Study On Competitive Evaluation System Of Chinese Listed Retailing Companies

In recent years, the retail enterprises have developed rapidly and promote the reform of the structure of the economy. Particularly, because of the financial crisis since 2008, traditional industry had to face tremendous pressure; however, the retail companies have also performed quite well to resist the negative impact of the external environment. In this context, the local retailers have formed their own competitive advantage. But compared to the foreign retailers, the local are quite at odds with them whether in the fund or the management. Under the trends of globalization, local enterprises can no longer rely on the government's "protect umbrella", they can only depend on the operation of their own to win in this fiercer competition, which requires enhance their competence. In order to win, first of all, the companies should know themselves clearly, which require the comprehensive and scientific evaluation on the performance. By compared with other enterprises in this industry, the company can understand their advantages and disadvantages better and can allocate the limited resources more effectively.The competitive evaluation is a important area of the strategic management that has always been studied by the domestic and international professional organizations and scholars. But in the first several decades, most of the studies concerned on the theoretical analysis until the last 20 years, there are some scholars using quantitative methods to do the research. Such as the"Fortune 500", the "Business Weekly" and some domestic finance institutions have published the evaluation results, which reveal the quantitative research will be done more deeply.Different from the traditional industrial enterprises, the retail companies communicate with the consumers directly, their core function is transmit the products or service to the consumers not use the advanced technology or superb craftsmanship to make product. So in the transmission process, the key point is the operational efficiency. Now that, the evaluation of the competitiveness of retail enterprises should consider the character of them, particularly in choosing the dimensions and indicators.By reviewing literature, this paper summed up domestic and foreign researches and found that the evaluation of the competitive mainly on the strategy, retail type and effective factors, rarely on empirical researches. What's more, most of the empirical studies were the comparison is between the local and foreign companies. But the paper believes that the comparison among the local companies that under the same context is more meaningful.And then, the article selected 78 listed retailing companies to observe their operations. It summed up the former literatures and extracted 24 indicators that have been proved related to competitive from a number of indicators, which is as the basis of the research. Next, it analyzed and compared the academic evaluation methods which have been used usually, and chose the most appreciate method - factor analysis- to do the data deduction with the tool of SPSS 15.0 Data Analytic Software.At first, it pre-test the indicators'discriminate validity by independent sample T test, some indexes which are not approach to the level were deleted. Then, the reliability of the scale was tested, the results shows that all the left indexes are appreciate to the research. And next, the important factor analysis was been used to classify the indicators, and adjusted the dimensions by Varimax rotated, eventually, the scale was deducted into 5 dimensions including 16 indicators: the capability of scale, profitability and operating capacity, asset manages mental capacity, the capability of development and the human resources management. Last not the least, all the indexes'weights were been identified. The size is related to the economics of scale and significant to retailing companies, so many companies would like to expend the size to optimize the allocation of their resources to reduce the costs and enhance the anti-risk ability. Profitability and operational capacity is reflect the enterprise's ability to activate the assets, let the assets more liquid and improve the financial standing. The asset manage mental capacity mainly reflects the operation efficiency which not only affect the company's profitability, but also affects the dividend distribution of listed companies directly. The capability of development demonstrates the further prospects of the enterprises which promotes the company continues to gain more competitive capabilities in the future. The human resources management capacity, reflecting the company's management, will be the key breakthrough of the contend in the new competitive environment. After that, the article measured the reliability and validity of the evaluation system by confirmatory factor analysis(CFA) and have a satisfying results.Finally, the article analyzed the data of the collected 78 companies, and rated their competitive scores. The results demonstrated that Sunning ranked the top, and other outstanding enterprises such as, Bainian Group, Beijing Hualian,Wuhan Zhongbai etc. are in the forefront. These companies are also in the top 500 Chinese enterprises list which published by other institutions with the different method. And all above shows that this evaluation system has its applicability. The article also analyzed each company's scores of the five factor and explained the results. It is found that the top-ranked companies have great advantages in scale capacity.The evaluation system this article established has fully considered the characteristics of the retail enterprise and has a comprehensive reflection of all aspects of the company. It shows that the company cannot just focus on the current situation but also should pay more attention to the long term development. The company should balance the growth and the management to achieve a all-round development. The evaluation as well as referenced companies to understand themselves more clearly.