财务竞争力对企业增长的影响分析——以雅戈尔为例

The Influence of Financial Competitiveness on Enterprise Growth——Taking YOUNGOR as An Example

以财务竞争理论为依据,选取雅戈尔财务数据及相关资料,采用因子分析法评价公司的财务竞争力并回归分析公司财务竞争力与可持续增长的关系,结果显示:雅戈尔2000-2015年间基本实现了可持续增长。公司财务竞争力较强,营运能力、盈利能力及风险控制能力是影响其财务竞争力的主因;财务竞争力与公司的可持续增长显著正相关。公司应通过提高资产利用效率、增强营运能力,突出主营业务,控制成本费用、促进盈利增长,合理利用财务杠杆、优化资本结构等措施来提升财务竞争力以促进公司的可持续增长。

Based on Financial Competition Theory, we applied factor analysis to evaluate YOUNGOR’s financial competitiveness and used regression analysis to observe the relationship between its financial competitiveness and sustainable growth. It turns out that, generally, YOUNGOR developed sustainably from 2000 to 2015. There are three main elements influencing a company’s financial competitiveness： cooperating capability, profitability and risk control mechanism. Financial competitiveness is very significant for its positive correlation with firm’s sustainable growth. To promote their sustainable growth by strengthening financial competitiveness, organizations should increase the efficiency of asset utilization and enhance operating capacity. Additionally, it is essential for them to boost profit by highlighting the core control cost. Some other actions are also needed, for instance, improving capital structure by using financial leverage properly.