Research On The Correlation Between Asset Structure And Operating Performance Of GEM Companies

China’s GEM market was officially opened on October 30,2009.Compared with the main board market,the important feature of the Chi Next market is that the threshold for the listing of companies is low,and the listing conditions are relatively relaxed,so the development is extremely rapid,providing financing channels for the development of many high-tech enterprises and small and medium-sized enterprises,and promoting the continuous improvement and development of China’s multi-level capital market system.From the actual point of view of China’s GEM companies,generally have the common characteristics of large development potential and good growth,but due to the low threshold for listing,most companies have a shorter establishment time,relatively small scale,and weak ability to cope with risks.In the increasingly fierce market competition environment,the operating performance of some companies continues to decline,and the development of GEM companies is facing more severe challenges.The changes in the company’s performance are affected by many factors,and in recent years,many scholars at home and abroad have conducted a series of studies on this from different perspectives and achieved rich results.However,looking at the existing achievements at home and abroad,the results of studying the correlation between the company’s asset structure and business performance from the perspective of asset structure are relatively rare,and a relatively complete theoretical and methodological system has not been formed.Therefore,on the basis of combing the existing research results at home and abroad,based on the relevant theories of asset structure and business performance,this paper theoretically comprehensively explains the influencing factors of asset structure,analyzes the internal mechanism of the correlation between asset structure and business performance,and constructs a comprehensive indicator system and evaluation model for business performance evaluation that is more in line with the actual and industry characteristics of GEM companies.On this basis,the annual report data of GEM companies from 2015 to 2019 was selected as a sample,and the descriptive statistical analysis of the different industries of GEM companies was carried out,and the correlation between the asset structure and operating performance of GEM companies was empirically studied by using correlation analysis and regression analysis methods.The study found that there is a correlation between the asset structure of GEM companies and the company’s operating performance.Among them,the proportion of cash assets and current assets is positively correlated with the company’s operating performance,while the proportion of accounts receivable,inventory,fixed assets and intangible assets is negatively correlated with the company’s operating performance,of which the correlation degree of intangible assets is relatively weak.Finally,according to the conclusions of theoretical analysis and empirical testing,from the perspective of asset structure,countermeasures and suggestions are put forward for GEM companies to strengthen asset management and optimize asset structure.To a certain extent,the research in this paper deepens the research on the influencing factors of asset structure and the evaluation of enterprise operating performance,and provides new ideas and directions for further optimizing the asset structure of GEM companies and strengthening performance management.