Research On The Influencing Factors Of Financial Sustained Growth Of Listed Companies In The NEEQ In China

The NEEQ Market is an important component of the OTC market in China's capital market.It is a platform for the development of medium,small and micro enterprises.It plays an important role in solving the financing difficulties of listed companies.In particular,the private placement policy is favored by listed companies.With the continuous development of the NEEQ Market,the number of listed companies has shown a rapid growth trend,attracting the attention of the majority of scholars,and the related research results are becoming more and more abundant.However,due to the relatively short time for NEEQ market establishment,there are still some research insufficiencies in some aspects.For example,there is a lack of research on the financial sustainability of listed companies.Financial sustainable growth as a research hotspot in financial management is a measure of the company's continuous and healthy growth standards,and it is of great significance to the long-term development of the company.The listed companies are mostly innovative,entrepreneurial and growth-oriented enterprises,and the listed companies continue to grow healthily plays an important role in the smooth transition of China ' s economy.Therefore,this article combines theoretical research and empirical analysis to study the factors affecting the sustainable financial growth of the listed companies in the NEEQ of China.The focus is to test whether the listed companies have achieved sustainable financial growth during 2013-2016,and analyze related factors against the financial status of listed companies.Expect the analysis of the results is helpful to listed companies continue to develop healthily and make economic decisions for stakeholders.The details are as follows:The article first reviewed the development status of studies related to sustainable growth at home and abroad,and compared them briefly.It was found that there were some differences between domestic and international research.Secondly,theoretically,financial sustainable growth models are analyzed,and mainly introduces the financial sustainability growth model of accounting standards,include described the model's assumptions and derived the model.Then,from the internal and external aspects,analyzes the factors affecting the financial sustainable growth of the listed companies in China's NEEQ.Based on the above analysis,conduct an empirical analysis on the factors affecting the financial sustainability of the listed companies in the NEEQ in china.The results show that: First,the private placement of listed companies and no private placement of listed companies did not achieve sustainable financial growth during 2013-2016.The overall growth of private placement of listing enterprises is insufficient,and the overall growth of no private placement of listing enterprises is excessive.Second,the private placement of listed companies and no private placement of listed companies' financial growth are affected by profitability,solvency,growth capability,operating capability and the ability to obtain cash.Third,the private placement of listed companies and no private placement of listed companies are multiple collinear problems between the independent variables of the regression model,which is suitable for regression analysis using ridge regression.Fourth,the profitability of private placement of listed companies had no significant impact on financial sustainability,and there was a significant positive correlation between cash available capacity,debt repayment ability and growth capacity and financial sustainability.There is a significant negative correlation between operating capacity and financial sustainability.The profitability,cashing ability,and growth ability of listed companies that have not undergone targeted private issuance are positively correlated with the financial sustainability.There is a significant negative correlation between solvency and operating capacity and financial sustainability.Finally,Summing up the contents of the full text and looking forward to the future research on the financial sustainability of the listed companies in the NEEQ.