The Research Of China’s Forestry Isted Companies Performance Evaluate Ased On The Grey Correlation Analysis

As an important part of the national economy, forestry is the main part of the ecological environment construction. It will promote the development of society and ecological economic through the provision of forest ecosystem services for the society. Implementation of forestry reform and development of modern forestry will help to play the forestry ecological, economic, social and cultural functions. As one of the main part of the forestry reform,forestry enterprises’development will directly related to the effectiveness of the forestry reform. Therefore, the business performance assessment of forestry enterprises is focused by the forestry sector and other government agencies.As a leader in the forestry industry, the performance study of forestry listed company is particularly important.Firstly, by describing the background and significance of the forestry listed companies’ performance evaluation, the article made a systematic review of the main results of the performance evaluation of listed companies at home and abroad and summarized and commented on the main points. Secondly, the article preliminary selected18indicators form five aspects of profitability, solvency, operation ability, grown ability and cash flow ability by the guidance of selecting principle of the index system. It made secondary screening indicators by the multiple correlation coefficient and the cluster analysis,then, built the performance evaluation index system. Through the combination of subjective and objective methods, the index system took into account the characteristics of comprehensive and representative.Thirdly, on the basis of describing and comparative analysing the mainstream objective and subjective weighting method,the article selected the CRITIC method as the Index Weighting method. Through the theoretical improvement which selected the variation coefficient instead of the standard deviation to measure the index variability and correlation to measure the conflict between the indicators, the method reflected the characteristics of evaluation index more objectively and comprehensively.Forthly, it selected arithmetic sequence to the empowerment of the time dimension which changed the equivalents empowerment mode of dynamic evaluation. Finally, the article selected the method—Gray Correlation analysis to analysis the performance of China’s14forestry listed companies based on the data from2009to2011and gave the performance ranking.From the performance comprehensive evaluation result of the forestry listed companies,it concluded that Jilin Forest Industry,Dare Global, Yihua Wood Industry, Kemian Wood Industry among the top of the ranking,Orient Landscape,Dehua TB,Palm Landscape, Markor, Yongan Forestry in the middle of the ranking and Wei Hua, Shengda Forestry, Zhongfu Industry,*ST Green-Land, ST Jingu Industry in the back of the ranking. providing policy advice on issues for their future development.