An Empirical Study Of Relationship Between High Technology Enterprise Growth And The Financial Crisis

In recent decades years, due to the high speed of rising in GDP,our country has paid attention to the new technology industry.In the next decades years, our country will keep new technology industry as the core competitiveness of our country. Although the rapid growth of the new and high technology has led to a lot of profit, it's worth for us paying attention to the phenomenon that a lot of high and new technology enterprises bankrupted in less than a year. High speed of growth will make the financial resources of high and new technology enterprise be tension, if a high and new technology enterprise doesn't have good financial resources and appropriate financial strategy, though the other aspect is perfect, this state of tension will also lead to the financial crisis.Under such severe situation, however, a lot of high technology industry managers still insist on the error idea, they think that the enterprise's rapid growth will bring more profit for the company, without knowing that the rapid growth of the enterprise make the enterprise's resources can not keep up with the pace of this rapid growth, enterprise has gone into a financial crisis step by step. So we are here to study the relationship between the speed of enterprise's growth and the financial crisis, hoping that we can be able to deal with the growth of enterprise and set reasonable development strategy to make the enterprise more healthy in development.In this paper, we firstly introduced the basis research result and relevant theories in domestic and our country. We defined the first loss without accidental situation as the symbol of a financial crisis, through collecting data we use logistic regression method to establish the financial crisis warning model, and then calculate the probability of enterprise's financial crisis. Related to the relevant theory we can calculate the real speed of enterprise's growth. Then the samples are divided into three groups, the first group including all of the samples, the second group only including the overspeed samples, the third group only including the samples without overspeed. Using the growth speed and the probability of financial crisis of the three groups of samples,we use the logistic regression model to analysis the relationship between the two ones. We come to three conclusions:1, enterprise with overspeed growth will have the bigger probability in financial crisis than the enterprise without overspeed growth.2, For the overspeed growth situation, the enterprise with faster speed will have the bigger probability in the financial crisis, but the influence is limited.3, For the enterprise without overspeed growth,the probability in financial crisis has no relation with the growth speed of the enterprise. After proving our assumptions, we can know that the fast growth rate can cause enterprise's resources become to intense. Only if the manager realizes this result and finally takes the positive measure to control the growth rate, otherwise the fast growth rate will disadvantage the enterprise.So the enterprise manager must coordinate the relationship between the enterprise resources and enterprise growth, realize the danger of pursuing the growth speed of the enterprise blindly. Only if make the reasonable development strategy for the enterprise, can the enterprise grow with sustainable path of speed.