The Empirical Study On The Impact Of Non-financial Factors On The Growth Of Listed Companies In Steel Industry

Steel industry is an important basic industry of the national economy,who plays an important role in economic and social development.At present,the development of our steel industry has been affected by factors such as the slowdown in economic growth,structural changes in the industry and other factors.The transformation and upgrading of the steel industry and deep-seated structural adjustment is very important.The growth,which is a quite important indicator to test the operating conditions and development prospects of the enterprises,is the soul of the enterprises.A great many factors affect the growth of dairy enterprises,including financial factors and non-financial factors.At present,most scholars have studied the growth factors from the financial factors,but the impact of non-financial factors on the growth of enterprises cannot be underestimated.Therefore,the article is based on non-financial perspective.By using the method of the literature review,quantitative and qualitative combination and factor analysis,the article forms a relatively complete research system.Firstly,it reviews the relevant literature,and defines the enterprise’ growth.Then,the article selects11 non-financial factors from the four broad categories of national policy,human resources,independent innovation and corporate governance.Finally,the article uses factor analysis method to extract the main ingredients as the substitutions of original index system,and calculating composite scores and ranking for sample enterprises.The empirical results show that: the excellent and fine growth quality of Chinese steel enterprises are only a small proportion,the growth of most enterprises are general or poor performance,the overall level of growth is not high,and their growth has the obvious difference.The growth of steel enterprise is mainly reflected in three aspects,national policy,human resources,the ability of independent innovation,the three aspects are all quite significant.Finally,in order to make our steel industry healthy and benign development,the article puts forward the corresponding suggestion about the future growth of steel industry.