The Analysis Of The Performance Evaluation And The Influencing Factors On Fishery Listed Companies

Since the reform and opening up,there is a rapid development of fishery economy in our country,according to the《The National Fishery Development twelfth The five years plan(2011-2015 year)》,the total output value of the fishery economy in 2015 reached to the 2.1 trillions yuan,at present,China has become a large country of producing the fishery and aquatic products export and the ocean fishery,the total output of aquatic products for more than 20 years keeped in the first in the world.But there are some problems in the development of the fishery economy of our country at present,such as the contradiction between the development of the fishery economy and destroyed ecological environment;the issues of the quality and safety of the aquatic products have become increasingly prominent;The small、scattered、the low degree of organization of the fishery economy will become the constraints of the industrial upgrading and the productivity progress,can not adapt to the requirements of technology system construction of the modern aquaculture industry.At the same time,China’s demand for aquatic products continues to increase,the demand for aquatic products in 2035 predicted may reach to the 105.8847 million tons.It is the representative enterprise of the fishery enterprise,with the advantages of the funds、management system、organization and fishery technology,can achieve the structure adjustment of the fishery industry and promote the industrialization of fishery and improve the quality of the aquatic products and enhance the international competitiveness of China’s fishery.At present,the performance of the Fishery listed company is unsatisfactory, good and bad one together,and need the performance evaluation to put forward the scheme of the improvement, also find the factors that affect the efficiency of production in order to achieve the benign development of Fishery listed company and better play its role in China’s economic development and the development of fishery economy.He does the data collection of the eleven Fishery listed company,including company stock code、the time and the place of being the listed company、address、the representative of the company in the law、the total value of the market capitalization、main business、total assets and the rate of return of the total assets, descriptive understanding of the company;specific empirical part and get the data of the input index of the eleven Fishery listed company from 2012 to 2014 year,including the total assets、operation costs and the total number of employee and also obtain the data of output factor indict,including the rate of return of the total assets and the stock total market value;in the analyzing part of influencing factors,he further get the total assets turnover rate and the bachelor rate and debt asset rate and the increase rate of main business revenue.In short,make a thorough understanding of the fishery listed company.Combining with the theory of the listed company and the enterprise’s nature,he choose the DEA-Tobit model.Using DEA-BCC model for empirical analyzation,analyze the comprehensive technology efficiency and pure technology efficiency and scale efficiency,find the good DMU is not many;empirical analysis based on DEA-Malmquist model,a dynamic analysis on production performance,find the total factor productivity of some DMU get backwards.He analyze the influencing factors of production efficiency through the Tobit model,these factors include the total asset turnover rate and debt assets rate and the bachelor rate and increase rate of the main business revenue.The empirical results show that there is not correlation between the total assets turnover rate and the comprehensive technology efficiency(TE),but there is a positive correlation between the bachelor rate and comprehensive technology efficiency(TE) in the 1% level of significance,there is a negative correlation between debt assets rate and comprehensive technology efficiency(TE) in the 10% level of significance, there is a positive correlation between the increase rate of the main business revenue and comprehensive technology efficiency(TE) in the 10% level of significance.Some suggestions are given according to the empirical conclusions,they should develop the ocean fishery and promote rate of the progress of the fishery technology and the pure technology efficiency based on the DEA model; According to the conclusion of the Tobit model empirically,he is proposed to control the sales cost and do the establishment of enterprise system to attract and motivate high- quality talents and increase the increase rate of the main business revenue and do the management of the debt assets rate and so on.