China's Listed Companies Overseas Guarantee Its Performance Impact Of Empirical Research

Listed company external guarantee means listed company as the guarantor put guarantees for other market players' debt and credit activities, but also includes personal debt guarantees. In the market economy, external guarantee is a kind of listed companies' operation conducts to reduce the risks of exchange, and promote the development of the capital market. However, due to China's development of the capital market is in a short time, listed companies' operational activities do not standardize, coupled with the country's social credit resources insufficient, the development of professional guarantee organization not perfect. Many problems about listed companies' external guarantee have occurred frequently, for example, listed company was used malignantly as a guarantee stool, non-standard guarantee for subsidiaries, or current "listed company guarantee circle" phenomenon. Because of guarantee, a lot of listed companies are in difficulty: the litigation disputes are continuously which are affecting the normal management of the listed companies seriously; and some even go to the edge of withdrawing from stock market.Predicting the relation between external guarantee and finance of a listed company is an important and meaningful topic, and some efforts have been made to explore this relation in China. Embarking upon guarantee and finance, through qualitative and quantitative research on the effect of China's listed company's guarantee on the company's performance, and using factor analysis, comparative analysis and multiple li- near regression analysis methods prove the hypothesis. The conclusion is that external guarantee would reduce the performance of listed companies with special treatment, and irregular external guarantee would reduce the performance of listed companies without special treatment, and if the guarantee net assets ratio is below 30%, the company's financial condition is relatively safe. This paper aims at presenting advice for the company managers, and providing reference to other stakeholders, ultimately promoting listed companies to improve the security and resolve the risks of external guarantee.