Research On Sustainable Growth Of The Small And Medium-sized Listed Company Based On The Finanical Perspectives

The Small and Medium-sized Enterprises(SMEs)which are adaptable to the market and flexible in operation, are currently increasing numbers of companies in China. They have made a great contribution to the ease of the employment pressure and promotion of economic development. The establishment of the SME Board in 2004 indicating that the nation pays more and more attention to the development of SMEs and providing a good financing and development platform. However, compared to those large enterprises which assets strong, well-funded, well-developed, small enterprises are often in the formative years, and often accompanied by a variety of risks. Therefore, to focus on the ability of sustainable growth and evaluate and find the influence factors of the growth of SMEs is of great importance.Based on this background, the paper will evaluate whether SMEs to achieve sustainable growth and the influencing factors by regarding small and medium-sized listed company as the object of the research and summarizing the research of enterprise and foreign scholars on sustainable growth. First, this thesis clearly defines the concept of the corporate sustainable growth and summarizing the relevant literature of the evaluation on the enterprises growth to obtain the basic idea to establish the evaluation system. Secondly, the paper analyzes SMEs Systematically from the overall size, industry distribution, regional distribution, and the nature of the actual control. And this thesis analyses the factors that affect the growth of SMEs at the moment. Then, the empirical analysis is carried out on the small and medium-sized listed company using the method of wilcoxon signed rank test and factor analysis. The determined factors mainly include profitability, debt paying ability, growth capacity, cost control ability, equity expansion ability, etc. This present research selects 261 companies as the sample enterprises including five years. The empirical results show that companies do not achieve sustainable growth and performance as rapid growth. SMEs should grasp the ability of growth and the capital expansion capability moderately to prevent enterprises from developing blindly and business failure. Finally, based on empirical research results and the characteristics of SMEs, this thesis come up with strategies, recommendations, the limitations of this study, the prospects in the future.