Research On Listed Companies' Performance Evaluation Based On Market Degree

Since reform and opening up, our country has been carried out economic reform along the direction of market-oriented.Market degree is deepening and economic is developing while the comprehensive and balanced development of State-owned enterprise reforming, non-state economic developing, product and factor markets developing, Market intermediaries and the legal system environment improving. During this period, China's capital market develops rapidly in the gradual market-oriented economic environment since the Feile Audio-Visual, China's first stock in 1984. Until November 13th, 2009, the total market value of Shanghai and Shenzhen has reached 23.2011 trillion Yuan which making the listed companies in our country's development has become a mainstay in the national economy. This shows, stock market has become an important part in economic system both at the macro and micro level. People are increasingly concerned about the performance evaluation of listed companies and wish promoting the internal governance of listed companies, enhancing their management, increasing the level of the national economy through the evaluation of the performance of listed companies.Although a large number of domestic and foreign scholars have reached the same conclusion which based on the empirical and theoretical studies: The degree of our market has reached a higher level currently. However, the degree of market is different in each region because the variety of geography, culture, resources and other factors. And in these varying market degrees regions, Securities market is the most advanced, most complicated, most active and best embodying the market rules'market form. So, to realize the stock market's long-term stable and healthy development, we must strengthen the researching and monitoring its market economy environment. According to this point, this article is focus on the correlation between market degrees and listed companies'performance evaluation in different regions. So as to provide information and reference in strengthening corporate governance in listed companies, improving their governance, and promoting the regional economy development.This article contains five parts. The first chapter describes the background and significance of the project, also including the contents and methods, and gives the technology route and innovation points with the research contents. Chapter II is a summary of theory. In this chapter, we reviewed the Market Degree and Listed Companies'Performance Evaluation theory at home and abroad respectively which provides sufficient basis for theoretical study. Chapter III focus on the core of this article on the basis of Chapter II—research on sub-regional Listed Companies'Performance Evaluation. This chapter describes by the logic according to selecting the subjects—establish evaluation index system—select and process the data—sort the results. And then, use the evaluation index system to sort listed companies in various regions which gets the ranking results. In chapter IV, first describe the measurement of market degree briefly by reviewing Chapter II which leads to the ranking results of market degree in different regions. Then study the correlation between this part and the Listed Companies'Performance Evaluation in chapter III, so that obtains the relationship between the two systems and analyses their trends,and the conclusion and explanation of this article. The last part includes possible problems, inadequate research and prospects.