Empirical Research On The Influence Of Financial Strategy On Growth Of Coal Listed Companies

At present,China is in a strategic adjustment of economic structure,in order to give attention to both economic and environmental sustainable development,the state of the environment control investment increasing,present the weakness caused by coal energy economy,market demand is weak,coal prices plummeting,serious lack of money,a large number of coal enterprise sharp losses.Under this market background,coal enterprises should make a strategic plan suitable for the development of enterprises from the perspective of financial strategy according to the company's strategy and the actual situation of the enterprises.This paper adopts the method of literature analysis and summarizes the researches of domestic and foreign scholars on financial strategy and growth to provide a certain theoretical basis for this paper.This paper USES inductive analysis method to analyze the management status,financial status and the relationship between the financial strategy and growth of listed coal enterprises.This paper takes 27 listed companies in the coal industry from 2010 to 2018 as the research object,and USES the factor analysis method to select the financial strategy indicators and measure the growth of enterprises,so as to make the selected indicators more scientific and reasonable.The relationship between the financial strategy and the growth of listed companies in coal industry is studied and empirically analyzed by means of multiple linear regression analysis.This paper draws the following conclusions through empirical analysis:(1)from the perspective of the internal elements of financing strategy,the capitalization ratio and shareholder equity ratio have passed the significance test,and have a positive impact on the growth of listed companies in China's coal industry.(2)from the perspective of the factors influencing the investment strategy,the growth rates of fixed assets and sales expenses have passed the significance test,and have a positive impact on the growth of listed companies in the coal industry in China.(3)from the perspective of dividend distribution strategy,in a certain scope,the strategic ability of dividend distribution of coal enterprises is significantly positively correlated with the growth of enterprises;Beyond a certain range,there is a negative correlation between the two.It shows that the strategic ability of dividend distribution should be kept within a reasonable range.(4)from the perspective of capital operation strategy,the total asset turnover in the capital operation strategy of coal enterprises is significantly positively correlated with the growth of enterprises within a certain scope.Based on the results of empirical analysis,some Suggestions are put forward from the perspectives of financing strategy,investment strategy,dividend distribution strategy and capital operation strategy.Figure[5]table[17]reference[81]...