A Study On The Influencing Factors On Listed Agribusiness' Financial Performance In China

Agricuture is the foundation of national economy in China, and the government has paid more and more attention to the issues of agriculture. Listed agribusiness is a representative of the advanced agricultural production force in China, so it would have promoted the overall national economy development, unfortunately however, due to the size, ability and performance of China's listed agricultural companies, the role of these companies have not been fully manifested.In this paper, we evaluated the performance of agricultural listed companies, analyszed factors affecting the performance of these companies, and studied on how to improve the performance and to maintain sustainable growth. The conclusion of the study is of great significance in increasing both listed agricultural companies and national economy increasement.We select 42 listed agricultural companies and pick their annual report as the model sample, use Return of Earning (ROE) rate and Earnings per Share (EPS) to evaluate their financial performance, we also take advantage of SPSS16.0 software to inspcet the major factors. Results showed that the size of enterprise, capital structure, equity concentration, assets management capability, government subsidies and other factors affect the performance largely, results suggested that manager should focus on different factors which are highly related to where the company is mainly target on .This paper is composed of the following five sections:The first part is introduction, of the significance about the research, and progress summrize in both domestic and foreign countries, as well as methods and technical routes.The second part of this study is theoretical basis and related measurement model. We finally decided to use multiple linear regression and mixed data model for analysis.The third part is started from China's agricultural financial performance portrait, which is followed by comparison of region and type. The results showed that the financial performance is not well balanced, the central region listed agricultural companies performed better than the eastern and western regions; companies which are of animal husbandry products type show better than planting type companies.Part IV established econometric model by means of multiple linear regression method, from the overall performance of listed companies to analyse the major factors, then we did sample analysis of company data by category seperately, the final interpretation and explaination are derived from model simulation and results comparation.According to the former outcome, the last part gives the policy recommendations: ownership structure should be adjusted to reduce debt and enhance assets management capabilities and enhance their own economic level, the government should create and maintain an favorable, preferential environment and policies sush as tax subsidies and income subsidies, on the contrary, listed agricultural companies can not rely on government subsidies to keep itself fit and profitable.