The Influence Of Primary Business On The China's Sports Industry Listing And Listed Companies' Performance

As an emerging industry,the sports industry is rapidly developing under the three major factors of national policy,consumption upgrading and health awareness.This makes people and investors pay more and more attention to the sports industry and actively seek its intrinsic value.The development of sports industry and the performance of sports industry companies have also become the focus of most scholars.Objective: This paper focuses on the influence of primary business on company performance.The primary business is one of the most basic and important contents of the company's strategy.The main business optimization has certain help and improvement for the company's business performance.Methods: This paper adopts a combination of qualitative and quantitative analysis.The article establishes the theoretical basis for the relationship between company performance and main business.Through empirical analysis to selects the relevant data of 38 sports industry listed companies and listing companies in China from 2013 to 2017 as a sample.Divide the main business into three categories: sporting goods,event organization and operation,and other sports-related services.Using the Huffington Index to indicate the concentration of the company's main business.Based on theoretical analysis and literature research to build regression model,which is mainly based on the main sports companies.According to the primary business concentration of each sports company,this paper study the relationship between the primary business concentration and performance,and the specific impact on the performance of sports-related companies.Results: 1.The Herfindahl index has a positive correlation with ROE,and the impact is more significant;2.The Herfindahl index has a positive effect on EPS,but the impact not significant.Conclusion: 1.The higher the concentration of the main business has a greater positive impact on the company's ROE.It is beneficial to improving the operating efficiency of the company;2.the concentration of the main business has a positive effect on EPS.Sports companies should focus on optimizing the main business structure and improving the concentration of core business.