The Study Of The Integrated Growth Of Agricultural Listed Companies In China

China is a large agricultural country. Agriculture occupies a pivotal position in our country, and the industrialization of agriculture has become an important development strategy for the future. For most agricultural enterprises, the scarcity of funds is the common problem in the process of industrialization. Now it is difficult to meet the needs of industrialization by depending on traditional financial subsidies and credit funds. So direct financing on the market is an important way to solve this problem and to achieve the capitalization of agricultural industry. However, the majority of our agricultural listed companies generally expose some problems, such as small-scale, poor operating performance, and low growth, which do not only affect the scale of financing, but also greatly affect the process of agricultural industrialization. Therefore, how to effectively improve the growth of agricultural listed companies becomes the problem that the majority of investors are concerned about. Until now, few scholars have conducted a systematic study about the integrated growth of agricultural listed companies, and most studies about the growth of listed companies were concentrated in the real estate, financial services, pharmaceutical and other industries, which was mainly due to the small number and market capitalization of agricultural listed companies in China, so that it did not attract scholars’attention.But this is clearly incompatible with the important role of agriculture in our countiy.In view of this, on the basis of systematic study about the relevant literature, this article firstly defines the concept and classification of our agricultural listed companies, analyzes the industry’s characteristics, the current situation of our agricultural listed companies, as well as internal and external factors affecting its growth, selects some indicators mainly considering the internal factors. Second, taking23agricultural listed companies in2007-2011as samples, the article inherits and improves the previous evaluation model and index system, uses the principal component analysis to conduct an empirical study by SPSS18.0software, then evaluates and compares the integrated growth of agricultural listed companies in China; Finally, according to this study, it gives several suggestions for the government, agricultural listed companies as well as investors.The results of this study show that:(1) our agricultural listed companies’ overall growth in2007-2011was poor, and there was a clear gap between agriculture and the financial industry, the automobile manufacturing industry. The majority of agricultural listed companies were in a low or lower growth level;(2)the integrated growth of types of agricultural listed companies had a large difference. The seed industry’s and fisheiy’s growth was relatively good, while the growth of forestry and integrated services was worse;(3) due to economic, resource and other factors, the integrated growth of agricultural listed companies located in different regions were different. Comparatively speaking, the growth of agricultural listed companies in South China, East China, Northeast China was better;(4) the economic growth rate, inflation rate, the level of consumption, labor cost, as well as technological innovation force could impact agricultural listed companies’integrated growth, and there were different influences on different categories of agricultural companies,there mainly are two aspects about the innovation of this study:First, it establishes a more comprehensive evaluation system of agricultural listed companies’growth and analyzes the overall growth of our agricultural listed companies based on the index system; Second, compares the growth of different types of agricultural listed companies, and looks for the reasons for the differences, which perfects the research on agricultural listed companies’growth in China to a certain extent.Limitations and shortcomings of this study are mainly manifested in:(1) It was difficult to quantify many factors of the growth of agricultural listed companies, so the article could only focus on the part of the quantitative indicators, which might make the evaluation index selection not comprehensive;(2) Because the reasons for the differences of agricultural listed companies’growth were complex, in this article only analyzed a few factors, and did not fully explain and discuss all factors.(3) Due to the relatively small number of agricultural listed companies, the sample size was small.