Study On The Influencing Factors Of Agricultural Listed Company's Performance In The Capital Market

Listed Agricultural Firms is the most important ligament between the capital market and the agricultural enterprise. The development of Listed Agricultural Firms is not only beneficial to solve the financing difficulties problems of the agricultural company, but also play important role in promoting the process of modernize agriculture. Therefore, this paper selects Listed Agricultural Firms as the research object. The paper defines stock prices as the quantitative indicators of agricultural listed companies' performance in the capital market, explore the factors of stock price.In this paper, both ideas and scheme in research is designed based on the study of agricultural listed companies at home and abroad, with agricultural class stock prices of listed companies as the research object. At first, the basic statistical analysis method is used on study of the basic statistical characteristics of agriculture listed company stock price and the current situation of agricultural company analysis. Secondly, this paper selected the financial information at the company level by using multiple regression model and agricultural policies at a macro level by using event study method as the influence factors of capital market performance of the agriculture listed companies and got main conclusions as follows:(1)Listed Agricultural Firms in Chinese capital market is still in a weak position. From the development present situation of agriculture listed company, the current market in the proportion of the total current market is very small, the operating performance of agricultural listed company is polarized and the performance is poor. Basic statistical characteristics from agriculture listed company stock price show that the agricultural sector as a whole there is a long-term since the correlation and the stock price fluctuations are independent identically distributed(2)It is true that there is a correlation between stock prices and accounting information in listed agricultural company. In 2013, the main financial information can explain stock prices have obvious decline from 2012, which is only 36.6%. This means its explanation is volatile.(3)The central number one file in 2013 and 2014 have positive influence to the stock price of listed agricultural firms in a short term. For two policy events affect the significance of abnormal returns analysis shows that in 2013 the central number one file has made the Shanghai composite index and Shenzhen index significant abnormal accumulative total revenues. However, it is not significant in 2014.Finally, this paper points out the main cause of influencing factors about the agricultural listed company in capital market based on the results of empirical study and give the development of agriculture listed company to table a proposal from regulators, investors and listed company itself.