An Empirical Study On Influential Factors Of Fixed Assets Investment For The Listed Companies

The fixed assets investment growth rate is significant different between the public companies and the country's. The differences in specific aspects are:the country's fixed asset investment growth rate has been in a state of accelerated growth, but the growth rate of public companies is not only far below the country's fixed assets investment growth rate, but also some enterprises have been for several years in a negative growth. Generally speaking, the fixed assets investment have three features:the first, it involves a relatively large amounts; The second, it will last a long period; The third, it will involve to a wide range.So the fixed assets investment will have a great affect on the enterprises' sustainable development capacity. Especially in the current economic situation. If the government want to adjuste the industrial structure, to upgrade the industrial capacity, and to stimulate the real economy's development, so that China can be completely out of the economic crisis, it is necessary to guide enterprises to invest rationally and effectively. Therefore, this article attempts to study on the fixed assets investment of China public companies, in order to identify the key factors affecting in investment, and we can analyze investment problems to finally work out the corresponding measures. In this study, the research techniques that we use are standardized research and empirical research studies,point in time and time sequence of static. The factor analysis are the company's debt capacity, profitability, cash capacity, growth capacity and the industry, the government regulatory policies. Through the study, the research results divide the influencing factors into three level:the first, the government's control policy; the second level, the industry factors; the third level, the financial situation of the company. Among them, the government's regulatory policy is the most fundamental reasons, which on the one hand led to the non-equilibrium between the industries, and on the other hand also caused the discordance between investment and the financial station of the company. Finally, from the reality, we put forward policy recommendations for the Chinese listed companies, whose investment is under the government-led.