The Influence Of Pulp Price Change On Papermaking Enterprise Performance

Along with the advance of industrial civilization and decades of practice and the test of history in Chinese papermaking industry, the Chinese papermaking industry gradually formed a "take wood as priority" developmental consensus.Under this developmental consensus, and considering the raw material restrains the development of papermaking industry, the state propounds forestry-pulp-paper integration, in order to reduce the bondage of papermaking industry.This study take the listed companies in the papermaking enterprises as the main research objects. First of all, find the factors which influence the price of paper pulp, and then compare and study the performance of the papermaking enterprises, try to prove that forestry-pulp-paper integration can do more for papermaking enterprises in resisting the price risk of the raw material.This study is based on the theory, then use the software SPSS 17.0 to research the collected date. With the empirical research, we get the following conclusions:1. From the theory, this study find five factors which affect the price of paper pulp. Most measured variables of this five factors passed the hypothesis test. These variables which passed the hypothesis test will influence the price of paper pulp. Passed variables include:the price of raw material, labour cost, import quantum of paper pulp, the exchange rate of RMB, acreage of forestry land and credit rate.2. Through the correlation analysis, we think that the price of paper pulp will influence the performance of papermaking enterprises, but the price of paper pulp is just one of the factors which will affect the performance of papermaking enterprises.3. Through the Crosstabs process, we compare the performance of papermaking enterprises, we find that not all variables change, the papermaking enterprises wheather take forestry-pulp-paper integration strategy will show the difference. When the price of raw material, labour cost, import quantum of paper pulp and credit rate change, the papermaking enterprises which take the forestry-pulp-paper integration strategy, will do better in resisting the price risk of the raw material. But when the exchange rate of RMB and the acreage of forestry land change, the papermaking enterprises wheather take forestry-pulp-paper integration strategy will not show the obvious trend to_focus on one group.