基于演化的农业上市公司绩效特征分析

An Analysis of Agricultural Listed Companies' Performance Characteristics Based on Evolutionary Economics

从演化经济学视角,根据相同行为特征必将带来相同绩效表现的推断,对中国农业上市公司2008～2010年3期年报数据进行实证分析和思辨探索,通过因子分析得出农业上市公司绩效由运营、盈利、偿债、现金流和发展五个方面构成的结论,通过聚类分析找到农业企业中"惯例",且运营指标已经成为少数公司正在进行"搜寻"行为的证据,最后采用回归分析部分验证了演化经济学中企业资本量只与经营绩效正向相关的理论。

From the angle of evolutionary economics,and based on the deduction that the same behavior characteristics will produce the same performance,the authors make an empirical analysis and discussion on the data of three annual reports of China＇s agricultural listed companies from 2008 to 2010.Factor analysis shows that the performance of agricultural listed companies is made up of five aspects,including operation,profitability,debt clearance,cash flow and development.Cluster analysis is used to find the ＂routines＂ in agricultural companies,and the operation indicators have become the evidence of ＂search＂ behaviors in some companies.Finally,regression analysis is used to partially test the theory of evolutionary economics that the capital stock of a company is positively correlated only with operation performance.