The Enterprise Financial Driving Research And Growth Potential In Strategic Emerging Industries

October 2010,the State Council issued "Regulations on accelerating the development of new industries and the strategic decision",demonstrate the guiding ideology,basic principles to the development goals.The strategic emerging industry usually has the broad prospects for development,and has the strategic sense of industrial domain to the national economy development,has the possibility to grow into the national economy precursor and the prop industry.It has seven areas including biology, high-end equipment manufacturing, new energy, new materials, new generation of information technology, energy environmental protection, new energy vehicles.These industries have significant and far-reaching impact on the economic and social development and national security. So for its growth and development can not be ignored, especially from within the company starting to study how to promote the continued growth of its own should be more focus.As defined financial drivers included with internal financial control environment, investment strategy, size and structure of financing, the paper based on the theory of the relationship between the three aspects and China’s strategic emerging company’s potential growth. This article selects 340 sample data of the strategic emerging listed companies from 2010 to 2012 at the end of the year,and analyzes empirically the relationship between financial drivers and corporate potential growth.According to previous research results and the status of financial drivers and corporate potential growth,this article proposes empirical assumptions and establishes the regression models.In terms of corporate potential growth evaluation system,this article selects 18 indicators to reflect comprehensively corporate potential growth,such as the company’s profitability, solvency, operational capability, capacity expansion, cash flow capabilities.This article analyzes the eighteen indicators by using Factor Analysis,and gets a comprehensive growth indicator reflecting the comprehensive growth of the strategic emerging listed companies.Lastly,this paper takes PRA、FINI、 FINSUP、RDR、INAR. DAR and SDR as explanatory variables,and take the comprehensive growth indicator as dependent variable,take Lnasset-. TOPI Lnbdsize、RID、SUPC、AUD and Dummy_year as control variables,and studies empirically the relationship between financial drivers and corporate growth,and analyzes the empirical results.After theoretical and empirical analysis,the results show that for the strategic emerging enterprises,at the aspect of financial governance environment,Chairman and General Manager of the two level-one,taking stock option incentives and voluntary disclosure of internal control audit reports have significantly positive impact on growth;At the aspect of investment strategy,the correlation between R&D and corporate Growth is significantly positive,but the correlation between the proportion of the company’s intangible assets and corporate growth is negative;At the aspect of financing,the correlation between asset-liability ratio and corporate growth is significantly negative,but the correlation between current liabilities ratio and corporate growth is positive.At last,according to the results of the empirical study,this paper makes some recommendations to optimize the capital financial drivers of the strategic emerging 1 listed companies to get better growth and development.