Research On Financial Competitiveness Evaluation Of Listed Companies

Under the background of economic globalization, the international competition becomes more frequently. Both our government and enterprises have strongly felt the importance and urgency of enhancing competitiveness in enterprise and country competitions. As the financial management is the core of enterprise management, the financial management activities play a role in resources, utilization resource allocation and resource distribution. Therefore the financial competitiveness is one of important parts of enterprise’s core competition, and the core competitiveness promotion of enterprise cannot be realized without the improvement and enhancement of financial competitiveness. The research on financial competitiveness of enterprise is the necessary requirement put forward by the managing practice activities of enterprises, which possesses certain theoretical and realistic meaning.First of all, the writer combs and analyzes the achievements obtained by domestic and foreign scholars on basis of collecting date and studying a mass of literatures. The paper introduces the raising process of financial competitiveness. In this paper, the writer further elaborates the influencing factors of financial competitiveness from four aspects i.e., the financial resources, financial capacity, financial strategy and financial execution. The paper summarizes the relationship between financial competitiveness and enterprise competitiveness. Secondly, this text carries out the research on existing evaluation index system of enterprise’s financial competitiveness,The system carries out the financial competitiveness evaluation including 17 financial indicators, from five respects, i.e., the debt paying ability, growth capacity, cash flow capacity, profitability and operation ability. Finally, based on the average data sample of 2011 to 2013, the thesis comprehensively evaluates financial competitiveness of list companies of Shanxi Province with empirical study. In the empirical process, the financial competitiveness of list companies of Shanxi Province evaluation and rankings are carried out by adopting the entropy method and factor analysis. The results of two methods are compared and analyzed, and it finds that, the average deviation rate for ranking order of financial competitiveness in two methods is low, which proves that the evaluation results achieved in these two methods have minor difference. The empirical analysis shows that financial competitiveness of listed companies of Shanxi Province is weak, especially the growth ability and profitability, which need to be further improved.