The Study For Sustainable Growth Of Listed Companies In XinJiang Based On The Financial Perspectives

With the depletion of resources,population growth and the degradation of environment,people have paid more and more attentions to the sustainable development of society and ecology. "Sustainable development" has become the consensus of the people. For enterprises,being cells of society and the principal part of the socio-economic activities,sustainable development of them is closely related to that of the economy,society and ecological systems: sustained ecological is the base,sustained economy is the condition,sustainable enterprises are impetus,sustainable society is the goal. For listed companies,they should pay attention to the develop tendency in a long time and the ability of value growth,the company focus on how to achieve sustainable development,rather than focus only on the immediate interests.However,almost all the enterprises are eager growth,seeing from the domestic situation,many listed companies have regarded the growth of the companies as the primary problem in their strategic management,but they ignore the sustainability of growth, resulting in over-estimating their own sustainable growth capacity,rolling in the financial crisis when they are short of the matching support of internal resources while high-speed growth,therefore,high-speed growth is not always lucky. When all the conditions are fixed,sustainable growth always has a growth limit. The crux of the problem is that with the rapid growth of the production and sale,the companies have to face the constraints of financial resources,that is to say,the growth of production and sales will bring the need of capital growth. Once the enterprises in pursuit of maximum growth regardless of all the other things,their financing capacity often reach the limit,so that enterprises have a financial crisis,further impeding their growth,if they do not reorganize their financial resources at this time but continue to pursue the maximum growth,the result will endanger the survival of enterprises.Therefore,when a company is making plans of growth,it must take full account of the constraints of financial resources,must make balance between the growth in sales and in demand of financing,so that we can make sure the company will have a healthy development. The increase rate which ensue enterprises'balanced growth is sustainable growth rate. Only when the actual growth rate is consistent with sustainable growth rate,the financial resource is fully and reasonably used. Then,how to make up the sustainable growth rate of the companies? What measures should be taken to make sure the balanced growth when the actual growth rate is deviant form the sustainable growth rate? This paper carried out a detailed analysis and study. In this paper,I firstly introduced the research significance and the current situation of studies at home and abroad; next is the theoretical part of the article,while introducing the company sustainable growth model and the financial sustainable growth model,I had a further analysis and research to the problems in the sustainable growth of listed companies in Xinjiang; this paper calculate the sustainable growth rate through the sustainable growth model,make a empirical analysis based on the financial data of listed companies in Xinjiang,use the method of combining qualitative analysis and quantitative analysis,use average t-test and Wilcoxon signed tests with symbols,arrange the collected data and test whether listed companies in Xinjiang have sustainable growth. Use principal component analysis and multiple regression analysis to explain which financial ratios having are more influence to sustainable growth in financial ratios,it also can say that which rations are more relative to the rate of sustainable growth. At last according to the existing problems of listed companies in Xinjiang,I gave some corresponding policy recommendations.