Growth Of Tourism Listed Companies Based On Financial Indicators

The research based on the present situation that domestic and international tourism grow vigorously,and tourism listed companies become more and more and have grown in strength and status,as well as the research of firm growth has increasingly become a hot trend,takes tourism listed companies in China as an example.The research does an objective depth research about current situation and evaluation method of growth of tourism listed companies in China based on economics,management,securities investment science,statistics,accounting theory by a large number of qualitative and quantitative analysis,such as literature,in-depth interview method,theory and practice methods,interdisciplinary research,compare analogy,factor analysis and the main component analysis.The purposes of this research:①determine the factors effecting growth of tourism listed companies and categories these factors by the system,then establishe a evaluation system of tourism listed company's growth based on the financial indicators,target of providing necessary reference for future tourism listed company's study on the growth;②do a systematic evaluation of empirical research on the growth about all of the tourism listed companies basis of the evaluation index system,and analysis each company's growth;③basis of empirical analysis and different growth result,classify these tourism listed companies in order to provide general investors with scientific guidance for investment.The main settlements of research:①the determination of evaluation factors and these weight of tourism listed companies'growth,and then come to a complete indicators of the company's growth based on finance;②aspect to vertical and horizontal comparison of tourism listed companies' growth,analyse the reasons for changes of tourism listed companies'growth in China over the past 10 years;③basis of empirical analysis and different growth result,classify these tourism listed companies in order to provide general investors with scientific guidance for investment.The pross of the study subject:①background analysis:the development situation of tourism listed companies'growth in China and the gap between China and abroad about growth theory analysis,the need for researching on the tourism listed companies'growth;②questions:on the basis of essence and characteristics and financial impact of growth,summe up the outcome and the future development trends of turism listed companies'growtn study,it is necessary and there is a strong possibility to research tourism listed companies'growth based on financial indicators;③solve the problem:the research on growth evaluation facors based on financial indicators and empirical research of listed companies'growth in China;④research goals:achieve the following objictive based on front study:the determination of evaluation factors,empirical results of tourism listed companies to provide operators and investors for necessary reference.The main conclusions:①on the basis of taking profitability,firm size,solvency,operational capacity,growth inertia,diversified capabilities,capital structure and profitability of shareholders of tourism listed companies as the evaluation of growth factors,which selectes a total of 17 financial indicators to measure the capacity of enterprises' growth is reasonable and feasible;②longitudinal empirical analysis finds that:the tourism listed companies'growth in China is poor totally,stable growth of the company is less than 20%of the total,only includes Lawton Development Co.,Ltd., LANZHOU MINBAI SHAREHOLDING(GROUP)CD.,LTD,Hunan Huatian Great Hotel Co., Ltd.,Lijiang Yulong Tourism Co.,Ltd.and Xi'AN CATERING CO.,LTD..③longitudinal comparison and analysis of 26 listed companies'growth over the past 10 years(because the date of Kunming World Horticultural Exposition Garden Co.,Ltd.is not suitable to do the shares of factor analysis and principal component analysis,only does the analysis of 17 selected factors'changes) findes that,most listed companies'growth over the past 10 years very unstable and volatile,there is ups and downs of the situation.④corporate profitability,operating capabilities and growth inertia of listed companies are the major factors affecting the growth capacity.⑤Hainan Dadonghai Tourism Centre(Holdings) Co.,Ltd.,Emei Shah Tourism Company Limited,Guangzhou Dong Fang Hotel Co.,Ltd.,Hunan Huatian Great Hotel Co.,Ltd.,Shenzhen Overseas Chinese Town Holdings Company,Jinling Hotel Corporation,Ltd.,Huangshan Tourism Development Co.,Ltd.,Beijing Capital Tourism Co.,Ltd.,Changsha Tongcheng Holdings Co.,Ltd.,Shenzhen Catic Real Estate Co.,Ltd.and China CYTS Tours Holding Co.,Ltd.'s growth changes over the past 10 years show a rise in the overall trends,that attests that they will develop well in the future.Innovations of this study:①put forward the financial evaluation index system about growth of the tourism listed companies,using a combination of qualitative and quantitative methods;②establish the evaluation model of growth of tourism listed companies,and achieve a combination of theory and practice according empirical research;③the study is forward-looking research,and the previous did few.The further study:put forward a more comprehensive evaluation model;other statistical tools and methods in evaluating firm'growth;the development and changes of China's macro-economic's influence on growth of listed tourism companies;forecast the changes of growth of tourism listed companies.