Study On The Relationship Between The Financial Policy And The Growth Of State Holding Listed Company

Financial policy is a business tool to regulate financial activities, it is related tobusiness activity, in real life, it has beeningmore and more important, the definition ofcontent, evaluation system to the financial policy and corporate ownership structurehave become the hotspot of theory research. So far, there are many research about thetheory of enterprise financial policy, However, in all of the enterprise, state-ownedenterprise is a special kind of enterprise, the nature of the owner is one ofitsparticularity, beyond that, businesses scale and the degrees of monopoly are also itsparticularity. now, internal control and financial management is the key point of studythat about thestate-owned enterprise. We should also keep an eyes on the financialpolicy and the influence that bring by it, the research is will not only update the existingtheory, but also give people more advises.After2008, the financial crisis continued to simmer, state-owned enterprises have todeal with overcapacity and dilemma of debt as soon as possible so that they can get ridof the crisis.Where is the rode of reform? There are two directes.One is to provideservices that related to peresidents closely,Another is to relish the national strategicgoals.Given the analysis and consider the transparency of enterprise information, thistext selects the listed company as the representative enterprises of state-ownedenterprises to analysis the relationship between financial policy and its growth. Amongof the companies, this article choose China aluminium co., LTD.as the case.The reason of choice is shown below:Firstly, the development model of thetraditional manufacturing have four steps. When company is in different step,thegrowthpolicy is also different,We can learn the growth of each step. Secondly, thetransformation of financial policy and financing tools from2008to2011will providegood material forresearch. Thirdly, the company spends8years tobecame the leadingenterprise,the eight years of growth will be good for research. On the other hand,thecompany can notalways keep the speed of development. The company can give us manythings that used for studyThis article selects financial statement data between2005and2011to analyse its financepolicy. My conclusion is: Firstly, when company is in the second step ofTheory ofCorporate, merger and reorganization is conducive to the development of state holdinglisted companies. Secondly, the efficiency of using ofbond of the state holding listed companies is higher than general enterprise. Thirdly, the nature of the owner of stateholding listed companies will hinder the growth of the enterprise.In view of the state holding listed companies and put forward suggestions on thefollowing three aspects:Firstly, we shall improve the ability of getting equity capitalSecondly,we shall break the growth ceiling of the third step.Thirdly, we shall reduce theinfluence of the nature of the state-owned corporation.