Empirical Study On Fixed Assets Investment Scale Influence Factors Of The Listed Companies Of Household Electrical Appliance

Under the background of new normal and new cycle of China's economic development,China's manufacturing industry itself faces challenges."Made in China"needs to go step by step towards "China intelligence" and "China creation",adjust product structure and increase the value-added of products,and one of the important industries and representative industries in China made is home appliance.Industry.One end of the household appliance industry connects "consumption upgrading" and"intelligent manufacturing" at one end.It plays an important role in China's industrial upgrading,industrial structure adjustment and development.The United States has carried out a series of preferential policies,such as tax relief,to reduce manufacturing costs,spare no effort to attract transnational corporations and investment in the US manufacturing industry,to maximize the advantages of American manufacturing,and China's manufacturing faces "internal and external suffering".For a long time,it is very necessary to pay attention to the "made in China" in the period of transformation,to pay attention to the investment in the fixed assets of the household appliance industry as a representative industry,to analyze and analyze its influence factors deeply and empirically.The influence factors of fixed assets investment,especially the influence factors of fixed assets investment in manufacturing industry,are the issues of great concern in both academic and business circles.However,most literatures on the influencing factors of fixed assets investment are concerned about the whole industry of the listed companies or the whole industry of the manufacturing industry,but there is a lack of research on the home appliances listed companies.China's home appliance manufacturing occupies half of the total supply of the world's household electrical appliances,focusing on the research of household appliances industry level,helps to clarify the important factors behind the appliance industry's fixed assets investment,and has certain practical significance for industrial development and policy promotion.Based on the data disclosed by listed companies,this paper quantitatively analyzes the factors that exist in fixed assets investment through empirical research.It mainly discusses the impact of liabilities,past investment scale,main business growth and sales revenue on fixed assets investment.Empirical research shows that long-term liabilities and main business growth have significant negative correlation to fixed assets investment,and short-term liabilities has significant positive impact on investment scale.At the policy level,the management of the debt and cash flow of the household electrical appliance industry should be strengthened.The innovation of this paper is that the segmentation industry level is studied,the data are new,and the validation of the empirical model is closer to the industry profile.