Research Of The Influencing Factor On Chinese Listed Agribusiness' Profit

China is a large agricultural country as well as a developing country. Agriculture has special importance in China. Accelerating the development of agriculture can't go without the construction and improvement of the industrialization of the agricultural organizations; either can't go without the operation taken in enterprises with the characteristics of modern enterprise system. Representing the advanced agricultural productivity in china, the listed Agricultural companies give a great drive not only to the support and help to the peasant household on carrying on agricultural productive investment, but to the realization of the agricultural scientific and technological progress. But actually, the profits state of the listed companies make people feel very concerned, as the average earning ratio per share in A-share of stock markets of Shanghai was only 0.17RMB in 2006, the average earning ratio per share of the A-share of Shenzhen stock market is only 0.11RMB, although the average earning ratio per share of the agricultural listed companies were positive in 2006, but only 0.078.the average earning ratio per share in A-share of stock markets of Shanghai was only 0.35RMB in 2005, the average earning ratio per share of the A-share of Shenzhen stock market is only 0.22RMB, but the average earning ratio per share of the agricultural listed companies were negative in 2005, the average value were -0.027, compared with the performance of the whole listed companies, the listed agribusiness's profits were so poor. This shows that profitability of all agricultural listed companies had a slight increase in 2006, but it was low relative to the whole listed companies. There were 10 listed agricultural companies had the negative value in the earning ratio and return on net assets per share in 2006, which accounted for 15.87% of the whole companies, There were 16 listed agricultural companies had the negative value in the earning ratio and return on net assets per share in 2005, which accounted for 26.23% of the whole companies, while this number in 2004 were 12, 4 less than that in 2005, It proves that the whole performance of the listed agricultural companies was worrying. It is obvious that the listed agricultural company in china has not played its full function in economic development. Neither the number of the listed agricultural company can meet its importance to the national economy, nor do their qualities make people satisfied. The listed agricultural company must improve its ability of realizing profits in order to shoulder its due responsibility.This thesis is to analyze what are the factors influencing profits of the listed agricultural company and how the listed agricultural companies achieve and maintain sustainable profits growth, this is a problem urgently needs to be solved. On the basis of putting forward problem of studying, this thesis has designed the following concrete targets:â‘ It analyzes the influence that the encouragement from the management teams of listed agriculture companies has on companies' profits.â‘¡Analyze the stock share structural influence on making profits in the company.â‘¢Analyze the influence that the listed agricultural company's economic allowance and support has on making profits in the company;â‘£According to the results of study, put forward the political recommendation on how to improve the profit state of the listed agricultural company.To achieve the research goal described above, based on the search and analysis of the literature, the reference of the theory and practice home and abroad and the integration of the existed research results, this thesis use the statistics that could be obtained at hand and use plural regression model and panel data model respectively to carry on the positive research on the profit of the listed agricultural company which listed on two exchanges in Shenzhen and Shanghai. Through the contrast, we find the analysis result of the panel data model better; it combines the characteristics of the cross section dimensionality and that of time dimensionality together, and gives play to the characteristics of the sample data more effectively. Thus, we choose a better model analysis result in order to reveal the reason why different agricultural profit level of listed company exists, and expect to offer some inspirations and references to increase of the profit of the listed agricultural company in china. This research will be propitious of government to constitute some systems suiting the development of Chinese listed agricultural company,to create the more advantageous market environment; be propitious of companies to constitute the strategic planning to enhancement profit grows according to own condition; be propitious of general investors to make a more rational choice.The central contents are as follows:One: Current situation analysis of the listed agricultural company. Analyze the position that the listed agricultural companies take in the whole stock market. Summarize the industries and the regional division, the financial state, the stock structure, subsidy and support policies of listed agribusinesses. Analyze the relation between listed agribusiness and securities business, and the relation between the listed agricultural companies and WTO.Two: The analysis of the influence that the encouragement from the management office in listed agricultural companies has on the profits. Based on the panel data model, we chose some indexes that reflect the encouragement from the management office in listed agricultural companies as the explaining variable to analyze the influence that the encouragement of the management levels has on the profits of the listed agricultural companies.Three: Analysis of the influence that the stock share structure has on the profits of the listed agricultural companies. Based on the panel data model, chosen a series of indexes weighing the agricultural stock right structure of listed company as the explaining variable, analyze the structural influence on making profits in the listed agricultural company.Four: The analysis of the influence that subsidy and support has on the profit of the companies. The subsidy income is an important measure that the government gives financial support to the listed agricultural company. Based on the panel data model, analyze the influence that the subsidy and support has on the profits of the listed agricultural companies.Five: recommendations and proposals. Based on the summary of the seven chapters before, considered the current situation of the listed agricultural company, we at last offer the suggestions and proposals of improving the profits of the listed agricultural company.Through the summary of the study, we have proposed the following proposals and suggestions in order to achieve the goal of improving the profits of the listed agricultural companies: First of all, we should raise the income of the management office workers and ratio of their stock shares in the listed agricultural companies; raise the dead level and relative level of the income of the management level officials, optimize their income structure, promote the management level staff to hold the stock share. Secondly, optimize the stock right structure of the listed agricultural company; Set up the stock right concentration structure that stock rights are checked and balanced by several big shareholders, bring in the institutional investors with good managerial abilities, establish and improve the supervision system. In addition, set up the reasonable subsidy policy in listed agricultural companies, build a just and effective subsidy system, modulate the subsidy direction, and eventually raise the competitiveness of the listed agricultural companies.