Research On The Influence Of Financial Flexibility On The Growth Of Hikvision

Adequate financial resources are the basic guarantee to maintain the daily operation of the enterprise,and the continuous growth.How to rationally allocate resources and improve the growth of enterprises has become a research hotspot.The economic recession because of the COVID-19 pandemic and the inherent scarcity of financial resources have restricted the growth of Chinese enterprises.How to improve the growth of enterprises in a complex and changeable environment has become the focus of enterprise managers.Financial flexibility has flexibility and active adaptability,which can not only help enterprises to obtain cash resources in time,but also quickly obtain financing from the outside world.Therefore,the use of financial flexibility to improve the growth of enterprises,which is widely valued by enterprises.This paper regards Hikvision as the research object,aims to improve the growth of the enterprise,and on the basis of flexibility theory,principal-agency theory,optimal order financing theory and sustainable development theory,the relationship between financial flexibility and growth is studied.Analyze the current situation of the financial flexibility of Hikvision,and evaluate its growth.Taking 68 enterprises in the information technology industry from 2011 to2020 as research samples,collecting and sorting out enterprise annual reports and Wind database were used as data sources,and cash flexibility and debt flexibility were selected as the research dimensions of financial flexibility.The regression analysis method is used to test the effect of financial flexibility on enterprise growth.The empirical results show that the cash flexibility promotes the growth of enterprises;the financing constraint strengthens the positive effect of cash flexibility on the growth and the positive effect of debt flexibility on enterprise growth.On the basis of empirical analysis,Hikvision makes horizontal and vertical comparison,pointing out insufficient cash flexibility;large flexibility of liabilities;and unbalanced financial flexibility ratio.Suggestions to determine the best cash holdings,improve the level of cash flexibility,expand financing channels,ensure the flexible and stable improvement of liabilities,strengthen the flexible comprehensive financial management,realize cash flexibility and debt flexibility to improve the growth of Hikvision.The research results of the paper enrich the research on the relationship between financial flexibility and growth,and provide reference for Hikvision and similar enterprises to improve their growth.The paper has 10 figures,23 tables,and 89 references.