The Study On The Provincial Transportation Investment And Financing Platform Diversification And Performance

Provincial traffic investment and financing platform is a product with the development of Expressway in China, bearing the construction and management of most of the highways and other transportation infrastructure In the provinces. With the national policy and the construction of transport infrastructure gradually improved, the platforms how to get more development opportunities and also reduce the dependence on the highway management, this is a major problem faced by the sustainable development of the platform. At present in order to expand market share many platforms choose to get into other fields, such as the relevant or irrelevant industry. Of course, Many scholars believe that enter the other industries can not only effectively disperse enterprise risk, but also to improve the utilization rate of enterprise resources, but also there is a great disadvantage. Therefore, there has been a debate about the diversification of the enterprise, whether it is conducive to the development of the platform, this paper intends to analyze the problem.First, the article elaborated the theory of diversification at home and abroad, and also discussed the domestic research status about the traffic diversified investment and financing platform. By choosing published financial statements of 22 provincial transportation investment and financing platform from 2010 to 2013, Combined with state-owned enterprises performance evaluation index in the index to calculate, using factor analysis to extract 5 common factors, Comprehensive ranking by using the comprehensive score of platform performance, in the process of analysis of the index found that there is no correlation between the two variables, In order to analysis the influence degree of diversification on the corporate performance, through the correlation analysis and linear regression analysis of the measure the degree of diversification and extraction of public factor, there is a negative correlation between the degree of diversification and profitability, and there is a positive correlation between the quality of assets. For better analysis of diversification on the platform according to the East, central and western regional division to divide the sample, it showed that the degree of diversification has different impacts on the platform in different regions. Finally combining traffic holdings co., LTD in Jiangsu, it analyzed its diversified influence on enterprise performance, in order to verify the results of the analysis of this article. Finally, this paper summarized the results of the analysis, and made several recommendations for the diversification.Compared with the existing research and literature, most of the researches of transportation investment and financing platform of diversification is mainly from the qualitative point of view, the analysis combining qualitative and quantitative research is relatively less, in this paper, by combining with the related data and the method of qualitative and quantitative study to Analysis on this issue, in order to provide reference for the platform the implementation of diversification.