Study On The Determinants Of The Textile And Apparel Enterprises' Growth

The research on determinants of enterprises'growth is always the hot issues on theory and practice. Textile and apparel industry is not only a traditional Chinese industry which is important to our country, but also an important industry of livelihood. Father more, people in our textile and apparel industry still have obvious advantages in international competition. So the growth of textile and apparel enterprises is not only in relation to our economic growth but also in relation to the improvement of people's living standard. And it is in relation to our country's international competitiveness too. In this paper, we researched on the growth determinants of our textile and apparel enterprises. We do empirical research with the data of CCER and annual report of listed companies. The purpose of this research is to find the growth determinants of Chinese textile and apparel enterprises through establishing a quantitative model, and then give some advice to our textile and apparel enterprises.This research mainly uses the standard and empirical research methods. We read the related literature at home and abroad. And we studied the situation of our textile and apparel enterprises, and then we researched on the determinants of firm growth by establishing a quantitative model.This thesis consists of five parts: the first part of this paper introduced the background, significance, the content of the paper and the method we used. The second part of the paper is related literature at home and abroad. We reviewed the relevant literature. The third part is the theoretical study of determinants of firm growth. Through the research on relevant literature and the investigation of the development of our textile and apparel enterprises, we can get the growth determinants of our textile and apparel enterprises. The fourth part is the part of empirical research. At first, we evaluate the growth of our textile and apparel enterprises by using the indicator of main business income. And then, use the correlation analysis method to research on the relation of main business income and other economic indicators, such as profitability, operating capacity, debt rate, firm size, capital structure, market conditions and other aspects of the relevant indicators. Then selected 17 of the indicators, analyzed the indicators by factor analysis and extracted four common factors. We can get four factors, namely: the size factor, profit factors, debt factors, operating factors. Finally, research on the growth of our textile and apparel enterprises by stepwise regression, and give initial diagnosis. The fifth part of the paper is the part of conclusions. We draw the conclusions on the data of China's textile and apparel enterprises. And give advices on accelerating the growth of our textile and apparel enterprises. We pointed out the inadequacies of this thesis, and give the prospect of future research in this field.