A Study Of Listed Companies' Performance And Its Influencing Factors Of NEEQ

Since the national equities exchange and quotations(NEEQ for short)began to expand,the market developed very fast,the number of listed companies in 2016 has increased by nearly 30 times more than in 2013.The fast rise in number would bring difficulties to its supervision,and the quality of NEEQ's enterprises is uneven,leading to poor liquidity in the market.NEEQ,as an important component of capital market in our country,plays an important role in the development of our economy.Studying on enterprises' performance and its influencing factors is helpful to improve the quality of listed companies and reduce the risk of investors,thus will improve investors' enthusiasm and market liquidity.Then the capital market system will be improved and the economy growth will be promoted.At the same time,studying on the enterprises' performance and its influencing factors can help enterprises that wish to list on NEEQ calm down and avoid unnecessary losses.According to these purposes,we studied the listed companies' performance and its influencing factors.First,we introduced the current situation of NEEQ in China and its importance.Second,we collected financial data of 1513 listed companies during 2013-2015 and used factor analysis to analyze the current situation of listed companies' performance.There is a great difference between listed companies' performance,some companies are outstanding,while some enterprises' performance is poor,facing the danger of delisting.Among them,about half of the enterprises' performance is increased year by year.And the enterprises' performance is not increased significantly after listing.Third,we collected data from the 1513 listed companies' annual report,and used regression analysis to find out the factors that affect listed companies' performance of NEEQ.The result shows that factors that affect enterprises' performance are enterprises' scale,research and development,capital structure and economic development.Finally,we give some recommendations to improve the development of NEEQ.