| Automobile plays an significant role in our national economic development,which is one of the pillar industries in national economy. Although we suffered the worldwide financial crisis in2008, our country’s economy has slow down its development, in total it shows an growing trend. In recent years that the automobile industry had appeared that a explosion increase, especially that our country emphasis on that expand our inner need to promote our sale in2009and our motor industry are recovery slowly. After2years’development, until2011that our speed are slow down, which make our auto-mobile industry rapidly grow to stable stage. But our country have a large population base and have a strong national economy development, the average own a motor are much lower than the international standard. With the rapidly development of economic, the expense of motor are from luxury changed into a necessities products of people’s daily life. The market demanding are continuing, we have a bright future in this field. In the kind of situation the motor are becoming popular in investment’s eyes, the health and stability of the market are becoming important, so it is very crucial to build up a set of scientific performance evaluate system to build the market development, so to make the right decision are becoming very important and also are vital to balance and coordinate the development of motor industry.Automobile manufacturing listed company as the a landmark in automobile industry, its operating system performance related to the merits of the healthy development of the entire automotive industry and the automobile industry for the study of the automobile industry has a certain performance in the academic field is relatively small, and less use of factor analysis method performance Evaluation. This essay include five chapters. I will talk about the purpose and research meaning in the introduction part of chapter one and have a brief introduction about my research method, research content and the technical line, in the end of chapter one I will do some comments about the performance evaluation documents of domestic and foreign company. In the second chapter, I will introduce the way to chose performance evaluation in listed company, firstly, in chapter2I will have a compare with the performance evaluation method between domestic and foreign listed company, and then I will present the factor analysis method and the adaptability of this method. In chapter3,1mainly talking about the current situation of automobile manufacturing industry and the construction of evaluate system, in this chapter I will emphasis on the present situation of automobile industry and introduce the evaluation principles of the performance evaluation in listed company and the performance evaluation index used in this chapter. In chapter4, I will focus on the experimental research on the performance evaluation of listed company, at the very beginning of this chapter I will deal with some financial information which turned into standard form and then do some appropriately factor analysis testing, to use the index construction model chose qualified the financial data in public company to compare and do some evaluation, the ranking analysis and do some analysis and evaluation of result. In chapter5, I will emphasis on the research result and share my perspective ideas toward this filed. I will gain the conclusion from the above chapters and will hold a deep discussion about the existed problems in our public companies and the future development in macro and micro sides, what’s more I will offer my suggestions to solve the problems and offer some perspective points in this field.Taking into account the present and persuasive of the sample, I chose88list companies stock information to analysis in2010to2013from Sina financial network and Tecent financial network, which except he non-automobile manufacturing list company, ST stock company and other deficit companies,finally chose28automobile manufacturing public companies to represent our country’s automobile manufacturing, combining with some relevant theories to make the Profitability, solvency, operational capability, the ability to grow, investors profitability in five sides of14Performance Evaluation index, mainly use document research method, experience borrowing method,comparative method and factor analysis method etc, to make a research on our country’s public companies performance evaluation method and make a comment toward the research result. To found out the seasons for the good sides and at the same time to make some suggestions toward the need the bad sides. From the result and we can easily make an conclusion that the list companies average pointes are outweigh zero from23companies, which will take account of82.14percent of the sample, which can prove the23automobile manufacturing companies average points are higher than the average level of this field, on the other side which also are proved that another5manufacturing company’s average point are lower in zero point, which account of17.86percent of the sample and we can draw an conclusion of that the5automobile manufacturing have a bad running performance in2010to2012,which lower the average standard. In this more than the industry average of23boss car company which has20listed companies on average car operating results greater than1, accounting for71.43%of the total sample, accounting for86.96%more than the average level of the sample, indicating that China’s automobile2010-2012the industry average overall operating results compare well, but the scores are not high, indicating that the operating performance level of the industry is still relatively weak, be strengthened. Score the top five companies were consolidated as BYD, FAW, Guangzhou Automobile Group, Great Wall Motor, FAW XiaLi, they have their own advantages, but profitability and operational ability is generally strong, but the scale of production is relatively large. From the current situation of BYD, we will make an analysis results are in agreement with the actual situation.Combined with conclusions and development status of China’s automobile industry analysis, the development of China’s automobile industry, the operating performance of the proposed macro-and microeconomic policies proposed recommendations:the government’s macroeconomic policies:(a) to continue to develop strategies to introduce and promote the rapid development of the domestic auto industry, enhance competitiveness;(b) to continue to improve the planning and construction of industrial parks and other infrastructure, promote the improvement of the construction of the automobile industry chain, reduce vehicle costs;(c) to continue to strengthen cooperation with the Ministry of Education, reserve personnel training, and promote long-term development of the automobile industry. Enterprise micro policies:(a) continue to focus on profitability and improve operational capabilities, improve asset management and earnings quality operators;(b) continue to encourage innovation and promote independent research and development, and enhance the core competitiveness of products;(c) enhance the comprehensive auto companies coordinate and building healthy development model;(d) strengthen the automobile enterprise information management and reduce automobile manufacturing costs;(e) the development of automotive products and reasonable price to achieve smart pricing enhance marketing capacity building;(f) enhancing the corresponding receivables management models to enhance the capital flowing rate, reducing the risk of break the contract. |
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