The Empirical Study About The Effect Of Leverage On Growth Of Listed Companies

Company managers, investors, these stakeholders are very concerned about the company's growth, but growth also reflects the company's future value. Pursuit of all enterprises is one of the objectives of growth, so growth has increasingly won the theoretical circles. Growth should be reflected in the company's operating performance, as well as higher future development of a strong trend in many areas, is an integrated feature of. Standing on a financial point of view, a reasonable capital structure, the company has expanded each year and the scale of strong market competitiveness and cost control properly, the operating results of the steady rise is a growing company should have the characteristics.In this paper, drawing on domestic and foreign scholars in the growth of the company based on the results of research to the status of listed companies as a starting point, select this particular China's manufacturing industry, in order to yield the net assets and earnings per share as the operating results of listed companies into the standards,using factor analysis from the main business revenue growth, the growth rate of total assets, net profit growth rate in earnings per share growth rate of extraction of the two factors reflected the four variables, so as to arrive at a comprehensive score growth (GROWTH) be interpreted as variable rate assets and liabilities to the representative of the capital structure as a core explanatory variable,and select the size, during the cost rate, margin and collateral value of assets as four control variables, establish multiple linear regression model, an Empirical study on the mixture of 2005-2007 samples. Theoretical analysis and empirical research combining the use of data analysis in this article confirm the results of operations in different listed companies in the manufacturing industry in China under the capital structure of the industry on the impact of growth is different.