An Empirical Analysis of the Factors Affecting the Profitability of China’s Agricultural Listed Companies under the Background of Agricultural Modernization

The profitability of agricultural listed companies is an important aspect to measure the development level of agricultural modernization in China. Based on the relevant data of agricultural listed companies from 2011 to 2016, this paper empirically analyzes the relationship among the profitability of agricultural listed companies in China, the level of assets and liabilities, the degree of equity concentration , the level of primary business operation, tax subsidy intensity, income subsidy intensity and high-level agricultural modernization by using the method of multiple regression. Besides, high-level agricultural modernization listed company is the important trend of agricultural listed company development, which is also a focal point of this paper. The results show that the profitability of agricultural listed companies in China is negatively correlated with the level of assets and liabilities, and is positively correlated with the degree of equity concentration, the intensity of tax subsidies, and the high-level of agricultural modernization listed companies. However, the operating level of primary business and the intensity of income subsidy have no significant influence on the profitability of listed companies. According to the above conclusions, this paper puts forward the corresponding suggestions and countermeasures for the further improvement of the profitability of agricultural listed companies.