An Empirical Study On The Factors Influencing Of Financial Leasing Behavior Of Listed Companies In China

Manufacturing industry is the backbone of our economy,which plays a fundamental role in the development of national economy.In the current economic downturn,overcapacity,inadequate domestic consumption and inadequate export abroad,the development of manufacturing industry in China is worrying.The lack of industry funds,the lack of core competitiveness,equipment and production mode,industry urgently needs the transformation and upgrading.Therefore,how to promote the healthy development of manufacturing industry is an urgent problem discussed in government departments.As a modern financing mode,financial leasing has unique function and advantages,not only solving the problem of insufficient funds of manufacturing industry,but also can it bring advanced technology equipment,thus promote the rapid development of macro-economy in China through more efficient production operation.Therefore,in order to promote the financial leasing in manufacturing enterprises in China,it is necessary to understand the factors influencing of corporate financial leasing decision-making.This paper mainly studies the cross-section data of manufacturing companies in Shanghai Stock Exchange in 2015,focusing on empirical research,supplemented by theoretical research.Based on the foreign theory and the current situation of China,this paper puts forward some factors on the financial leasing decision of manufacturing enterprises,assume that the enterprise size,long-term debt ratio,operation capacity,management compensation incentive,development ability,management rights,solvency,profitability,age and nature of the enterprise affect the financial leasing decision.Through the use of t test to observe whether these variables have significant impact on corporate financial leasing decision behavior,and then observe if the existence of independent variables,and then establish the logistic regression equation,the results show that the financial leasing has significant positive correlation with the enterprise scale,long-term debt ratio of asset and the age of management;There is no significant correlation between profitability,development capacity,management rights and executive compensation incentives.Finally,some policy suggestions are put forward,such as the penetration of financial leasing in private enterprises,the construction of talent training and knowledge system and the improvement of secondary market,so as to better promote the integration of manufacturing enterprises and the transformation from”manufacturing power" to " manufacturing power ".