An Empirical Study On The Influencing Factors Of Financial Leasing In My Country's Automobile Manufacturing Industry

This paper is to solve the problem of influencing factors of automobile manufacturing industry of financial leasing is what factors in the theory of financial leasing leasing companies in the automotive manufacturing industry are applicable,based on the solution of the problem in order to guide the automobile manufacturing enterprises to expand financing channels for the purpose of financing lease.This paper first analyzes three theories of financial leasing,the first one is tax theory,the second one is debt substitution theory,the third one is agency cost and bankruptcy cost theory.By analyzing the theory of financial leasing,five factors that affect corporate finance leasing are obtained,namely,the actual income tax rate,the corrected long-term debt ratio,profitability,growth opportunities and company size.The five factors are hypothesized according to the theory of financing lease,which is positively related to corporate finance leasing,growth opportunity and enterprise scale,and negatively related to corporate finance lease,which are real income tax rate,corrected long-term debt ratio and profitability.The empirical part of the sample selected is the corresponding financial data of2010-2016 years in China A shares listed automobile manufacturing enterprises,the first T test was performed on samples by using statistical method,then using generalized linear Logistic regression analysis of the data,and then draws the conclusion related to the listed enterprises financing lease relationship is the modified long term liabilities the rate and scale of the enterprise,is negatively related to the profitability and growth opportunities,no significant relationship between the actual income tax rate.The theoretical hypothesis and the empirical analysis are different from the three factors.This paper analyzes the reasons for the difference in the business situation,the theoretical premise and the national policy.The above results can be divided into two parts on the impact of China’s automobile manufacturing industry of financial leasing,is a theory and reality--the theory of financial leasing is not in all industries are applicable,specific to the automotive industry,there should be a consideration in reality,such as business and national policy;two the automobile manufacturing industry should actively explorefinancing channels to enhance the degree of development of the financial leasing itself should increase investment in research and development,and actively develop new energy automotive business sector,follow the national policy,a good grasp of the future direction of development,control of the industry development trend.At the same time,this paper still needs further improvement in research.One is to increase the influence factors such as financial data,and the two is to analyze and demonstrate the degree of influence of all factors.