Financial Strategy Considering Sustainable Growth: Evidence From China and Russia Gas Market Companies

Journal of Corporate Finance Research, Vol. 13, No. 1, pp. 76-92 (2019)

17 Pages Posted: 20 Jul 2020

See all articles by Alina Steblyanskaya

Alina Steblyanskaya

China University of Petroleum (East China)

zhen wang

China University of Petroleum-Beijing

Elena Ryabova

National Research University Higher School of Economics

Svetlana Razmanova

affiliation not provided to SSRN

Maxim Rybachuk

Financial University under the Government of the Russian Federation

Date Written: 2019

Abstract

Over the past ten years have seen ambiguous situation concerning China and Russia gas companies. On the one hand, companies’ reports show conservative policies and sustainable growth in the coming years, on the other hand, companies’ financial performance suggest another situation because of insufficient level of financial indexes that reflects the inconsistency of existing sustainable growth approaches. These indicates relevance of the research concerning China and Russia gas market companies’ financial sustainable growth in conditions of global economy and investment policy implementation. The main purpose of the Research is to analyze China and Russia gas market companies’ financial growth strategy by means of Geniberg Z – matrix as well as enhanced Financial Sustainability Indicators System indexes by identifying which indicators have a greater influence on Sustainable Growth Rate. It is found that ROCE, ROFA, CR, DOL, ROL influence on Russian gas market companies’ SGR, and ROCE, WACC, ROL, CG Dummy influence on Chinese gas market companies sustainable growth.

Keywords: Chinese gas market companies, Russian gas market companies, Sustainable Growth Rate (SGR), Geniberg Z-matrix

JEL Classification: G32, F30, M21, Q01, Q40

Suggested Citation

Steblyanskaya, Alina and wang, zhen and Ryabova, Elena and Razmanova, Svetlana and Rybachuk, Maxim, Financial Strategy Considering Sustainable Growth: Evidence From China and Russia Gas Market Companies (2019). Journal of Corporate Finance Research, Vol. 13, No. 1, pp. 76-92 (2019), Available at SSRN: https://ssrn.com/abstract=3636876

Alina Steblyanskaya (Contact Author)

China University of Petroleum (East China) ( email )

Zhen Wang

China University of Petroleum-Beijing ( email )

18 Fuxue Road
Changping
Beijing, 102249
China

Elena Ryabova

National Research University Higher School of Economics ( email )

Moscow, 010000
Russia

Svetlana Razmanova

affiliation not provided to SSRN

Maxim Rybachuk

Financial University under the Government of the Russian Federation ( email )

Москва
Russia

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