Political Associated Path Of Private Enterprise Performance Empirical Research

Our country is in economic transition period, the economic resource scarcity characteristics show incisively and vividly, the economic subject to battle for survival and development for economic resources is increasing, our country private enterprises try to through the establishment of the relationship between the political association to strengthen with the government.Political related to enterprise’s production and business operation, financial policy,operating performance and capital market, has the important influence, in general, is the political association has a significant impact on business performance. Domestic research on political association is not yet mature, mostly with reference to foreign research idea and ignoring the decisive role of the market the special political system in our country, moreover due to the difficulty of the research on data acquisition is very high, economic consequences of different types of political association has never been to distinguish the study in accordance with the realistic national conditions. In fact,China’s unique political system determines the party committee, government grip and dominate the market, National People’s Congress, the Chinese people’s political consultative conference(CPPCC) various justice, participate in role and market power is relatively weak, and the existing research have proved that the government political associated enterprises better than Chinese people’s political consultative conference of National People’s Congress type more social responsibility, thus different paths of political influence on enterprise performance will vary. Private enterprise widespread financing difficult problem, and capital is the blood of the enterprise, private enterprise’s political association can help solve the problem of financing of private enterprises, thus influence enterprise operating performance? Traditional performance evaluation index ignore the cost of equity, the introduction of the index of EVA per share measure of enterprise performance, whether with ROE index to the same conclusion?Based on the above research train of thought, in this paper, according to the situation of our country political association of private listed companies can be divided into governmental political association and the National People’s Congress, the Chinese people’s political consultative conference, build the model to the comparative study on the relationship between the corporate performance, embodied in the government political association and the National People’s Congress, the Chinese people’s political consultative conference(CPPCC) political association of private enterprise financing situation, the profit ability, the influence of the EVA, in order to improve the research methods and conclusions in the field of political association. Based on the 2010-2013 and listed private enterprises in our country as the research sample, collected the privately operated enterprise executives by hand political correlation data, the empirical test:(1) the different paths of political association of private enterprises to obtain bank loans(2) the influence of different paths and political association’s influence on the profitability of private enterprises;(3) the influence of different path political association of private enterprise EVA. The empirical results show that both under the path of political association are to help private enterprises get bank loans, but the National People’s Congress, the Chinese people’s political consultative conference(CPPCC) sexual politics associated with private enterprise profitability and EVA is significantly related to the governmental political association and private enterprise profitability and EVA significantly negative correlation.Through theoretical analysis and empirical research, this paper found that there are political association of private listed companies in our country. First replied with a method of data regression of National People’s Congress on behalf of private entrepreneurs is keen on election, the economic motivation of the CPPCC, the National People’s Congress, the Chinese people’s political consultative conference(CPPCC),formulate policy to regulate members for motivation has a guiding significance, help purify the political environment; Helps the government authorities to discipline their behavior, do the "shall have the right to not capricious", timely devolution, create loose development environment for the enterprise has a certain meaning of warning.