The Application Of Factor Analysis In The Industry Performabce Evaluation Of The Listed Company

In recent years,the rapid development of the domestic market economy,listed companies in various industries want to get more funds through the listed companies in various production sectors seek to obtain more funds through listing.As is known to us,listed companies,as representatives of outstanding enterprises in the same industry,have certain market operation ability and profitability,and their operating conditions play an important role in the development of the industry.Therefore,the production and management of listed companies is very important,and the general way to understand them is to evaluate their business performance.The performance evaluation can make the enterprise managers understand the status of their business through the analysis of the results,and find out the deficiency so as to improve the management level.It can provide a reference for investors to make rational investment decisions.What’s more,it can provide a method that can reasonably reflect the operating status of listed companies in the industry for the relevant government departments,and it helps for them to make management policies according to the actual situation.This thesis uses factor analysis to establish performance evaluation system,and the highway industry as an example.This thesis is mainly divided into the following parts: the first part mainly introduces the research theories that are related to the evaluation of operating performance of listed companies and research framework of this study;the second part summarizes the present domestic and foreign research method on industry evaluation of listed companies operating performance evaluation;the third part elaborates the selection principle of listed company business performance evaluation index,the basic principle for factor analysis,and finally establish the evaluation system;the fourth part through use the highway listed company as a case,makes an empirical study on the analysis of the industry’s business performance;the fifth part mainly analyzes the results of factor analysis of expressway listed companies,and puts forward some suggestions to improve the performance level of the industry.This thesis selected 16 domestic highway listed companies’ relevant financial information for 5 consecutive years from 2011 to 2015 as research samples,through the factor analysis method to establish the performance evaluation system so as to make a scientific and reasonable analysis of the sample.From the results we can see that the comprehensive score of the JSE,Dongguan holdings and Shandong holding five consecutive years are relatively stable and they ranked very front while other companies are more volatile,indicating that their operation is not very stable.The contribution of this thesis is,through transforming the factor value,the factor score is more concise and intuitive,and it has some creativity.But in reality,non-financial indicators can still have a negligible impact on the company.Therefore,it is suggested that some non-financial indexes can be considered when the factor analysis method is used as the key assessment method,so that the conclusion is closer to the objective facts.