A Study On The Influencing Factors Of Listed Companies In Establishing Financial Leasing Companies

Finance lease industry has achieved rapid development from the introduction in the 1980 s to now.Although it has experienced setbacks in the process of development,finance lease business and thousands of finance lease companies have penetrated into every aspect of our economy no matter in quality and scale,which contributes to the development of national economy.Recently,A large number of listed companies have started to develop finance lease industry,especially the companies represented by finance,equipment manufacturing have set up exclusively-invested or jointly owned finance lease companies.At the same time,finance lease has become a more popular topic and has attracted the attention from various aspects.In recent years,the empirical studies on the finance lease business mostly focus on Leases,which means to consider the influence factors and trading motives from the perspective of Leases.This essay considers factors that whether affect listed companies set up financial lease companies from the point of listed companies.Listed companies,as a way of diversification strategy,set up financial lease companies to promote performance by the use of remaining resource.But the strategy does not apply to all of the listed companies.Based on the factors influencing finance lease and diversification of motivation theory,this essay chooses the 307 samples between 2000 to 2015 as the subject to explore the choice of finance lease business as the influence factors of diversification strategy.This essay puts forward ten hypothesis that may affect the establishment of financial leasing company from two angles of financial data and non-financial data according to previous theory.Using the CSMAR database published financial data and other indicators of listed companies,it turned out that scale,growth,operation ability and cash flow of the company have a significant influence on the building finance lease companies based on the processing and analysis of the data by logistic model.Scale,operation of the company and the building finance lease companies are positive correlation;while the growth,cash flow associates with the building finance lease companies negatively.