Study On The Competitiveness Evaluation Of Expressway Investment Enterprise

Diversified investors of highway bring the shortage of funds highway investment marketopportunities,as well as the introduction of competition.Increase in the number and the size ofhighway investment companies, bring a long-term challenge to all highway-investedenterprises from all aspects.Concerned about the highway investment in the competitivenessof enterprises,related to enhance highway construction and investment and financingcapacity,it will continue promoting our highway developed rapidly and coordinately, and hasa broad impact on the operation of the national economy.In this paper, based on the competitiveness of enterprises and the theory of competitiveevaluation,analysis of the key factors that affect competitiveness of highway investmententerprises.Through combing and summarized relevant literature of enterprisescompetitiveness evaluation in theoretical research component,combined the characteristics ofexpressway investment,establishing the competitiveness evaluation index of highwayinvestment enterprise,to evaluate the competitive advantage of enterprises in this field.This paper selected31listed companies which has invested in highway,29state-ownedenterprises, and2private enterprises, collected indicator data from the date of the2011annualreport.Obtained the ranked indicators by the size of the impact through empirical analysisare:asset-liability ratio,experience in project construction, brand value rate,the proportion ofmanagement and professional staff to total workers,net assets,ROE,financing rate,corporatecreditworthiness,index of the overall quality of the senior management,quick ratio,averagelevel of education employees,current ratio,and the composite score of the competitiveness ofenterprises.At last, combining the empirical research results and the characteristics of highwayinvestment enterprises,suggestions for how to improve the competitiveness of the highwayinvestment enterprises,made the recommendations such as equal market access、rationalization of government-enterprise relations、diversification of financing channels、actively promote innovation in all aspects of multi-level、mobilize the enthusiasm of themanagement of financial resources and so on.To realize the diversification of investors，richthe highway investment market,jointly promote the development of highwayconstruction,serve the development of local and even national economic.