关键词: 竞争战略, 综合财务绩效, 因子分析, 灰色关联分析

Abstract: The research on the relationship between competition strategy and financial performance has always been an important research topic of enterprise management, and the change of environment will affect the relationship. The listed oil companies in China were selected as research samples to study the relationship between the competitive strategy chosen by Chinese oil companies and the comprehensive financial performance of enterprises before and after the "the Belt and Road" strategy. Firstly, the factor score of enterprise competition strategy is calculated by confirmatory factor analysis, then the comprehensive financial performance of enterprise is calculated by grey relational system analysis method, and finally the regression model of competition strategy and financial performance is established. The empirical results show that the competition strategy has a significant impact on the financial performance of enterprises. Before the "the Belt and Road" strategy was put forward, China's oil enterprises mainly focused on low⁃cost strategy, and in the late stage, in order to adapt to the implementation of the "the Belt and Road" policy, China's oil enterprises gradually changed from a single low⁃cost strategy to the use of low⁃cost and differentiation strategy of mixed strategy.

Key words: Competitive strategy, Financial performance, Factor analysis, Grey relational analysis