Journal of Northern Agriculture ›› 2022, Vol. 50 ›› Issue (3): 111-126.doi: 10.12190/j.issn.2096-1197.2022.03.15

• Agriculture economics • Previous Articles     Next Articles

Research on GEVA value evaluation of agricultural listed companies from the perspective of high-quality green development

LIU Xuewen1, TAN Xuexiang1, NIE Fengyun2   

  1. 1. College of Economics and Management,Yantai University,Yantai 264005,China;
    2. Yantai Muping District Branch,The People′s Bank of China,Yantai 264199,China
  • Received:2022-04-07 Online:2022-06-20 Published:2022-08-09

Abstract: 【Objective】To evaluate the GEVA value of Chinese agricultural listed companies from the perspective of high-quality green development and promote the high-quality green development of agricultural listed companies.【Methods】Build the GEVA valuation model of agricultural listed companies,calculate the actual ecological efficiency,and adjust the GEVA according to the difference between the actual ecological efficiency and the expected ecological efficiency,to assess the value of high-quality green development of the companies. 【Results】The actual ecological efficiency of agricultural listed companies in China was generally high,with and average value of 167.05%,higher than the expected ecological efficiency,and roughly showing an increasing trend year by year. In general,the value of high-quality green development of agricultural listed companies in China was low. Except for 2018,companies with GEVA greater than 0 accounted for 70.45% the proportion,in other years it was less than 50.00%. The agricultural listed companies in China had diverse GEVA values,and there was a clear performance gap between them. The extreme value of GEVA had a changing tendency of “shrinking first and then growing”. Except the GEVA value in animal husbandry and average unit GEVA value exceeds the average value of the overall samples,other industries fall short of the average value,and the difference is considerable. The GEVA value for agricultural listed enterprises in China fluctuates greatly and the average value exhibits an M-shaped changing trend,peaking in 2019 at 953 million yuan. In 2020,the average value of GEVA plunged sharply to 102 million yuan.【Conclusion】Chinese agricultural listed companies had high levels of actual ecological efficiency overall,but the value of high-quality green development is generally low with the industry clearly differentiated and exhibited high volatility. Based on this,Chinese agricultural listed companies should implement the “GEVA maximization” management concept,improve the innovation ability of green technology,establish a long-term mechanism for coordinated development,and strengthen the capacity to withstand risks in order to achieve high-quality green development.

Key words: High-quality green development, Agricultural listed company, GEVA, Value assessment

CLC Number: 

  • F323