Financial Performance Evaluation And Influencing Factors Of China's Wholesale And Retail Listed Companies

In recent years,the development of economic globalization has led to the rapid growth of the tertiary industry.Many advanced developed countries and tertiary industries have become pillar industries.In the tertiary industry,the growth of the wholesale and retail industry is particularly rapid,and the proportion of the total social production value has increased year by year,which has become an important indicator for evaluating the economic development of a country.Under the influence of the global environment,China's wholesale and retail industry has developed rapidly and its market competitiveness has been continuously enhanced.How to evaluate its financial performance and influencing factors has become a topic of concern in the academic community.This paper first studies the relevant literature and related theories as the cornerstone of the following discussion.Then,the financial evaluation method was selected.In the selection of evaluation indicators,in order to combine the industry characteristics of the wholesale and retail industry,the overall listed company was used as a control sample,and the financial performance evaluation reflecting the characteristics of the wholesale and retail industry was screened by the difference test.index.Then,based on the panel data-based factor analysis method,the financialperformance of China's wholesale and retail industry is evaluated,and the industry ranking of China's wholesale and retail financial performance is obtained,and the only financial performance in the whole industry is continuously selected and growing rapidly.Suning Tesco Company.Then,through the panel data regression,the impact of corporate governance and capital structure on the financial performance of the wholesale and retail industry was studied.Then,the case analysis of Suning Tesco Company is carried out.By analyzing Suning Tesco's own financial performance and its influencing factors,combined with its development history and strategy.Finally,summarize the full text and make recommendations on how to improve financial performance in the wholesale and retail industry.The conclusions of this paper are as follows:(1)In the process of selecting financial evaluation indicators,from 2013 to 2017,the financial indicators of the wholesale and retail industry and the financial indicators of all listed companies were taken as samples,and the Mann-Whitney U test was carried out.Most of the indicators of the difference are significant,which means that the financial indicators of the wholesale and retail industry have the characteristics of their own industry,and can not follow the indicators of the overall performance evaluation of listed companies.(2)This paper takes 122 domestic and retail listed companies from 2013 to 2017 as a sample,adopts factor analysis method for financial performance evaluation,and calculates the comprehensive scores and growth rate,and finds financial performance in the whole industry.There are two listed companies that continue to grow,and Suning Tesco has grown even faster.(3)Based on the factor analysis method,the comprehensive score of financial performance is calculated by using panel data regression method,with corporate governance and capital structure as explanatory variables,and the factors affecting the financial performance of wholesale and retail industry are studied.In the middle,the equity balance has a positive impact on the financial performance of the wholesale and retail industry;in the capital structure,the asset-liability ratio and the equity ratio have a negative impact on the financial performance of the wholesale and retailindustry.(4)This paper analyzes the case study of Suning Tesco,analyzes the development history and strategic direction of Suning Tesco,as well as the analysis of the comprehensive scores of profitability,operational capability,development capability and financial performance,and the financial performance of the wholesale and retail industry.The analysis of equity balance,asset-liability ratio and equity ratio,combined with the three,concluded that,first,Suning Tesco's equity financing model significantly increased its equity balance,which in turn led to a corresponding increase in financial performance;Suning Tesco adopted the Internet financial model to reduce its own asset-liability ratio and equity ratio through capital financing,which improved financial performance.