Study On Growth Evaluation Of Listed Companies In China

Enterprises are the economic system cells and the carrier of the national economic development. Moreover growth is the soul of enterprises, the life of stock market, and the main driving force for national economic sustainable development. In another way, whether enterprises can maintain economic growth in a sustained and stable way and increase the rights and interests of the value of capital, are the most fundamental and objective criteria for the survival and development of enterprises. The growth of listed companies is the foundation and premises for the stock securities business'prosperity. Healthy securities business needs national investment behavior, and rational investment behavior can't deviate from potentially healthy developing listed companies. The study on growth evaluation of listed companies is very important to investors, creditors or the listed company itself in this context. Therefore, the study on growth of the enterprise is arousing more and concern from academics, in which growth evaluation is one of the hot spots. Many factors influence the growth of enterprise, so different point of view will lead to dissimilar conclusion. This paper tries to establish a simple and feasible growth evaluation system for the listed company, by studying the listed company's finance resource.Firstly we made extensive and in-depth data collection and read the literature, compared and analyzed the date, at last we established the growth evaluation system of the listed companies using the management, economics and system science theory and made an example for house hold appliance industry. The holistic route of research was: first, we analyzed enterprises'cash capacity via factor analysis, and gained the score of enterprises' cash, and then obtained the relative order of the growth evaluation using the gray correlation analysis method, lastly, made regression analysis, in order to receive the relationship from the growth factor.We analyzed various types of evaluation index system and evaluation methods, by tracking and hackling the former research literature of the growth evaluation. Although many scholars have made the studying on growth evaluation of listed companies, most of them followed the enterprise performance evaluation system, in another words most of them base their research on financial ratios. Therefore, we used current liabilities, total liabilities and total assets, the main business income and business activities generated net cash flow for our preliminary research variables. We reveal the growth of enterprises by analyzing the changes of the liabilities, assets, structure between assets and liabilities and the cash capacity. This paper analysis the cash capacity, relative growth order and growth forecast of China's household electrical appliance listed companies, using the 2001-2006's date. The main conclusions are that we get two scores of the cash, gap between the two scores and the integrated scores by calculating the date. Thus, we can judge consolidated cash flow situation of the enterprises, revealing the actual situation of the enterprises; We get various enterprises horizontal comparison via Grey Relation Analysis; Through regression analysis, growth of the net assets and main business revenue eventually enter the regression model which approve the idea of specialization emphasized by many scholars.In conclusion, this paper confirms our assumptions"China's listed companies contained in financial resources can be predicted future development of information on the status of factors, the growth of the listed companies with predictable"is correct, overpass a series of theoretical and empirical analysis. However, the study also has a lot of limitations, because the choice of model and some objective factors. In the future study, we strive to seek more reasonable model, in order to eliminate the impact of the objective factors a greater extent, reflect the actual growth state of enterprises more objective.