| In order to cope with the influence of the international economic crisisto China, the Chinese government decided to boost domestic economy. Thecountry’s high-speed railway with the basic economic and social welfare hasbeen developing, our high-speed rail industry is booming and becomeinternationlized.In this paper, we carried out the research as follows: Firstly, weconducted a review of relevant literature, scholars’ research about theinvestment value evaluation of the listed high-speed railway industrycompanies is still a blank, it is necessary to have a study to make it up.Secondly, we did not only describe the rise and internationalization of thehigh-speed railway industry, but also point out its effects on the society andeconomy. Thirdly, from the perspective of the industry chain of high-speedrailway, we analyzed the investment hot spots respectively frominfrastructure projects, vehicle manufacturing, communications signals, traction power supply and information systems. Meanwhile, we picked outthe listed companies which had greater gains. Fourthly, we conducted aempirical research by selecting30representative listed companies from thehigh-speed railway industry as a research objects and choosing2010annualreports as a data source. We selected the15indicators and extracted five maincomponents which were the enterprise scale, R&D capacity, operational andsolvent capacity, profitability and development capacity and got the indexweight by using principal component analysis. Then we got the compositescore of the30listed companies with the gray relational analysis. The resultsshowed that from the first to the tenth companies, there were two listedcompanies in the main board, three listed companies in the small andmedium-sized enterprised board and five listed companies in GEM.Finally, we made some constructive suggestions which might bebenefit to our long-term healthy development of high-speed railway industry. |
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