Analysis On Influence Factors Of Gems' Growth

The growth of Chinese GEMs is playing an important role in the development of Chinese economy.However, due to both of the subjective and objective reason, the growth of the GEMs faces a lot of difficulties. Many researches focus on their growth and imvestment value.The paper researches the influencing factors of 104 listed corporations'growth in statistical method, using empirical data.First, the paper reviews the research on the influencing factors of corporation growth made by domestic and alien researchers, and introducing the method and content of the recearch.Second, the paper systematically summarized the market nature and the characteristic of small and medium-sized enterprises in our country, analyzing the growth facter combining GEMs'nature and the characteristic, from the internal facter and external facter.Third, the establishment can be more objective and specifical to reflect GEMs'appraisal target system.The utilization of factor analysis method and the unions of data constitute the growth appraisal model. Through the factor analysis to obtain the factor load matrix and the main growth factors.In profits from the scholars'correlation research results, the paper theoretically analyzes its growth influence factor,namely earnings factor,debt service factor,operating factor,R&D factor,cost control factor,cash efficiency factor,marketing capacity factor,scale factor,and generally evaluating the sample corporations.The paper also analyses the external influence facter through qualitative research,such as the policies,the environment and requirement of maket, industry and location.Finally, the paper also researches the different growth facters of GEMs in China and other countries from the requirement of list, the way of GEMs'growth, the structure of industry and the corporation characteristics, to provide the references to small and medium-sized enterprises.According to the result of diagnosis analysis, the article proposes certain suggestions on strengthening small and medium-sized enterprises'board construction from maket locating, risk guarding and grow in self, pointing out the sufficiency and the limitation in this research, as well as domaining the future research direction.