Study On Influence Factors Of The Future Growth Value Of High-tech Enterprise

High-tech industry plays an increasingly important role in the national economy, and the development of High-tech enterprises gives great help to the development of economic. The existing researches are mainly to investigate the factors which affect the development of enterprises from the angle of current operating value. However, High-tech enterprises should pay attention to the trend of development for a long time in the future rather than short-time benefit. Therefore, this paper chooses the future growth value as the index to measure the growth of High-tech enterprises to research the main influence factors of the future growth value of High-tech enterprises.Firstly, this paper synthesizes the comprehensive scholars’study and combines the characteristics of High-tech enterprises using the method of literature review, and chooses seventeen factors which influence the future growth value of High-tech enterprises as the index of the following factor analysis.Secondly, this paper screens out six factors as the indicators of regression analysis and causal analysis from the seventeen factors using the method of factor analysis.Thirdly, this paper selects financial data of55information technology enterprise belonging to the high-tech enterprise from2007-2011as the research sample using the methods of empirical research, and uses SPSS17.0analysis tool to do regression analysis and causal analysis to analyze the relationship between R&D, enterprise scale, accounts receivable turnover ratio, total asset turnover, sales net interest rates and incorporeal capital of the six factors with the future growth value.Finally, the empirical analysis comes to the following conclusions:In the same period, there is a significant positive correlation between R&D, enterprise scale, accounts receivable turnover ratio, total asset turnover, net profit on sales and incorporeal capital of the six factors and the future growth value;In different periods, there is a significant causal relationship between R&D and incorporeal capital with the future growth value. However, there is no significant causal relationship between the scale of enterprises, accounts receivable turnover ratio, total asset turnover and net profit on sales of the four factors with the future growth value.