Research On Profitability And The Influencing Factors Of Listed Companies Mainly Selling Electricity

As the implementation of "several opinions on further deepening the reform of electric power system” by the central committee of the communist party of China,the new electrical change become a hot topic of electric power industry.The biggest bright spot of this electrical change is to hold the middle part but to open both the beginning and the ends".On this background,selling electricity market is becoming a hot market to invest.As a new industry segment,the newly established companies and potential entrants to market urgently need to know more information about the profitability of electricity selling business,such as how to comprehensive evaluation the profitability of electricity selling business,the profitability of electricity selling business in periods,which factors will significantly affect profitability.This article is then carried out.First,on the study of domestic and foreign literature,and the basis of combination of profitability and influencing factors,this article illustrates the necessity and improvements of this study.Second,this paper selects 10 listed companies,whose main business is selling electricity,as the research object,to analyze the present profit model,profitability scale and other information by adopting the combination of qualitative analysis and quantitative analysis with their financial data during 2011-2015.Third,this paper constructs the system of profitability evaluation.In this system,the paper selects appropriate profitability evaluation index,then uses factor analysis method and gray correlation analysis method to deal with these indexes with the help of SPSS,and finally ranks the profitability of 10 listed companies mainly selling electricity.Forth,this paper gets the main influencing factors of profitability of listed companies mainly selling electricity under different business model with the help of regression analysis and then provides some suggestions to promote their profitability.The purpose of this paper is to establish an effective profitability evaluation system,so the listed companies mainly selling electricity can evaluate their own profitability and then clarify their profitability an industry status and to find the key factors influencing the profitability of listed companies mainly selling electricity in different business models,so that the listed companies can enhance their profitability in precise direction.The innovation of the paper is reflected in two aspects: First,the paper puts forward the comprehensive profitability index,which considers profit risk,profit cost and profit growth,and establishes an effective profitability evaluation system.Secondly,the paper analyzes the factors influencing the profitability of the listed companies in different business models,and makes the key influencing factors be of more practical significance.