Research On Performance Evaluation Of Listed Securities Companies In China

Since 1987,our country set up the first securities company to now have 129 securities companies in China,the increase in the number of securities firms has been slow,but its role is growing.Both individual investors and institutional investors,want to enter the securities market,must through the securities company.Companies want to raise money in the stock market,need for the underwriting securities company and the sponsor,investors want to enter the stock market trading,need acting sale of securities companies.Many securities companies in the development of global business,also provides channels for domestic residents to foreign investment.The operating status of securities companies has an important impact on the development of the securities market.In this paper,the factor analysis model is used to study the performance of listed securities companies.Company's performance is not only the manager's concern,is also the concern of the investors and regulators,securities business of the company,will directly affect the investor and issuer returns,which will influence the development of the whole securities market.Research on securities companies operating performance,for the development of the securities firm and is of great significance to the healthy development of securities market.This article first introduces the background of the development of the securities industry in our country,and the current situation and problems of development.In the aspect of performance evaluation theory,summarizes the research on evaluation index and evaluation method.On the empirical analysis,In this paper,the selection in China's a-share listed securities companies as samples,the research on the performance of listed securities company,considering the availability of data,selected the 23 securities companies listed on the panel data,using the method of factor analysis,for every company in earnings paid,management,operations,and risk management five aspects carries on the analysis,selecting related index of 16 variables,through the data calculation and processing,get five public factor,then according to draw public factor score rating,at the same time of five public factor,on A rating,this paper analyzes the reason of the changes in each factor.At the end Securities companies operating in the growth,solvency and operation,business innovation,scale of operation and risk management four aspects put forward in this paper,the proposal,provide reference for investors,company managers and regulators.