Study On The Spatial-temporal Evolution Characteristics Of The Listed Company's Management Performance And Its Influencing Factors In China

As the stock market of our country has been increasingly consummating for 20 years,the listed company which has been the main part of stock market has became the leading role and engine in business,strategically supporting economic development of the country.The management performance of the listed company directly reflects its development level and situation of macro economy in China.So,exactly evaluating the listed company's management performance,exploring the spatial-temporal evolution characteristics and the macro external factors of it help to realize and evaluate the level,guide the direction of economic development.Therefore,on the basis of previous research results,the study preliminary constructs the listed company management performance evaluating indicator system,uses longitudinal sectional comparative method to analysis of the research sample that financial data of the listed company in 2003 s,2008s,2015 s when the years before the beginning of SME board and GEM board,calculating the listed company's management performance in China.Through the GeoDa and the spatial analysis tool of ArcGIS,analyzes the spatial distribution characteristics and spatial autocorrelation of the listed company's management performance in different times to find the evolution tendency.Based on cross-section data in 2015,the study uses the multiple linear regression analysis to find the external influencing factors of the listed company's management performance.The results show that:First,the listed company is gradually increasing from 2003 in China and the speed of increasement has been accelerated since 2009,the difference on the spatial distribution of the quantity in different areas has been obvious.The amplification of “low area”distribute the eastern north region,the western south region and western north region,while there have been imbalance of the inner region.The amplification of “high area”distribute the eastern region.Recently,the listed company of most kind of business distributes the eastern coastal region,of which the main listed company in eastern region is capital and skill-intensive business;the main in central and western region is resourceand energy-intensive business.Generally speaking,there is obvious difference on the spatial distribution of the listed company in China as well as the imbalance development level which appearing the Matthew effect.Second,the spatial distribution of the listed company's management performance has obvious spatial autocorrelation phenomenon which tends to cluster on the distinct polarization,appearing a gradient distribution pattern of “hot spot area-secondary hot spot area-secondary cold spot area-cold spot area” from coastal to inland region.It has strong stability and zonality,the difference on the spatial distribution has been greater.Third,the total management performance of the listed company in different provinces which including municipality directly under the Central Government and autonomous region is appearing the reducement from eastern coastal region to inland region.With the development,the difference on the total management performance of the listed company in the central region,the west region that compared with the listed company in eastern region especially Guangdong,Zhejiang,Jiangsu,Beijing,Shanghai has been greater.The problem of imbalance spatial development is gradually serious.The average management performance of listed company in different provinces have no obvious regularity.Fourth,among the influencing factors to the management performance of the listed company,of which level of economic is the main factor and the environment of developed is the secondary factor.While natural resources have the insignificant effect in the management performance of the listed company.The study theoretically enriches the research perspective of the listed company in geography,the research improving the development of enterprise geography,corporate geography,industrial economic geography to the certain degree.Practically,it is beneficial to correctly realized the regularity of the listed company's management performance and the optimized industrial layout and to provide the theoretical guidance and practical reference in China.