The Positive Analysis Of The Impact On Operation Performance Of Non-agricultural Business For Agricultural Listed Companies

The healthy development of China’s agricultural industry is dependent on agriculture listed companies. Agricultural listed companies leading agricultural enterprises, using its advanced productivity and excellent organization and management capabilities, the industrialization of agriculture continuously push forward toward to large-scale, intensive, capital and modernization roads, shoulders industrial structure adjustment and the burden of upgrading in China’s agriculture. Development of agriculture, improving the level of agricultural productivity, and stability the development of its national economy have an important significance for our society.However, in recent years, the phenomenon of non-agricultural operations in China’s agricultural listed companies is very seriously. Agricultural listed companies this phenomenon has seriously hampered the development of China’s agricultural economy, and bring a lot of adverse effects. Worth considering is that non-farm operation does not raise the level of performance of listed agricultural companies, but affect the stability of the company operating conditions. The cause of non-farm agricultural listed companies have many aspects operations, the first is pursuit of profit maximization and risk diversification, the second is that restrictive agriculture itself is difficult to make agriculture the main industry bigger and stronger, the third is some companies just to use the "shell" to Listing, the fourth is blindly follow fueled, the fifth is that internal corporate governance structure is imperfect.Through select37agricultural listed company’s financial indicators2010,2011,2012data10years as a sample data, using principal component analysis from profitability, operational capacity, solvency, ability to grow in four areas of agricultural comprehensive evaluation of the level of performance of listed companies, the study found that listed companies in China’s agriculture is low overall operating performance levels, a large gap within the industry, the agricultural part of the overall performance of listed companies as well as various aspects of capacity is not balanced.Principal component analysis results in agriculture listed four basic capabilities and comprehensive performance, the paper uses a series of econometric methods of quantitative analysis of the extent and four non-agricultural operations capabilities, the relationship between the overall performance, the extent of non-agricultural operations has a significant negative impact on profitability, solvency, growth capacity and overall performance and the operational capacity has a certain degree of negative influence.After analysis and argumentation based on various paper presents relevant policies and proposals.First, to strengthen the supervision of agriculture and management of listed companies; Second, increase business compliance costs; Third, more preferential policies for investment in agriculture, the environment and create a better agriculture; Fourth, improve the modernization of agriculture listed companies enterprise system; Finally, attention to management talent, improve management quality.