Abstract The main contribution of the paper includes: proposing the importance of probing the drives of efficiency from company’s growth and establishing statistical model; finding evidences on Chinese listed firms. The goal of probing such drives is to help management to plan financial strategies. Evidences from 1994-2003 include: the comprehensive reason of company’s growth is the significant change of any of those “four” financial ratios and the obvious IPO which formulate SGR; the main drives for company’s growth are the changes of ROS and EM, while the change of TAT ,RR and IPO have little impact on company’s growth.
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Received: 18 September 2007
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