The Growth Potential Research Of Emerging Industrial Enterprise Under Government Leadership Strategies

October2010,the State Council issued “Regulations on accelerating thedevelopment of new industries and the strategic decision”,demonstrate the guidingideology,basic principles to the development goals.2011is the first year of the"Twelve-Five" plan,the Government recently introduced the development plan of thestrategic industries,a range of policies and regulations expressly stated that the newenergy,energy saving and environmental protection and new energy vehicles,newmaterials,biotechnology,equipment manufacturing,a new generation of high-endinformation technology are the seven strategic areas for our country’s new emergingindustry,which can be obtained in a number of industries the country focused onfostering.The investment which strategic new industries attracted is gradually growing,and the stimulating effect on the economy is in an orderly release,which also meansduring “Twelve-Five” period, China’s investment focus and policy support center willno doubt focus on the above-mentioned seven strategic layout in emerging industries.The strategic emerging industry usually has the broad prospects fordevelopment,and has the strategic sense of industrial domain to the national economydevelopment,but its market insufficiently is also mature,the market main body is alsosmall and weak,it needs to pass through the industrial policy support and thepromotion,only then has the possibility to grow into the national economy precursorand the prop industry.This article selected strategic emerging industry to be listed ofthe2008-2010year to take as the sample,first the research institute the samplecompany’s government subsidy, the tax policy, and governments obtain of thestockholder’s rights structure,in order to understand approximately how the presentgovernment leads the pattern of the situation.Then took subsidizes of the government,the tax policy, the stockholder’s rights structure and so on to the examination asexpanding overlapping influence factor of follow strategic emerging industryenterprise,the enterprise’s Tobin Q as the potential growth of these enterprises.Thispattern leads this article as the real diagnosis part,has mainly discussed two aspectcontents,first is which factor the governments lead the way to affect the enterprisegrowth potential of strategic emerging industrial,second is the above factor thegovernment leads whether is being connected with the strategic emerging industrialenterprise growth potential.After theoretical and empirical analysis study which concludes strategicemerging industry growth driver of tax,finance,government control showed significant positive correlation with TobinQ which indices the potential growth ofstrategic emerging industries.Government subsidies and tax breaks as two of theGovernment-led path has positive effect on potential growth,that means enterprise’sprofitability is more strong, the growth is better if there are more governmentsubsidies and tax breaks;on the contrary, government control has negtive effect onpotential growth,that means the more sharehold the government domains,the worse ofthe enterprise’s profitability nor the potential growth.