Dissertation > Excellent graduate degree dissertation topics show

The Influence Factors of China’s Pharmaceutical Industry Listed Company Performance Research

Author: LiuJun
Tutor: WangWeiGuo
School: Dongbei University of Finance
Course: Quantitative Economics
Keywords: corporate performance influence factors endophytism instrumental variable method
CLC: F272
Type: Master's thesis
Year: 2013
Downloads: 9
Quote: 0
Read: Download Dissertation

Abstract


The pharmaceutical industry is an important industry of national economy and people’s livelihood, and is concerned by the majority of consumers; It is a best investment choice which has the reputation of "never fading sunrise industry", so the broad masses of investors pay close attention to the status of the its development; It is also the key planning industry in the "twelfth five-year" plan, concerned by the government. It seems that the development of the pharmaceutical industry has become the focus of the whole society. Because of pharmaceutical listed companies including the key players of the pharmaceutical industry, the listed companies can reflect the main development of the pharmaceutical industry. Therefore, the listed companies’performances of pharmaceutical industry are the focus to people from all walks of life. To improve the performance of listed companies, it must be clear that what kind of factors is the main reason of its development and in which way do the factors affect the performance. Therefore, the research on the influence factors of the corporate performance of listed companies in pharmaceutical industry is significant.In theory, the influence factors of corporate performance include internal factors and external factors. In the current researches, it has much study on the internal factors of the listed company’s performance, but the researches on the impact of external factors on corporate performance are rare. Therefore, this paper attempts to comprehensively research the internal factors and external factors which influence the performance of listed company in the pharmaceutical industry of our country.First of all, based on the related theory and the characteristics of the pharmaceutical industry in our country, this paper analyze both internal and external factors affecting the performance of listed companies in China and its influence path, and put forward relevant assumptions; Secondly, with179pharmaceutical industry listed companies in two trading markets of Shanghai and Shenzhen as samples, and with tobin Q, return on total assets, return on equity as a corporate performance indicators, this paper set up an unbalanced panel model in2003-2012, and obtain the regression results by ordinary least squares regression; Thirdly, the article discusses the endogeneity of the ownership structure variables and executive equity incentive mechanism, then select tool variables, and inspect the endogenous variables by means of comparison and analysis, it is concluded that executives equity incentive variables is endogenous; Finally, this paper regress by instrumental variable method, and interpret the economic meaning of the regression results, and conclude the influence direction and degree of influence of various factors.Through the research, this article concluded that the important influence factors of the performance of China’s pharmaceutical industry listed companies include equity balance degree, the board size, the condition of centralized management, incentive levels, financial leverage, per capita income level, social insurance level, the degree of ageing, medicine and medical equipment import and export company level, growth, the company size, company risk, the first industry, etc., different influence factors impact corporate performance in different ways and different directions.Compared with the previous studies, this paper mainly has the following innovation in the research perspective:1. Most previous research of the factors of performance of the company influence consist them as exogenous variables, systematic research on the influence factors of corporate performance from the perspective of endogenous literature is less, which may lead to research conclusions existing bias errors. This paper tries to consider the influence factors of corporate performance based on endogenous theory to improve the accuracy of estimates and reduce the bias research conclusion. Naturally perspective, this paper also consider the financial performance and market performance factors that influence the performance and get some new conclusions compared with previous studies, it is the further research on the existing.2. Previous research mainly study on the the relationship between corporate performance and the external factors, but there are few research on the external factors which influence corporate performance. This paper bring in industry factors and external factors, comprehensively considering internal factors, finding that the influence of external factors and industry factors on the performance of the company.

Related Dissertations

  1. Research on the Regional Difference and Influence Factors of China’s Carbon Emissions,X502
  2. Research on the Impact of Debt Financing Structure Upon Corporate Performance on Listed Pharmaceutical Company,F275
  3. Spatial Analysis and Pollution Evaluation about Water Environment Actuality of Rural Surface Water in Typical Regions of Jiangsu Province,S271
  4. The Factors of Knowledge Sharing to Learners in Virtual Learning Community,G434
  5. Study on the Fertility Concept of Rural Married Women Borned after 1980,C924.21
  6. State-owned and Family-owned Listed Company Governance Structure and Company Performance Correlation Comparison Research,F272;F224
  7. Study on Spalling Mechanism and Application of Coal Wall with Large Mining Height,TD355
  8. Survey and Study on Subjective Well-being and Occupation Stress for the Clinicians in Third-level Grad a Hospitals of Urumqi City,R195
  9. Influence Factors and Countermeasure Research on Students’ Join the Basketball Activities in Junior Middle School of Binzhou,G633.96
  10. The Influence Factors and the Countermeasures for Carrying Out Shuttlecock in Jinzhong Primary School,G849.9
  11. The Chongqing regional economic development differences evolved with the economic development of Chongqing,F127
  12. The Development Present Condition of College Extracurricular Bodybuilding Clubs Investigate and Research in Chang Chun,G807.4
  13. Empirical studies of short-term financing bonds of listed companies financial risk factors for,F832.51;F224
  14. Diagnostic Research on Failure Cost Source of Processing Garment Enterprises,TS941.8
  15. Dynamic capabilities , brand building and business performance,F426.8
  16. Research on the International Competitiveness of China’s Cultural Trade and Its Influence Factors,F224;G125
  17. PE teachers Qinghai health status and interventions,G807.4
  18. Research on Factors of the Differences of Service Industry’s Concentration Degree in Jiangsu Province,F224
  19. Substantial Evidence Research on the Employee Satisfaction Degree in Nanjing Hotel,F272.92
  20. Research on Energy Efficiency and Its Influence Factors of Jiangsu Province,F127;F224
  21. The Research on the Relationship between Intellectual Capital and Business Performance,F224

CLC: > Economic > Economic planning and management > Enterprise economy > Enterprise planning and management decision - making
© 2012 www.DissertationTopic.Net  Mobile