The Performance Evaluation Of Listed Securities Companies Of China

With the opening of China’s capital market gradually accelerated, financial internationalization and interest rates liberalization will be the new trend of the future development of the financial market of our country. Securities Company is important participants and organizers in capital market. The healthy and stable operation of Securities companies is to protect the capital market to run smoothly and efficiently. Therefore, on the one hand, the securities company managers should focus on the performance of internal management, on the other, they have to consider how to improve the performance level of Securities Company. According to the current development situation of China’s securities industry, the paper deeply studies the operating performance of listed securities company in China, which has important meaning for the domestic securities company development and stability of securities market. In this paper, the panel data of the listed securities companies from 2010 to 2012 are selected as samples, and through which we further analyze the operating performance of listed securities company form five aspects, which consists of profitability, solvency, development, operational capacity and asset quality.According to the research goal of this paper, we set the following contents:Chapter one is an introduction. This part starts from the research background and research significance, then introduces the research contents and the definition of the concept, and the research methods and technical route, and finally expounds the possible innovation and insufficiency.Chapter two is the literature review. This paper reviews the study on company performance evaluation from the two perspectives of home and abroad, and then research production is summarized and commented.Chapter three is the current business situation and the existing problems. First, we review the development process of China’s securities companies; and then describe the operation status of China’s securities companies; finally, list the accumulated problems of China’s securities companies in the development process.Chapter four is the construction of performance evaluation index system. First, establish the main contents of China’s listed securities company performance evaluation system; and then determine the principle that the performance evaluation index system should follow; at last, construct the performance evaluation index system of China’s listed securities company, including the selection and the explanation of the evaluation index.Chapter five is the analysis of performance evaluation. First of all, introduces the basis and sources for sample selection; and then analyze the Operating performance, calculate each common factor score and comprehensive score by the method of factor analysis using the arranged sample data of listed securities company from 2010 to 2012; at last, explain and analyze each factor and comprehensive performance.Chapter six is the conclusion and suggestions. By analyzing five common factors extracted from factor analysis and the results of comprehensive performance one by one, we get the conclusion:the operating performance of the securities companies are closely related with solvency, growth condition, and operation ability. The securities company Performance is on top, debt paying ability, growth ability and operation ability of the securities company are in front. Finally, we put forward some effective proposals for the future development of China’s securities company.