Study On Evaluation Of Listed Enterprise Competitiveness In Feed Industry

Feed industry in our country started in the late 1970s and entered the big development period in the middle of 1980s.With 20 years' development, China has become the second biggest country among the countries that produce feed, only inferior to the United States. Feed industry has become one of most important industrial system in our country and plays more and more important role to Chinese economic development. As outstanding ones of feed enterprises—listed feed-enterprises , although they have only small proportion among feed enterprises presently, their average primary operation income has arrived at 11.5 billion yuan in 2004,and they have had a certain size, and most enterprises have strong influence in a certain market areas, their competences affect directly the development of feed industry.Competitiveness is the fundamental weapon to defeat the opponent and is an important foundation for the survival and development of enterprises. In the era of little profit and fierce competition, only constantly improving their competitiveness, feed enterprises can remain invincibly in the fierce competition. It should help company to understand one's own position in the trade, and to take the corresponding measures to improve and upgrade its achievement through the evaluation of feed enterprises competitiveness, at the same time, it also can offer reference for instituting and implementing the national macroscopically policy. Currently there are a few articles about feed enterprises, but these articles mainly focused on qualitative researches such as the status quo and trend of the feed industry, the status quo and existing problems of the feed enterprises, countermeasures, recommendations and so on, there are little quantitative researches about competitiveness evaluation index system and competitiveness of feed enterprises. Therefore, how to construct suitable feed enterprise's evaluation index system and method is of great significance for evaluating listed feed-enterprise's competitiveness. On the basis of analyzing the competitive features of feed enterprises and the factors of affecting enterprise's competitiveness, colligating the studies of domestic and international scholars, the paper constructs feed enterprise's competitiveness evaluation index system that includes seven subsystems and eighteen monomial indexes from external factors, internal factors and the future development factors to consider. Moreover, the paper adopts Analytic Hierarchy Process method and expert investigation method to determine the weight of each index. Lastly, the paper selects 11 listed feed-enterprises from stock exchanges of Shanghai and Shenzhen as the sample, adopts the statistical data from China's Securities Regulatory Commission, stock exchanges of Shanghai and Shenzhen and 2004 annuals, utilizes Gray multi-layer synthetic evaluation method to...