Research On The Influencing Factors Of Investment Value Of Chinese Listed Companies

The biomedical industry is related to the stable development of society,people’s livelihood health safety and national security,so the biomedical industry is a key industry supported by the state.The report of the 20 th National Congress of the Communist Party of China pointed out: "Promote the development of strategic emerging industry integration clusters,take biotechnology-related industries as a new engine,and the development of biomedical industry depends on the development of biotechnology".In the "Eleventh Five-Year Plan" to the "14th Five-Year Plan",China has clearly proposed to accelerate the development of the biomedical industry.In order to promote the development of the biopharmaceutical industry and better carry out investment and financing activities,biopharmaceutical companies also attach more importance to the improvement of their own investment value,so this paper takes listed companies in the biopharmaceutical industry as the research object,and uses multiple stepwise linear regression to empirically analyze the influencing factors of investment value of biopharmaceutical listed companies in China.This paper explores the influencing factors of investment value of listed companies in the biopharmaceutical industry through the research framework of theoretical research,current situation analysis,empirical testing and policy recommendations.Firstly,the concept and theoretical basis of investment value are introduced,and then combined with the analysis of the development status of the biopharmaceutical industry,it is concluded that with the support and guidance of national policies,the demand for biomedical services is increasing,and the in-depth study of the influencing factors of the investment value of biopharmaceutical companies can help biopharmaceutical companies better enhance their investment value,reduce financing costs,and achieve better development.This paper selects the panel data of 290 Chinese biopharmaceutical listed companies in the A-share industry from 2019 to 2021,first analyzes the coefficient with strong correlation for dimensionality reduction,and secondly finds the regression equation with a strong fit degree through multiple stepwise regression,and finally screens 7 indicators from 33 indicators affecting the investment value of biopharmaceutical listed companies.The results showed that the profitability,cash capacity,development ability,R&D expenditure intensity,proportion of technical personnel,proportion of outstanding shares,and proportion of employees with college degree or above had a significant impact on the investment value of biopharmaceutical listed companies,among which profitability,cash capacity,development ability,R&D expenditure intensity,proportion of technical personnel,and proportion of employees with college degree or above had a significant positive impact on the investment value.The proportion of outstanding shares has a significant negative impact on the investment value.Finally,combined with the theoretical and empirical analysis results,it is proposed to actively introduce professional talents and advanced technologies to biopharmaceutical companies to improve their independent innovation capabilities.Reasonably set the proportion of outstanding shares and appropriately enhance the concentration of equity;Improve relevant policy recommendations for relevant investment and financing platforms and risk control mechanisms.