Influence Of Financing Structure On Corporate Growth

Manufacturing industry as a pillar industry of our national economy，is thedominant sector in China’s economic growth and economic transformation. Asan important support for economic and social development， the manufacturingindustry is the concentrated expression of the main channel and the internation--al competitiveness of China’s urban employment. In the process of economicdevelopment，manufacturing industry is to maintain an important guarantee ofnational life. Since the reform and opening policy， funding sources of manufa--cturing industry and overall financing structure with the direction of the reformof economic system continuously changing， and different capital sources for fina--ncing structure and development of manufacturing enterprises have had differenteffects.This paper carries on the analysis of data collected， in order to shallowview of the relationship between the growth of manufacturing enterprise financingstructure of enterprises， according to the classification of financing structure，carry out substantive research from internal financing， equity financing， debtfinancing aspects，analysis the influence factors of the financing structure of thegrowth of beneficial or detrimental in manufacturing enterprises the proposed the--ory， perspective， to standardize the behavior of enterprise financing， finan--cing structure optimization of manufacturing industry， improve the economicbenefits of enterprises manufacturing effect.To make this paper more practical value， the author from the industry spe--cific type of reference to the research results，the financing structure， analyzedfrom many aspects，multi angle data in China listed manufacturing enterprises asthe object， then the data and samples of the growth of enterprises to practice， through regression analysis of the industry， construction， growth and betweendifferent financing structure of the business model，analysis of every explanatoryvariables and its influence. The research results can be seen， the debt financingand current debt ratio will adversely affect the growth of enterprises， accountedfor a relatively reasonable but the high degree of equity financing in China’s manufacturing enterprises， the structure needs to be improved， the source of fina--ncing in the source of funds of enterprises accounted for more than the mini--mum， but its obvious advantages， it needs to use. These characteristics of fin--ancing are need to be improved， if improved reasonable will bring certain effectto enterprise growth optimization.