Agricultural Listed Companies Non-agriculturization Causes And Countermeasure Research

Agricultural listed companies as will the development of the agricultural industrialization and capital market closely connected to bond, and be promoting the industrialization of agriculture, development of modern agriculture important rely on. The company shall bear the burden of the agricultural industry development in our country, the development of agricultural industry has overlooked drive and lead role, it is not only related to the agricultural industry overall benefit, and related to the agricultural industry's future development mode and the development direction. Due to the agricultural economy is a very special economic form, its production and operation face any other non-agricultural industries incomparable natural risk, and in modern market economy conditions facing the complicated market risk and other reasons, makes the responsibility of agricultural listed companies in order to deal with these problems, in developing appeared some unavoidable question, one of the most prominent is the issue of "conversion" (also called " deviation from agriculture") phenomenon. The non-agricultural expansion violated the government to support its listing of the original intention, also makes the agricultural industry in the listed industries "shrink" dramatically. This will not be conducive to the development of agricultural industry, also was disadvantageous to the development of capital market.Based on the theory of agricultural industry diversification strategy for theoretical basis, to the agricultural listed companies is agricultural deviation from the objective reason and subjective drivers, and the influence of deviation from agricultural on the deep discussion, thought the agricultural listed companies" deviation from agricultural "behavior is the embodiment of diversification strategy is agricultural", but "behavior and not back scattered the management risk of the enterprise, also did not improve the competitiveness of enterprises, is undeserved diversification strategy. Agricultural listed companies "deviation from agricultural" behavior affect not only agricultural listed companies main development, investment efficiency and refinance ability, and also damage China's capital market structure and order, damage the industrialized operation of agriculture, to the detriment of the healthy operation of China's national economy coordinated development.Taking " deviation from agriculture" and "the back as a visual Angle, by agricultural" in the deep Shanghai two city listed 42 agricultural listed company as the research object, the choice in sample company in 2009 to 2010 data for analysis basis, the mean using factor analysis method to comprehensive measure of business performance. Then will " deviation from agricultural" classes and " deviation from agricultural" agriculture listed the profitability of companies, solvency and capital structure, growth ability, equity expansion ability, assets operation ability for comparison and analysis, in order to "back to increase agricultural " cannot performance by empirical listed company. Finally found " deviation from the crux of the agricultural" operation, thus put forward its own views and constructive, countermeasures for agricultural listed companies pulse that could have set up long-term benefit and long-term significance, both the investment strategy of agricultural industrialization, and can play a leading role in the capital market keep better performance level, thus realize industrialization of agriculture and play modern agriculture carrier function.