Financial Performance Evaluation On Listing Corporations Of Automobile Manufacturing Industry In China

With the rapid growth of GDP and the increasing consumption demand of cars in China, the automobile industry has become a pillar industry of our country, influencing the whole economic development, the flow indirection and rate of the industrial financial capital and the nonindustrial financial capital. The financial performance of listing corporation has become a key issue of the stakeholders such as shareholders, creditors, employees, government relevant departments and the level indicator in automobile manufacturing industry.In this paper, the author tries to briefly describe the meaning and the purpose of this research, emphatically defines and selects the content and method, focused on reviewing the theory of financial performance evaluation at home and abroad at first. Based on the research results from the predecessor, the paper introduces the theory of financial performance evaluation and constructs the system of financial performance evaluation of listing corporation in automobile manufacturing industry, which researches from the characteristics and problems. Through the principle putting and repeated comparison, the paper selects15indexes from profit ability, debt capacity, operating capacity growth and expansion ability to accomplish the construction of the evaluation system. Then, the paper chooses36listing companies in automobile manufacturing industry in2011as samples, with the help of the software SPSS, using principal component analysis to do empirical study.From the empirical analysis, the reasons which effect the financial performance evaluation of listing corporation in China are as follow. Firstly, the adjust control of the country by policy affects the profit level. Secondly, brand competition ability is insufficient, which affects the operating level of development. Thirdly, management innovation ability is poor, which affects the operation and debt level. There are4aspects to improve the financial performance evaluation. Firstly, create economics of scale and enhance the level of profitability. Secondly, implement independent innovation and improve the capacity of development and expansion. Thirdly, Strengthen brand construction and promote the business growth. Fourthly, strengthen the management of innovation and improve the operation ability and the level of debt.In a word, the study on the construction of financial performance evaluation system about listing corporation in automobile manufacturing industry has certain feasibility, providing a basis or method.