企业可持续增长财务策略-研究.pdfVIP

企业可持续增长财务策略研究 降低)其他财务比率不变时，本年的实际增长率大于(或小于)本年的可持 续增长率。3．在销售净利率提高(或降低)，其他财务比率不变时，本年实 际的增长率等于本年的可持续增长率。4．在收益留存率发生变化，其他财务 比率不变时，本年的实际销售增长率=本年的可持续增长率。 关键词：企业可持续增长可持续增长率过度增长增长不足 财务策略 4 Abstract I．The and ofthisresearch backgroundmeaning Growthandits infinancial managementpresentspedalproblems planning，inpart becauseexecutivessee as tobc reason many growthsomething maximized．They that as firm’smarketshareand increases，the shouldriseas simply growth profits well．Fromafinancial isnot a perspective，however,growthalwaysblessing． can considerablestrainona unless Rapidgrowthput resources，and company’s isawareofthiseffectandtakes management active tocontrol steps it，rapid caIlleadto can broke．Itisasad growth bankruptcy．Companiesliterallygrow truththatalmostas because toofastasdo many companiesgobankrupt theygrew thosethat too is sad torealizethatthose that grewslowly．Itdoubly companies fast themarket too met test a wantedandfailed by grew providingproductp西pk becauselackedthefinancial acumento only they managegrowth