Performance Appraisal Comparisons Of Different Listed Agricultural Companies Via Correspondence Analysis

Agriculture industry plays crucial roles in China,because of its fundamentally association with industrialization and urbanization.Chinese agricultural companies are obliged to take the responsibilities on the issue of agricultural economic development.In particular,the agricultural listed companies are the backbone of the industrialization of agriculture domain,especially its magnitude of development determines the whole industrial chain of agriculture.Nevertheless,its representative role is far from being acted,due to some certain reasons listed below.In the operation progress of agricultural listed companies,a series of problems arose frequently and severely impediment the economic progress of agricultural industrialization.For instance,the declining economic performance,poor domestic governance and under-developed technology input.Thus,the study of the financial performance of agricultural listed companies is,i)conducive to analysis and evaluation of the development agriculture industry;ii)informative to sort issues in agricultural listed companies;iii)promotive to the international competitiveness of the agricultural listed companies;iv)beneficial to the overall sustainable development of the agricultural industry.In this study,the operating conditions were analyzed on different Chinese agricultural listed companies respectively,via a wide range of statistic analysis method.In subsequence,performance appraisal indexing system was built with 12 financial indicators from four major perspectives,i.e.Profitability,Development Capability,Debt-Paying Ability and Operating Capacity.The performance scores were calculated and compared using factor analysis method.At last,the correspondence analysis method was employed to compare the 5 major elemental categories of listed agricultural companies,i.e.Agriculture,Forestry,Animal Husbandry,Fisheries and Tertiary Sector.Finally,based on the conclusions,the advices and suggestions were offered to corresponding investors.To date,accumulating research on performance appraisal of listed companies has been published.Nevertheless,from the theoretical research point of view,most of these studies focused on limited methods such as index system and evaluation method study of listed companies.In addition the applied research is more related to financial performance evaluation of listed companies and its influence factors analysis,without any of the perspective of agricultural listed companies in different industries.Our research employed the correspondence analysis method that could dramatically decrease the effective indexes to be analyzed,and hence significantly simplified the process of data analyzing.Importantly,the different types of agricultural listed companies could be interpreted at the same time and the indicators were listed together,which are all illustrated as a simple 2 dementional figure.Altogether,this study clearly demonstrated the correlations of different types of agricultural listed companies from four aspects of the indexes,so than facilitated the comparisons and observation study,as well as provide solid advices for efficently company management.