Research On Financing Efficiency And Influencing Factors Of Listed Companies In Construction Industry

As one of the important material production sectors of the national economy,the construction industry has been consolidating its position and role as the pillar industry in the national economy,and is an important engine for the development of the national economy and the improvement of people’s livelihood.However,with the rapid development of the construction industry,there have been some problems which can’t be ignored.The construction industry is capital and labor-intensive industry.In construction projects,the capital is large,the cycle is long,and the investment is concentrated,therefore the development of construction companies requires a large amount of funds as support.In recent years,with the diversification of the construction mode of large-scale construction enterprises,the shortage of funds has become more and more considerable as one of the bottlenecks in the development of construction enterprises of China.However,construction enterprises are generally faced with the obvious shortage of their own funds and low financing efficiency and need a lot of financing.For construction enterprises,it is very necessary to pay attention to the analysis and decision of financing efficiency.There are a large number of enterprises in construction industry of China,while limited to the acquisition of data,this paper mainly selects 43 companies in the construction industry in China from 2013 to 2019 as research objects.By sorting out the financing efficiency measurement indexes in the existing literature and combining the research purpose of this paper,an index system for evaluating the financing efficiency of listed companies in the construction industry was constructed,and the global entropy method was used to measure the financing efficiency of sample companies.On this basis,this paper makes a comparative analysis of the influencing factors of listed companies in the construction industry by correlation analysis software.The overall regression analysis and grouping regression analysis of the sample data show that the growth rate of main business income,return on equity,efficiency of capital use,proportion of equity financing,enterprise liquidity and GDP growth rate all have significant positive effects on the financing efficiency of enterprises.In view of the above data analysis conclusions,in order to improve the financing efficiency of listed companies in the construction industry,this paper provides some reasonable Suggestions on improving the financing efficiency of listed companies in the construction industry from the perspectives of enterprise,market and government.