Study On The Financial Performance Evaluation In Textile Industry Listed Companies Based On The Perspective Of Industrial Agglomeration

Thirty years since the reform and open to the outside world, China's textile industry has achieved fast development,and so far China has become the largest textile producer and the largest export country in the world, Which the unique textile industry agglomeration economic made outstanding contributions. At present,the accounting theory in our country has little research on financial performance evaluation in textile industry listed companies based on the perspective of industrial agglomeration and it is urgent to introduce scientific and effective assessment indicator system to solve the financial performance evaluation problem, therefore, evaluating the financial performance of China's textile industry agglomeration has far-reaching significance.First of all, This paper summarize documents on industrial agglomeration and industry agglomeration financial performance at home and abroad.Based on it, the paper explain the related theory of industrial agglomeration and financial performance evaluation. Secondly,measuring textile industry agglomeration extent of Zhejiang?Jiangsu?Shanghai and Guangdong by spatial Gini coefficient method,and according to the result analying the overall situation and the growth ability.At last, elaborating the formation mechanism of financial performance inside the agglomeration areas and its financial performance in industrial agglomeration, providing the basis for the empirical sample and financial target selection. In the construction of evaluation index system,from six dimensions including debt paying ability?profitability?development ability?operation capacity?risk level?industrial concentration,this paper select twenty-seven financial indicators.Then using principal components analysis and stepwise linear regression method to select seventeen important financial indicators,and the weigh of six different aspects is determined via AHP, finally, financial performance evaluation indicater system in textile industry listed companies based on the perspective of industrial agglomeration is established.On the empirical part,it take the Yangtse Delta and the Zhujiang Delta for example,select thirty-six textile industry listed companies located in Zhejiang ? Jiangsu ? Shanghai and Guangdong,extract financial datas from 2011 to 2013,and according to the established assessment indicator system,it calculate sample companies' financial performance scores.At last,the study come to conclusions that industry agglomeration is a way to improve textile financial performance,the companies' financial performance scores in Zhejiang and Shanghai tend to increase from 2011 to 2013,but the companies' financial performance scores in Jiangsu and Guangdong tend to stable, the financial performance of “the Yangtse Delta” higher than “the Zhujiang Delta”.Combined with study conclusions, the paper table related proposals to constract a textile industry agglomeration's financial performance evaluation indicater system and the result calculated by it can provide decision references for stakeholders.