Study Of The Evaluation Of Sporting Goods Listed Companies Growth In China

With the rapid development of economy and society in China, sports consumption has become an important part of residents’ consumption structure. Developing sports industries can help to improve people’s physical qualities, and expand domestic demand, foster new economic point of growth, promote the national spirit, enhance national cohesion and cultural competitiveness. In 2014, the State Council issued "Opinions on Accelerating the development of sports industry and promote sports consumption"(hereinafter referred to as "Opinion"), "Opinions" points out that we should promote the sports industry to become an important force for economic transformation and upgrading, strengthening the construction of sports power, and meet the people’s growing demand for sports continuously. Supporting sports industry as a green industry, the output value of the sports industry for more than 5 trillion yuan by 2025, and hope that the sports industry may become the important strength to push social development. There is a need for some sports enterprises with sustainable growth to make sports industry to become the pillar industry of national economic transformation. Sporting goods industry is an important content of the sports industry and now is in a boom period. However, the overall size of the industry is still small, sporting goods business growth is still in the exploratory stage, the questions focused on the development of mechanisms are inadequate, innovation capacity is insufficient and lack of high-level talents. Current studies on sporting goods industry focus on industrial situation and development countermeasure, regional clusters and brand issues. Few articles study the evaluation on the growth of sporting goods enterprises according to their characteristics. The growth of sporting goods enterprises(listing corporation as the representative))is a fresh and important field and its evaluation and analysis has important significance.The growth of sporting goods enterprises is not only influenced by the environmental factors, but also rely on their own resources and capabilities. Based on the theory of enterprise growth, this paper applied literature method, expert interview method and factor analysis method to select the key factors that effect the growth of Sporting goods listed companies, and built evaluation system on the growth of Sporting goods listed companies, and evaluate the growth, classified the growth and revealed growth mechanism of Sporting goods listed companies from horizontal and vertical aspect; and then predicted the growth in 2014 and 2015, lastly summarized the countermeasures for the growth in order to achieve the goal of healthy and sustainable growth of Sporting goods listed companies.This paper’s findings were as follows:(1)the factors that influenced growth of Chinese sporting goods listed company include environmental factors(economic environment, technological environment and industry environment), resource factors(physical and human resources) and growth capacity factor(development capacity, profitability ability, solvency, product competitiveness, operational capacity and risk control ability). These factors constitute the growth evaluation system of Chinese sporting goods listed company. The factor weighting coefficient shows that the growth environment has a significant impact on enterprise growth, internal resources are the basis of business growth, besides the factors among the growth capacity, the development of the capacity factor(including total asset growth, revenue growth and net profit growth) and profitability factors(including sales margin, return on equity and return on assets) compared with the weighting of high, indicating operational status of assets and profit margins are still important indicators for discriminating the growth ability of enterprise growth.(2) For the comprehensive evaluation the growth of nineteen sporting goods listed company in China, most company develop unbalanced in environmental factors, resource factors and growth ability factor,there are some regional differences.(3)The growth of sporting goods listed company can divided into six types like stable growth, fluctuation growth,stable maintain, fluctuation maintain,stable negative growth and fluctuation negative growth.From 2009 to 2013,the growth type of nineteen sporting goods listed company can be classified as follows: there were six companies maintaining stable growth,one company maintaining fluctuation growth,two companies maintaining stable,eight companies maintaining stable negative growth and two companies maintaining fluctuation negative growth.(4)The growth trend of sporting goods listed company in China can be divided into three types, ascending,maintaining and descending. Samples were predicted as five companies in ascending, seven companies in maintaining and seven companies in descending. The growth of Sporting goods listed company in China possessed the characteristics of ‘the top level is still high on the list, and middle and lower level ranking with certain fluctuations’ in 2014 and 2015.