Study On The Performance Of Listed Companies In Hebei Province

With the development of "the integration of the Beijing-Tianjin-Hebei region and "One Belt And One Road", the development of listed companies in Hebei province also ushered in the new development opportunity. By the end of 2014, a total of 50 listed companies in Hebei province, accounts for only 1.97% of the national listed companies (as of June 30,2014, the national total of 2540 listed companies).From the aspects of market value, in 2014,50 a-share listed companies total market value is 424.545 billion yuan, although this year than last year(383.856 billion yuan) has increased by more than 40 billion yuan, but it accounts for the a-share listed companies of total market value has dropped to 1.21% from 1,35%.It is not hard to see that in terms of the number of listed companies, the company’s scale, the development prospects of companies, Hebei level compared with the national level has a big gap. Look from the trend, since 2012, the market value of listed companies in Hebei province accounts for the total market capitalization is a downward trend. In order to speed up the development of listed companies in Hebei province thereby giving impetus to the overall economic development of Hebei province, we will study on the performance of listed companies in Hebei province.In order to study the performance of listed companies in Hebei province, in the fourth chapter of this article we used the factor analysis method to analyze the performance of listed companies in Hebei province from the profit ability, debt paying ability, operating ability and growth ability. From the above we draw some conclusions:firstly, the performance score of the listed companies in Hebei province difference is very big, the possible reasons are industry difference and differences of management ability; secondly, the performance of listed companies in Hebei province generally is very poor, it’s urgent to improve; finally, in four ability factors, profit ability factor and solvency factor’s influence on the performance of the company is the largest, so in order to improve the performance of listed companies in Hebei province, we should improve the two aspects of the company’s profitability and solvency.. By the results of performance evaluation of listed companies in Hebei province, how to improve the performance of listed companies in Hebei province has become a problem to be solved. Because of basing on the panel data to make regression makes the results are more convincing, so in the fourth chapter we study the factors of affecting the performance of listed companies in Hebei province. In this article we choose the panel data of listed companies in Hebei province from 2012 to 2014 as samples, to build the panel data regression model of board characteristics on corporate performance and ownership concentration on corporate performance respectively. Draws the following conclusions:first, the scale of the board of directors of the listed companies in Hebei province, the proportion of independent directors and corporate performance are positive correlation; Independent directors and the working place is consistent, the board of directors’shareholding ratio are negatively related with corporate performance; The second is the first big shareholder shareholding and corporate performance were significantly U related, the top five shareholders’shareholding, the top ten shareholders’shareholding and corporate performance were significantly inverted U-shaped related. Through these conclusions we can also make some suggestions to improve the performance of listed companies in Hebei province.The innovation of this paper is not only using factor analysis to make performance evaluation, but also using regression method to study the factors affecting the performance of listed companies in Hebei province, thus draws general conclusions and under existing condition of listed companies in Hebei province’ special conclusion. Deficiencies of this paper may be are:(1) factor analysis KMO sampling adequacy of the test statistic is 0.641, just "ordinary" suitable for factor analysis; (2) in the study of factors that affect the company’s performance, some assumptions have not been significantly support.