| With the development of social economy and sports are widely available in the world scope, more and more people are attracted by sports charms. Fashionable、recreational and popular trend of sports has become more and more prominent, and in the light of the trend sports economic and cultural value are being excavated, finally it form the sports industry. At present the sports industry has become the most active and potential global entertainment industry. In the western developed countries sports industry has become one of impetus to promote the national economy growth, and its contribution to the national economy is higher, in contrast the contribution to the national economy of sports industry in China is low. In this context,"Guidance about Accelerating the Development of Sports Industry" promulgated by the General Office of the State Council,"The Twelfth Five-Year Plan for National Economic and Social Development of the People’s Republic of China" adopted by the National People’s Congress,"The Twelfth Five-Year Plan for Sport Undertaking Development" issued by General Administration of Sport and other important files mentioned by developing sport industry strongly to promote economic development in China. In the current increasingly competitive domestic and international sports market circumstances, the western developed countries already have many competitive international famous brand sports company like Nike, Adidas, Puma, international management group (IMG), National Basketball Association (NBA) and so on, but the company competitiveness of our sports industry is weak. In such domestic and international environment the most main task to develop our sports industry is to improve the competitiveness of our sports company, foster a number of internationally competitive sports backbone enterprise and enterprise group, and form a number of Chinese characteristic and international famous sports brand.Based on this background, this article analyzes the business performance of sport industry in China listed company, and the relationship between the business performance of sport industry in China listed company and its influencing factors. The purpose is to truly reflect the present situation of competitiveness of sport industry in China listed company, search for the existing problems, and according to the characters of the development of the sports industry in China to provide relevant suggestions to improve the competitiveness of sport industry in China listed company.Through reviewing related research literatures on the evaluation methods of business performance, based on the compare of the evaluation methods, this article deem factor analysis is the more objective and reasonable effective method to evaluate business performance. On account of the present situation of competitiveness of sport industry in China listed company, this article selects seventeen financial indexes of eight listed companies in sport industry from2007to2010. The eight listed companies are Ling Ning Company Limited, ANTA Sports Products Limited, China Dongxiang (Group) Company Limited, Xtep International Holdings Limited, PEAK Sports Products Company Limited, Beijing Toread Outdoor Products Company Limited, HL CORP.(SHENZHEN) and China Sport Industry Group Company Limited. The seventeen financial indexes are Gross profit to sales ratio, Sales net interest rate, Return on equity, Fully diluted net assets yield rate, Return on total assets, Earnings per share, Current ratio, Quick ratio, Asset-liability ratio, Equity ratio, Inventory turnover ratio, Total assets turnover, Current asset turnover, Net profit growth, Net assets growth rates, Camp business income growth, Total Assets Growth Rate. These financial indexes are related to profitability, growth, liquidity and operation. This article apply factor analysis to extract company health factor, company profit factor, company growth factors and company operation factor, and calculate the business performance comprehensive index score of sports industry listed companies through weighting each public factors by its variance contribution. Based on the business performance comprehensive index score, this article to research the characteristics of sports industry listed companies in China.On top of analyzing the influencing factors of business performance of sports industry listed companies in China from macro, medium and micro angle, and this article apply the multiple linear regression method to verify the relationship between the business performance of sport industry in China listed companies and its influencing factors. The influencing factors are ownership structure, board size, main business professional degree, the stock proportion of the first shareholder, company innovation ability, capital structure, and asset size.Research found that at present the main features of business performance of sport industry in China listed company are:(1) Imbalanced development among most sports industry listed companies in China. The uneven public factor score lead to the business performance comprehensive index score of sports industry listed companies is not ideal.(2) Each year the company health factor score, company profit factor score, company growth factor score and company operation factor score of each sports industry listed companies are in the wave of change.(3) The business performance of sport industry listed company in China appear average from2007to2010.(4) The business performance between the best and the worst is in a big gap from the distribution of business performance comprehensive index score.(5)Companies with a high score rank are listed in Hong Kong, and the bottom are listed in Shanghai and Shenzhen.Research found that at present the relationship between the business performances of sport industry in China listed companies and its influencing factors are:(1) The business performances of sport industry in China listed companies is a model of inverted U related to board size.(2) The relationship between the business performances of sport industry in China listed companies and main business professional degree is not significant.(3) The relationship between the business performances of sport industry in China listed companies and the stock proportion of the first shareholder is not significant.(4) The business performances of sport industry in China listed companies and company innovation ability are positively correlated.(5) The business performances of sport industry in China listed companies and Debt-to-assets ratio are positively correlated.(6) The business performances of sport industry in China listed companies and asset size are positively correlated.By empirical researching on business performance of sports industry in China listed-companies and its influencing factors, this article supply relevant suggestions for company administrator and government to improve the competitiveness of sport industry listed company in China. The relevant suggestions for company administrator are:(1) Attach importance to innovation and product design, and invest more spending on research and design.(2) Seek bright spot and highlight the individuality to promote brand value.(3)Turn from their own production mode to the OEM model, even OBM model in the ability of the conditions.(4) Using multi-channel, multi-level and multi-form of investment and financing to increase company capital.(5) Enlarge production scale to improve the company performance.(6) Apply delicacy management to optimize inventory management skills, finally enhance company operation capability. The relevant suggestions for government are:(1) Provide innovation subsidies for sports industry listed-companies.(2) Implement preferential tax policies for sports industry listed-companies.(3) Perfect relevant policy to encourage investment and financing. |
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