A Comparative Study On The Competitiveness Of Chinese Coal Listed Companies

Energy is an important material basis which is essential to humansurvival, economic development and social progress. Along with thedevelopment of industrial economy and the progress of science andtechnology, society and economy developed at an unprecedented rate. Atresult, the demand for energy is dramatically expanded. The coalindustry, as the basic industry in China, plays an significant role in thenational economy and social development. The paper focuses on thecompetitive analysis and research of the listed companies in China’s coalcompanies. The listed coal companies can obtain a lot of financing helpin the capital market to provide a certain amount of money guaranteefor its development. In addition, the listed company is the publiccompany which must meet certain criteria of public issuance and tradingof its stocks and derivatives. Generally speaking, the listed company isrelatively good groups in the business community. So the study of coallisted companies plays a reference role in the reform of state-owned coalenterprises as well as the establishment of the modern enterprise system.Since the1990s, the domestic scholars are absorbed in the researchabout enterprise competitiveness, especially about competitiveness ofthe industrial enterprises with kinds of products. However, few existingliterature can expound the coal company’s competitiveness, which is mainly due to the special nature of the coal industry and the importanceattached. With economic development, the demand for financing in coalcompanies is becoming more and more strong and so many coalcompanies choose to become coal listed companies conforming to thetrend of The Times.Based on the research on the theory of enterprise competitiveness aswell as the intrinsic properties of the coal industry, the paper establishes amore comprehensive evaluation index system which is suitable forChina’s coal listed company with the actual socio-economic environmentfacing China’s coal listed companies. From three different levels ofcompetitiveness, the index system selects24measures of detail,covering the product condition of production capacity, market geographicconditions, enterprise scale, social benefit index, innovation ability,profitability, assets operation ability, debt paying ability, growth ability,and then the in-depth study of competitiveness of the coal listedcompanies is carried out.Firstly, the paper goes on factor analysis and extracts7main factorsthat affect China’s coal listing Corporation Competitiveness: the scalefactor, profit factor, operation and growth factor, the solvency factor,location factor, innovation factor and efficiency factor. Then the issueranks the various factors of competitiveness as well as the totalcompetitiveness. Secondly, by using cluster analysis, the26coal listed companies are classified and compared. the Sample Firms are dividedinto4categories by fuzzy C means clustering. Then through analysis indifferent categories and study on characteristics of each kind of coallisting corporation, the paper puts forward some suggestions andcountermeasures on how to enhance the overall competitiveness ofdifferent categories of coal listing corporation. From multi-angle analysisand research above, the article finally proposes some concrete measuresto enhance China’s coal listed companies.