农业上市公司资本创值路径影响因子分析

本文选取51家农业上市公司为研究样本，运用EVA指标评价农业上市公司资本经营绩效。1995，2006年的EVA价值评估结果表明，农业上市公司资本创值水平和经营绩效低下。进一步的因子分析表明，农业上市公司资本创值水平与农业上市公司的盈利能力、资本成本、资产管理效率、企业成长能力以及偿债能力等因子密切相关。因此，改善上述影响因子是提升农业上市公司资本创值能力的合理选择。

Study on Value Added Factors of Listed Agricultural Companies in China

This paper selected proper listed agricultural companies as samples, analyzed the financial data in their annual reports, and calculated EVA in these companies from 1995-2006. The assessment results of EVA showed that the value creation capacity of listed agricultural companies in China was comparatively lower, and so as the through performance. The capital making capacity reflected the development of listed agricultural companies, objectively observeed its performance, analyses in depth the real factors of the performance, and looked for strategies to enhance capital making capacity, which were of great theoretical and practical significance. The factor analyses showed that the key factors that deciding the capital making capacity were the profit-making abilities, capital costs and development characteristics. Such improved factors were the best choice to enhance capital making capacity of listed agricultural companies in China.