Empirical Research On The Growth Evaluation Of The China’s Listed Food Companies

This paper makes the listed food companies which list on the main market in Shanghai and Shenzhen A-share as the study samples. Using company size, financial management capacity (profitability, solvency, operational capacity, cost control ability), growth ability, marketing capabilities and innovative ability as data base, and selecting20financial indicators from these five aspects, then exercising factor analytic method, giving evaluation and order to the growth ability of the listed food companies, from which has obtained their growth order from2004to2011, as well as the influences of each breakdown capability to the overall growth ability of the listed food companies by using data of2011. After that this paper makes comparative analysis of growth ability to the listed food companies from two perspectives, namely geographical distribution and different types of enterprises, and then giving relative proposal to promote the growth of the China’s listed food companies.Firstly, on basis of expounding the theory of enterprises growth, this paper has made a simple summarize and brief comments on the existing researching fruit, such as growth influential factors and growth evaluation, which were made by domestic and broad scholars, has laid a theoretical basis for this article.Then, made a describing analysis on present situation of the listed food companies, and dividing the food industry’s growth stage into three phases, respectively steady slow-growth phase, recovery awakening phase and rapid development phase. In addition, from the perspective of total amount and geographical distribution, size, and operating results, it made an overview of the status and characteristics of the listed food companies. Obtain the following results:(1) the total number of china’s food listed companies is increasing, but it also shows that their geographical distribution is uneven;(2) the overall scale of the listed food companies are too small to generate economics of scale;(3) Although the overall operating results showed a steadily upward trend, but the shareholder profitability and return on net assets are to be improved, at the same time the industry develops unevenly.Continually, this paper laid growth evaluation system of listed food companies and then made empirical analysis. Using factor analysis method, this paper built evaluation index system and evaluation method on listed food companies, screened42listed food companies as samples from the main broad of the shanghai and Shenzhen A-share. Using factor analysis model by SPSS soft, this paper analysis the influences of the five financial indicators to the listed food companies’growth, obtained demonstration results, and has concluded that (1) the overall growth of listed food companies is not well;(2) each of the breakdown ability of listed food companies is uneven;(3) the obvious growth gap among the different areas of the listed food company is comparatively huge;(4) the obvious growth gap among the different types of the listed food company is quite different;(5) the innovation capability of listed food company is very poor.Finally, according to the demonstration results, this paper brings about some proposals such as government and the community to create favorable external conditions, and enterprises to actively create the internal conditions. Still, this paper has much deficiency and needs further study.