Coal Listed Companies Sustainable Growth Study

In the backdrop of economic globalization, energy issues affect the global economy becoming more prominent. At present, Chinese is shortage of oil and gas resources, the coal industry is still the backbone of the national energy strategy, which 76 % of fuel for electricity, 70 % of steel energy, 80 % of civilian fuels and 60 % of chemical fuel are from coal. Experts predict that the coal' s irreplaceable status will not be changed in the next 50 years. How to do a good job in the coal industry ? How to make a healthy and sustainable growth industry is an urgent thing to do. The sustainable growth rate theory is put forward by foreign financial expert at first. I apply it to our financial management of listed company in this paper. Using sustainable growth rate as the standard of development speed . And compare it with company actual growth rate, managers can judge company stage and contingent financial question soon, and then offer the proper financial tactics for continuing development of company. I attempt to offer some unripe suggestions for improvement of the financial management of listed company in China.This paper includes four parts:ChapterⅠI mainly explain the importance of the study on sustainable growth and have summarized the research result of the mailand and overseas scholars' . Based on the theory of predecessor' s , I make research shortcoming to clear and introduce the framework and method of this paper.ChapterⅡI first to introduce the theory of sustainable growth and its impact on sustainable growth factors. Then I have define the concept of sustainable growth and leads to introduce two sustainable growth models brought forward by Robert Higgins and James Van Herne and using simple data on the comparison of their thinking of models. The final I have summed up the internal and external factors and the three styles by which the enterprises grow and the cause of the sustainable growth.ChapterⅢI listed the main role of this paper—-coal companies. I introduce and analyze the financial tactics and operating strategy. Then use of sustainable growth model for such coal sample of listed companies, the financial model will be applied to samples. The results of empirical research, the coal enterprises' sustainable growth rate is higher than the actual growth rate and analysis of this study Results.ChapterⅣThis part mainly discuss on the management suggestions. Sustainable growth for enterprise development has provided a reference standard, but in reality, the actual growth rate is always inconsistent with the sustainable growth rate, then take what kind of financial strategy for the sustainable growth of enterprise and keep the balance growth will become very important. Final of this chapter I will try to give some strategic suggestions.