The Impact Study Of The Government Subsidies For Agricultural Listed Companies Operating Performance

As a representative of our country's advanced agricultural productivity, agricultural listed companion's development has important lead and demonstration in the change of agricultural management organization way and agricultural modernization. So the government gives agricultural listed company more government subsidies. In this background, though our agricultural listed companies are developing, at the same time they expose to a series of problems. Therefore, how the impact of the government subsidies for agricultural listed companies operating performance, how the efficiency of government subsidies to agricultural listed companies and how to promote the efficiency of agricultural listed companies are urgent to solve.In this paper,we choose the 2005—2009 data of 30 agriculture listed companies issuing in Shenzhen and shanghai exchange as sample. In virtue of Stata 8.0, we use linear regression method to analyze the impact of government subsidies for agricultural listed companies'achievement;at the same time we use software of DEAP 2.1 to analyze the efficiency of government subsidies to agricultural listed companies. The main conclusions of the paper are as follows:First, through the linear regression analysis we have the conclusion: subsidies virtually increased profits of listed companies, but in fact subsidies hadn't improved real profitability and development level. It could lead to profitable illusion and contributed to the efforts of stakeholders not behavior. And tax rebates for agricultural listed companies is an improvement profit level, but did not change the development of agricultural listed companies, therefore, ability to government subsidy is no longer an option.Second, 57% of agricultural listed companies'the government subsidies granted by the state to less than 1 in the 30 samples. The efficiency of agricultural listed companies didn't get government subsidies failure anticipated target. In addition, efficiency levels of the government subsidies for the agricultural listed companies are different. Moreover the agricultural listed company's overall efficiency need further improved, most agricultural listed companies fails to achieve economies of scale state.