Study On Regional Differences Of Listed Companies In China

Listed companies play an important role in market economic in China. However, the regional differences of listed companies'development are showing clearly and affected the local economic development. It is necessary to explore the causes of the regional differences in development of listed companies. The article mainly analyzes these causes of regional differences in listed companies in order to make healthy development of listed companies, to advance economic development and narrow the economic gap among regions. Listed companies have been developing rapidly since the establishment of the securities market. The number of listed companies has reached more than 1,400. However, listed companies in various regions make big differences. The country is divided into three major regions (including the east region, the middle region and the west region).This article analyzes the numbers, industry structure, financing of IPO and the efficiency differences of listed companies in several major regions. It is the results of big differences in the numbers, industry structure, financing of IPO and the efficiency of listed companies in various regions. The mainly difference is ones between listed companies in the east region and these in the middle region, the west region. The article analyzes the causes of regional differences in listed companies, and it comes to the results that physical geography, national institution and policy, industry structure and other factors related with the development of listed companies. Because of the excessive government intervention and regional economic differences, industrial distribution of listed companies in the middle region, the west region has no the region's comparative advantages. Defects of related systems and institutional policy are the deep-seated reasons. The difference between this article's studying and similar studies is that it analyzes these causes of regional differences in listed companies, and finding the root of difference between listed companies in various regions.The article includes four chapters: Chapter 1, recalls the development of China's listed companies, divides it into three periods: start-up period; fast-growing period; regulating-market period. Chapter 2, calculate and analyze the differences between the listed companies in China, focused on the analysis of the differences of the number of distribution, capital structure, industry structure, IPO financing and the level of performance. Chapter 3, focuses on the causes of differences in listed companies. Chapter 4, give relevant policy recommendations.