An Empirical Analysis Of The Factors Affecting The Value Of Listed Companies In The Software Industry In China

Along with our country 's enhanced awareness of protecting national information security,Chinese software enterprises have also ushered in the good development opportunity.How to improve the software enterprise valuation,so that our software enterprises can take time for intense domestic and international market competition environment,has become the focus of attention problem in this paper.This paper firstly analyzes the characteristics of software enterprises in our country,the qualitative analysis of the factors of the macroscopic and microcosmic influence of Chinese software enterprise value;Secondly,combining the characteristics of software enterprises,in consideration of the quantified and the disclosure of data in the financial statements of listed software companies,this paper selects 34 indexes of enterprises,establishes the index system of factors which affects the value of the software enterprises in our country,and uses the factor analysis method to reduce the dimensionality of the original indicators in line with the conditions,then boils down to 3 common factors;Finally,this paper uses the method of multivariate linear regression and take 70 listing Corporation in Chinese software industry during 2011-2013 as the research object,and takes annual report of the enterprise on the same day or the first day of trading stock price mean instead of enterprise value to be as the dependent variable,with the common factor and other variables as independent variables,then establishes the multiple regression analysis model.The analysis results show that:the main factors affecting Chinese software enterprise value,which are ordered by the influence degree,are the proportion of the first shareholder,strength of R&D funds,proportion of technical personnel,profitability,development capacity,cash ability,and the author puts forward proposes to the rise of our country's software enterprise value.