Research And Empirical Analysis Of The Formation Of Market Performance In China's Steel Industry

The steel industry is the pillar industry of China's economic development,and the steady development of the industry is very important to maintain the steady development of the whole national economy.And throughout the development of steel industry in our country in recent years,the development of the industry presented that the development was rapid,mainly reflected in the steel industry production increased rapidly,but the technical level was insufficient,the market competition was intense,enterprise lacked of profitability.Aiming at the problems in the steel industry including industrial overcapacity,low market concentration and low profit level,this paper analyzes the factors affecting the overall performance of the steel industry,due to the shortage of market concentration in the steel industry,overcapacity problem,unreasonable industrial layout and other problems,the overall performance of the industry may be low.In combination with the domestic steel market environment and policy environment,the development status and background of the steel industry are analyzed.In addition,there are academic analysis on the relevant factors of market performance of steel industry at home and abroad,and theoretical analysis and empirical research are carried out from many aspects that affect the industry performance of steel industry.In the aspect of theory with a more comprehensive analysis method,from the factors influencing the economic cycle of the development level of the whole industry,factors of industrial organization,industrial linkage,excess capacity mechanism analysis and other aspects,in order to find out the key factors affecting the development of the industry the steady.In the process of theoretical analysis of the influencing factors of industry performance,it is found that the industry performance level of the steel industry is not a simple concept determined by the business model,from the macro level and the industrial level,finally reach the micro level.Specifically,the performance level of the steel industry depends on the overall macroeconomic factors,Through the analysis of economic cycle theory,it is found that when the national economy is in a downward stage,it is difficult for the steel industry to achieve better performance in the industry,because the downward trend of the overall economic situation affects the consumption and investment enthusiasm of the whole society firstly.The analysis of the industry level shows that the market structure of the steel industry is fragmented,and the lack of market concentration is the source of insufficient bargaining power of the steel industry.The so-called industrial linkage,in fact,belongs to the content of the industry.The manufacturing industry of the consumption side of the steel industry,the real estate industry and the infrastructure construction belong to the downstream industry of the steel industry,it plays a vital role in supporting the steady development of the steel industry;As upstream industries such as iron ore and coking coal,iron and steel industry in the steel industry is very important to cost control,taken together,these all are affecting millions of iron and steel enterprises,the development level of performance.According to the ISCP paradigm of industry research,the steel industry is analyzed theoretically,and finally,there is a comprehensive understanding of the development of the whole steel industry.As for excess capacity analysis aims to excess capacity in formation mechanism research to find the iron and steel industry in terms of capacity and effective use of why cannot achieve effective for years,and the waste of resources.In the empirical aspect,the representative of more than 20 listed companies,The so-called representativeness refers to the overall scale of about half of the total steel size,while the individual size and the area are relatively uniform,the use of listed steel companies for four to five years of financial data.Using DEA method and the method of factor analysis,through the efficiency in the industry of iron and steel enterprise technical efficiency,pure technical efficiency and scale efficiency,level of technology improvement and total factor productivity increase and industry performance affects the comprehensive analysis of the main factors to illustrate the development level of the steel industry and the factors affecting the development level of the steel industry.