The Study On Animal Husbandry Enterprise Vertical Integration

China's animal husbandry output value reached 2.9 trillion yuan in 2014,more than four times in 2000,accounts for one-third of its agricultural output,4.6% of the gross domestic product(GDP),has made remarkable achievements.Compared to developed countries,however,the proportion of animal husbandry accounted for more than 50% of the agricultural and animal husbandry.It is obvious that China still have larger growing space.At present,there is fierce competition in China's animal husbandry industry and the market concentration is still low,medium and small farmers irrational enter or exit caused the prices of cyclical fluctuations,and it seriously affect the stable operation of the enterprise;on one hand,the volatility supply of of industrial chain upstream feed raw materials brings difficulty to the enterprise cost control and stable operation;on the other hand,the development in downstream slaughtering processing industry is poor,the road of adding value to livestock and poultry products,absorbing the surplus is blocked;In addition,long industry chain,each production link loosely connected makes it hard to guarantee the food safety.To resolve the above problems,and promote the healthy development of the industry,animal husbandry company is actively expanding its extent of vertical integration,carrying out value chain integration,and building its competitive power.Therefore,tracking the animal husbandry enterprise vertical integration management of enterprise performance has a realistic significance.After reviewing the existing literature at China and foreign countries,this paper on the basis of the existing theory of predecessors,according to the reality of animal husbandry industry,starting from the actual operation of enterprise,analyzes the animal husbandry industry chain partly,the influence between the vertical integration to enterprise performance and implementation of vertical integration mode.In addition,using the value increment method to measure he degree of vertical integration of animal husbandry enterprise in 2008 to 2014,by empirical research using the regression method to find the relations between vertical integration and enterprise performance,found that there were significantly positive correlation between them,in addition,the enterprise assets scale,capital structure,current assets operation efficiency also constitute a significant impact on corporate performance.Based on the above research,combining with the trend and phase of the development of animal husbandry,for the healthy development of animal husbandry enterprise vertical integration four suggestions are proposed.