Research On The Comprehensive Performance Of Cross-border E-commerce Listed Companies In China

In recent years,the vigorous development of cross-border e-commerce in China has attracted the attention of scholars.At present,the development of cross-border e-commerce in China shows a new trend: First,the institutional environment for cross-border e-commerce development continues to improve;second,the industrial chain of cross-border e-commerce is constantly improving.Third,cross-border e-commerce is becoming an important carrier of national strategy.Cross-border e-commerce is an emerging industry and is also highly sought after in the capital market.However,the industry itself is greatly affected by factors such as policies and exchange rates.In addition,the growth rate of global trade growth has slowed down year after year.Therefore,the performance level of cross-border e-commerce enterprises should also be paid attention to.This paper aims to study the comprehensive performance level of cross-border e-commerce listed companies in China.Based on the characteristics of cross-border e-commerce,this paper constructs a comprehensive performance evaluation index for cross-border e-commerce listed companies by using principal component analysis.A representative of 49 Chinese cross-border e-commerce listed companies and 30 new three board listed companies were selected as research objects to analyze performance levels and propose policy recommendations.The comprehensive performance level analysis shows that the comprehensive performance level of China's cross-border e-commerce listed companies is not high,and the overall performance level of most enterprises is lower than the average level,and the performance level of the same enterprise is highly volatile.Different from traditional foreign trade listed companies,the comprehensive performance level of cross-border e-commerce listed companies is also affected by the level of risk and cash flow.The annual performance level analysis shows that the solvency index,operational capability index and risk level evaluation index of China's cross-border e-commerce listed companies are consistent,and the solvency indicators,operational capability indicators,cash of the New Third Board listed companies are consistent.The analysis of the performance level of sub-indicators shows that the performance level of solvency of China's cross-border e-commerce listed companies is better,and the profit performance of listed companies in the New Third Board is better.Cluster analysis shows that there are fewer cross-border e-commerce listed companies with balanced performance levels in the industry,and most of the cross-border e-commerce listed companies have short-term performance capabilities.Therefore,we propose that at the industrial level,guidelines and policies should continuously promote the development of the industrial chain and promote the overall performance level.At the enterprise level,cross-border e-commerce companies should identify pain points of the performance and fill in the shortcomings of performance capabilities.Traditional foreign trade transformation cross-border e-commerce enterprises should pay attention to monitoring performance levels,and develop their own performance evaluation system to promote transformation.At present,China's research on cross-border e-commerce is based on qualitative analysis.This paper builds a comprehensive performance indicator for cross-border e-commerce enterprises,which can quantitatively analyze the performance level of cross-border e-commerce enterprises in China,effectively sort out the current status of cross-border e-commerce development and guide the development of the industry.