Research On Financing Strategy On Basis Of Enterprise's Sustainable Growth

Enterprise development in the face of growth is the main issue. Continued growths means more value for shareholders, therefore, hope that the aspirations of enterprises to maintain sustained growth that is consistent with commercial spirit, is consistent with company goals. However, rapid growth companies, easily lead to a shortage of funds and corporate financial resource constraints. Therefore, the concept of sustainable growth is proposed, and is defined as:"do not run out of business in the context of financial resources, enterprises can achieve the maximum growth."China is still a period of rapid economic development, population, a larger number of demand-pull on the economy, the real estate industry, represented by some excellent market opportunities facing the industry. In this backdrop,2000 embarked on the real estate industry in China after the rapid growth and expansion of roads. From the Shanghai and Shenzhen Stock Exchange real estate company, with almost all of the company's actual growth rate of more than 20%, most of them higher than the growth rate of the enterprise's own financial sustainability. This is how to maintain a high growth business while the corporate financial. resources are not exhausted and the effective allocation of proposed requirements-which is under the sustainable growth of financial corporate finance strategy.Generally believed that, when the actual growth rate is higher than the financial sustainable business growth, capital will be a shortage. In particular, capital-intensive way for real estate, industries with high financial leverage, capital shortage is a serious problem. China Vanke by the time of the rapid growth of corporate finance strategy-such as dividend policy, debt financing policy, equity financing strategies, and listed on the Shenzhen Stock Exchange with the same real estate investment company for comparative analysis and case studies, trying to summarize the actual growth rate in the face of good corporate finance sustainable growth rate higher than the stage of development, we should choose what kind of corporate finance strategy; same time, these finance companies will act and what impact the financial condition and results.Thesis is divided into five chapters, each chapter reads as follows:Chapterâ… :Introduction. Mainly about the research background and significance; research ideas and research methods.Chapterâ…¡:Literature Review. Mainly on the financial sustainable growth, the two aspects of corporate finance literature review.Chapterâ…¢:Financial sustainable growth strategy and corporate finance theory. First, the financial implications for this sustainable growth and corporate finance related concepts described. Combined with the case will be discussed on the basis of the theory of corporate finance paper, the following theoretical analysis and case studies and ideas provide the theoretical groundwork to prepareChapterâ…£:Financial sustainable growth model and financing strategy theory. Most of financial indicators of sustainable growth model and its components analysis, combine financing strategies, analysis of the relationship and interaction between the two.Chapterâ…¤:Case Study. Vanke and China Merchants Property Development for the two listed companies, based on the basic theory of the case study, financial analysis, summarized Vanke to finance sustainable growth as the goal of corporate finance strategy and generate further their knowledge and understanding.Chapterâ…¥:Conclusions and policy recommendations. Use case studies and conclusions of thinking, as in high-growth companies in the choice of financing strategies, financing methods to provide a reference and recommendations.The main contribution of this paper isFirst, in order to finance sustainable growth model as a starting point, leads to rapid growth in corporate sales growth higher than when the actual growth rate of financial sustainability, the financial resource constraints prone to problems, and from the four elements of the model factors point of view of the relationship with the financing strategy;Second, then the theoretical analysis and case studies, best summed up the problems facing enterprises in a range of corporate finance strategy and financing strategy for the corresponding policy recommendations summarized.