【摘要】：企業(yè)增長(zhǎng)的關(guān)鍵是實(shí)現(xiàn)銷售增長(zhǎng)與企業(yè)資源的相互匹配,因此,可持續(xù)增長(zhǎng)思想的確立對(duì)企業(yè)戰(zhàn)略目標(biāo)實(shí)現(xiàn)至關(guān)重要。文章利用上市公司2009-2012年的相關(guān)數(shù)據(jù)研究融資約束與企業(yè)可持續(xù)增長(zhǎng)之間的關(guān)系。主要關(guān)注兩個(gè)方面:一是上市公司是否存在著明顯的融資約束現(xiàn)象;二是融資約束是否對(duì)企業(yè)可持續(xù)增長(zhǎng)有影響。通過(guò)實(shí)證研究,結(jié)合理論分析發(fā)現(xiàn),上市公司存在明顯的融資約束現(xiàn)象,其中盈利能力、公司規(guī)模、發(fā)展能力與可持續(xù)增長(zhǎng)呈正相關(guān),債務(wù)狀況、國(guó)有化程度與可持續(xù)增長(zhǎng)呈負(fù)相關(guān),并且在此基礎(chǔ)上,提出相關(guān)建議及對(duì)策。
[Abstract]:The key to enterprise growth is to match sales growth with enterprise resources. Therefore, the establishment of the idea of sustainable growth is of great importance to the realization of the strategic objectives of enterprises. This paper studies the relationship between financing constraints and sustainable growth of firms using relevant data of listed companies from 2009 to 2012. This paper focuses on two aspects: one is whether the listed companies have obvious financing constraints, the other is whether the financing constraints have an impact on the sustainable growth of enterprises. Through empirical research, combined with theoretical analysis, it is found that listed companies have obvious financing constraints, in which profitability, company size, development ability and sustainable growth are positively correlated. The degree of nationalization is negatively related to sustainable growth, and on this basis, some suggestions and countermeasures are put forward.
【作者單位】： 山西財(cái)經(jīng)大學(xué)會(huì)計(jì)學(xué)院;
【基金】：山西省軟科學(xué)項(xiàng)目“山西煤炭企業(yè)負(fù)債融資的財(cái)務(wù)治理效應(yīng)研究”(2012041012-04)
【分類號(hào)】：F272;F832.4

【參考文獻(xiàn)】

相關(guān)期刊論文 前9條

1 唐建新;陳冬;;金融發(fā)展與融資約束——來(lái)自中小企業(yè)板的證據(jù)[J];財(cái)貿(mào)經(jīng)濟(jì);2009年05期

2 王家庭;趙亮;;我國(guó)上市公司的融資約束及其影響因素的實(shí)證分析[J];產(chǎn)業(yè)經(jīng)濟(jì)研究;2010年03期

3 羅琦;肖文，

本文編號(hào)：2299519