Research On The Application Of Financial Strategy Matrix Of Tourism Industry Listed Companies In China

With the continuous development of the theory and its application of strategic management, the financial strategy, which is one of the important components of the strategic management, gets more and more attention on its meaning for business operation and strategy implementation. But compare to the research on the theory of the financial strategy, application analysis of financial strategy in the actual business operations is not enough. The applied empirical research on the listed company which is based on the financial strategic matrix, one of mature and systematic findings of the research on financial strategy, is rarely seen. Based on this background and theoretical basis, this article explores the application of the financial strategic matrix in listed companies of domestic tourism industry. Currently, Chinese tourism industry is in the mature stage in which various kinds of conflicts occur. First, competitions between tourism enterprises are fierce. Second, traditional tourism services have been challenged with the development of information technology. Third, the contradictions, between increased consumer choice and the similar tourism services, are intensified. In this background, all of which means it is imperative that listed companies of domestic tourism industry have to make a strategic transformation right now. Consequently, we can shift our emphasis from marketing and technology to services and management.This article selected the financial data from 2009 to 2013 of China’s thirty-two listed companies in tourism industry, and used financial strategy matrix to estimate the set value condition and capital condition of selected samples. Furthermore, the article removed the sample that which fluctuates greatly and used the cluster analysis in the remaining samples. Through this process, we knew that China’s listed companies are usually under the condition of capital shortage and value enhancement. Though the correlation test which is based on the model of financial strategic matrix, we also knew that there is a positive correlation between enterprise value and share price, and a negative correlation between cash status and the growth rate of the debt-to-asset ratio. Taking GL joint-stock company as an example, this article gave some suggestions on making adjustments for financial strategy, which is based on the financial strategic matrix analysis. Finally, the article drew the conclusion that it’s feasible and scientific using the financial strategy matrix in the analysis of listed companies of domestic tourism industry.