities business initial bound was serve as reform of state-owned enterprises. At recentyears, however, the numbers of private enterprises have been increasing among listedcompanies due to important has been increasing of private economy in our economy dayand day. There is a trend to accelerate capacity expansion for Private listed enterprisesthanks to policy pilot of nation ministry of finance that work of transfer from stateownedstocks to Private enterprises and a fair competitive condition for various system enterprises.Especially, Private economy had become a vital colony at Chinese securities business as aresult of come into the securities business of middle-little enterprises. Private enterpriseshas been making major contribute to our nation economy and became a new impulse to oureconomic development. Evaluating private listed companies' operating performanceseffectively is not only an important problem but also count for much about the wholenational economy. Therefore, taking private listed companies as an example, this paper hastested to privately owned listed companies' operating performances by the factor analysisevaluation method in 2005.At first, this paper has asked the question and explained the selected topicsignificances. It has carried on the summary to the domestic and foregn operatingperformance literature and proposed this article research mentality and innovation places.Then, it has produced definitions of the performances and evaluation on the operatingperformances. and has elaborated the operating performances theory namelyMacro-economic regulation and control theory, Capital preserves the theory, Entrusts theagent theory, Investment theory and Business management theory. Next, it has analyzedthe performances evaluation target systems and the targets situation to carry on the analysis.Once more, it set up a factor analysis evaluation system, designed a factor analysis modeland showed its solution. This paper has given empirical analysis on an application of thefactor analysis evaluation method to evaluate privately owned listed companies' operatingperformances through taking privately-owned listed companies as an example in 2005.Moreover, it has taked a classified analysis both in the macroscopic and in the microscopicand analyzed purposefully that representative companies. Besides, the paper has analyzedcomparatively factorial scores during 2003 to 2005. Finally, it has brought forwardsignificative opinions and advices. After this paper has conducted the research systemlyand thoroughly in our privately owned listed companies' operating performances, has discovered the main finance refers that may reflect the operating performances. These mainfinance refers may improve interior management of privately owned listed companies andprovide has the practical significance the theory and experience for exterior supervisingand managing department and the investors carry on the policy decision-making and theinvestment decision-making. It Not only will be allowed to carries on the place to theprivately owned listed companies' various factors which the company will study to scorepoints with the total factor scores points separately using the factor analytic method,evaluate the operating performances company's management achievements, discoverecompany's in analysis target fit and unfit quality and the influence company operatingperformances the key indicators, but also through the year comparison examination,understand privately owned listed companies' development tendency that will go on themarket company, and give the policy comment and the suggestion for privately ownedlisted companies' further development...