Research Of Evaluation Of The Growth Of Listed Companies Of National Defense Military Industry

National defense military industry is a high-risk industry which has intensive capital, technology and risk. Its political function, high confidentiality and purchaser’monopoly make it become a mainstay of state-owned business. As the core of the national manufacturing industry, it has a huge industrial system, which is not only the important foundation of national military strength, but also an important part of national economy. The impact that it exert in enhancing the level of national science and technology, promoting economic growth steady and strengthening the national comprehensive strength can not be underestimated. At present, with the longitudinal deepening economic reforming, the increasing process of acquisition and reorganization of state-owned enterprises, the continuous expansion and the specification of securitization, the deepening of marketization, as the most important representative of the state-owned enterprises---national defense military industry, will surely get baptism and sublimation from this round of political reform, become an focus and hot spot of important investment in the future. Therefore, the research of listed companies’growth of national defense military industry will draw lots of attention, the growth assessment of this industry has very important theoretical and practical valve to all the stakeholders.At first, this paper explains and defines the concept of enterprise growth by looking through the existing enterprise growth theory, then summarizes the relevant methods and theories about enterprise growth domestic and overseas, which laid a theoretical basis for the following empirical analyzing. Secondly, the paper describes and analyzes the general situation of development, the basis information and the related problems of the national defense military industry and the listed companies of this industry, targets the object of this study to the 30 companies which has listed in the national defense plates of Shanghai and Shenzhen A stock markets. Then, this paper constructs the company’growth model from the profit ability by 14 evaluation indexes which is derive from the five aspects of operation ability, growth ability, debt paying ability and the size of a company, carries the comprehensive analysis and sorting on the listed companies of national defense military industry with factor analysis, then checks the evaluated results by discrimination analysis, gets the growth ranking and the future development trend of listed companies of national defense military industry. Based on the former research, this paper has provided the related references and suggestion for the national strategic planning of military industry, the company’development path selection and the investors’rational investment.