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The paper aims to identify the factors affecting the sustainable growth rate of companies over eleven years from 2011 to 2021. The research used panel regression analysis and examined a sample of 92 manufacturing companies operating in the market of Kosovo. This study used a pooled OLS regression model to investigate the variables affecting sustainable growth rate (SGR). According to the research, SGR has a negative significant impact on profitability (ROA), liquidity (LIQ), and equity ratio (TETA). However, there was a positively statistically significant relationship between SGR, asset efficiency (STA), capital structure (TDTE), and sales growth (SG). These findings provide insight into the important factors influencing the study environment's sustainable growth rate. The findings, according to the study, can be used by management to build and implement long-term growth strategies. Businesses can improve their operations, and align them with the objective of sustainable growth by considering the impact of the identified variables. It also provides for a more accurate evaluation of the company's financial success and long-term performance. The study's findings have practical implications for a wide range of stakeholders, including corporate executives, investors, financial institutions, and researchers. All of these groups can use the knowledge provided to make better decisions and support sustainable development rates. [ABSTRACT FROM AUTHOR]

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The Sustainable Growth Rate is the maximum growth rate of a company so that it can grow without running out of funds from funding activities such as increasing shareholder capital ownership and drawing loans from creditors. This study measured, tested, and analyzed factors affecting sustainable growth. Some of the factors used in this study are leverage, profitability, and total asset turnover. This study uses objects from raw material sector companies and primary sector companies listed on the Indonesia Stock Exchange for 2018 - 2022, during which data collection was carried out using the purposive sampling method. The form of research used is associative research, a method that examines the relationship between variables, with a quantitative approach. The research data is based on secondary data, namely the company's annual financial report, which is available and has been audited by an independent auditor. Data processing uses multiple linear regression. The study results show that Leverage (DER) and Profitability (ROA) positively affect sustainable growth, providing practical insights for financial analysts and professionals in the raw material and primary sector industries. Total asset turnover (TATO) does not affect the sustainable growth rate. This study also shows that raw material sector companies have a higher sustainable growth rate than primary sector companies.

Based on a sample of Chinese listed companies from 2009 to 2021, this study finds that environmental, social, and governance (ESG) performance has a positive impact on having a sustainable growth rate (SGR). Our heterogeneity analysis reveals that ESG performance leads to higher SGR, particularly among firms with lower SGR or non-state-owned enterprises. The mechanism analysis suggests that ESG performance enhances SGR by stimulating patent applications, reducing agency costs, and mitigating corporate risk. Further analysis indicates that the environmental score has a negative influence on SGR, whereas social and governance scores have a positive impact. Ultimately, this research emphasizes that ESG performance can enhance financial performance by driving SGR.

Purpose: This research aims to analyze the influence of three crucial financial factors in companies, namely Board Education Background Accounting, Market Capitalization, and Leverage on the Sustainable Growth Rate (SGR). Methodology/approach: The type of research used in this study is quantitative research with an associative causal approach. The analyzed data consists of financial technology banks in Indonesia from 2017 to 2022, along with data from conventional companies to compare the performance of both types of banks. The number of companies used is six FinTech and four conventional banks that compare the performance of the two types of samples. Findings: The research results provide valuable insights for FinTech stakeholders, assisting in making informed decisions regarding financial management and growth strategies. Practical and Theoretical contribution / Originality: This research contributes to the academic literature in the field of corporate finance and sustainable growth, especially within the rapidly evolving FinTech context. Research Limitation: Despite the fact that this study considers three main variables, there is still a possibility that other factors influencing the SGR are not taken into account.

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This research examines how the banking industry maintains its sustainable growth rate. The sample consists of 328 commercial banks in the ASEAN area. A fixed effect model is employed to analyze the data. The study reveals several findings: (1) The countries with the most risk in the banking industry are Indonesia, Thailand, Philippines, Malaysia, and Singapore. (2) Operational risk has a negative effect on sustainable growth and a positive effect on actual growth. Asset utilization positively affects sustainable growth and positively affects actual growth. (3) Business risk has a positive effect on sustainable growth but a negative on actual growth. (4) Liquidity risk positively affects both sustainable growth and actual growth. (5) Financial risk has a negative effect on sustainable growth but not on actual growth. These findings contribute to the body of knowledge of financial management specifically in terms of determining dividend and financing policy, operational activities and bridging conflicting objectives of managers and shareholders. Furthermore, these findings have implications for the practice, especially for shareholders, in how to maintain and set sustainable growth targets in conditions of various risks in banking. For banks within the framework of ASEAN integration, it is important to place SGR as a measure of sustainable finance. [ABSTRACT FROM AUTHOR]

We aim to investigate the sustainable growth rate that mediate the relationship between the firm specific factors and share price performance. The existing literature provides inadequate findings on the relationship between the firm specific factors and share price performance; there is an implicit assumption that this relationship is direct. An alternative perspective that has received less attention in the literature posits that this relationship can be mediated by the sustainable growth rate, especially from the perspective of Shariah-compliant companies. Using STATA software, we conducted structural equation model (SEM) to analyse data from 181 Shariah-compliant companies in Malaysia collected from 2007 to 2016. According to our results, the Shariah-compliant sample meets SEM requirements, such that the sustainable growth rate shows a significant relationship with share price performance. According to mediation effect results, capital structure, dividend policy, profitability and firm size are considered “indirect-only mediator”. These results demonstrate that certain factors influence the sustainable growth rate, including the planning and managing of a firm’s financial and operational activities. The sustainable growth rate is important for helping firms to manage, guide, control and plan their operating and financial strategies. The sustainable growth rate can also improve financial performance and assist managers with financing decisions. The findings of this study can be used as a reference for future studies that examine other aspects of the sustainable growth rate, especially across sectors, to determine how firms can more successfully manage financial and operating activities.

As a prerequisite for long-term strategic and financial planning, sustainable growth is a future-oriented concept that was based on the company's long-term survival with value creation. The primary aim of this paper is to determine the indicators that have an influence on sustainable company growth rate during the five-year period of 2016 to 2020. Panel regression analysis was used in order to thoroughly analyze the sustainable growth variables. Our analysis was based on a sample of 675 observations of companies operating in the Eastern European market. The obtained results showed that liquidity and leverage have a negative impact on sustainable growth, while profitability has a positive impact on sustainable growth. The impact of these variables was statistically significant. The obtained results may serve as an effective company tool to improve the target sustainable growth rate. They provide support for the company's management to improve its business and ensure healthy growth without major financial difficulties, as well as to promote a sustainable business that will increase the market value of the company. Moreover, all internal and external stakeholders will be provided with insight into the reality of growth plans and opportunities for future sustainable growth, which creates a basis for measuring a company's business prosperity and predicting its long-term performance. [ABSTRACT FROM AUTHOR]

This study seeks to test the effect of fixed asset growth on sustainable growth rate and the role of sustainable growth rate in mediating the impact of fixed asset growth rate on firm value. This study involves 134 Indonesian manufacturing firms in 2013-2018. We analyze the data by using the panel data regression with both the fixed and random effect models. The results demonstrate that fixed asset growth positively affects sustainable growth rate. Besides, the findings show the positive impact of sustainable growth rate on firm value and that sustainable growth rate strengthens the impact of fixed asset growth on firm value. This study contributes to extend the previous literature on sustainable growth rates. In addition, it has several implications that are relevant for firm managers and investors relating to the relationship between sustainable growth and asset investment and firm value. However, this study is subject to several caveats that need to be emphasized by future studies.

The main purposes of this paper are (i) to review investment, financing, dividend, and production policies in some detail; (ii) to discuss how these four policies are interrelated and integrate these four policies into a composite policy; (iii) to discuss the impacts of financing, dividend, and production policies on the beta coefficient; and (iv) to develop hypotheses to be used for empirical studies on the interaction among financing, dividend, and production policies. A theoretical relationship between beta coefficient and financing, dividend, and production policies is developed. This paper gives an overall view of the four policies used in finance education and research for the last five decades. [ABSTRACT FROM AUTHOR]

Penelitian ini bertujuan untuk menguji dan memberi bukti empiris mengenai perbedaan pengaruh kinerja keuangan dan nilai perusahaan terhadap tingkat pertumbuhan yang berkelanjutan antara perusahaan yang terdaftar dalam Sri Kehati Index (SKI) dan perusahaan diluar SKI selama periode tahun 2015-2017. Tingkat pertumbuhan yang berkelanjutan diproksikan dengan Sustainable Growth Rate (SGR) sebagai variable dependen, sedangkan kinerja keuangan dan nilai perusahaan diproksikan dengan Return on Asset (ROA) dan Price Earning Ratio (PER) sebagai variable independen. Tehnik analisis dilakukan dengan menggunakan analisis regresi linier berganda dengan Uji F dan Uji T sebagai penguji hipotesis sehingga diperoleh hasil pengujian empiris. Penelitian ini merupakan hal yang penting untuk mengetahui apakah variabel yang digunakan untuk menyeleksi perusahaan di dalam SKI yaitu ROA dan PER telah tepat dapat mendukung keberlanjutan usaha untuk memberikan pengembalian investor. Hasil penelitian ini menunjukan bahwa adanya perbedaan pengaruh PER terhadap SGR antara kedua kelompok sampel dan tidak ada perbedaan pengaruh ROA terhadap SGR. Hal ini berarti menunjukkan bahwa nilai PER sangat layak untuk digunakan dalam menilai kondisi perusahaan pada kelompok sampel karena merepresentasikan kondisi suatu perusahaan dengan spesifikasi dan kriteria pengelompokan yang berbeda dalam model penelitian. Penelitian selanjutnya dapat menggunakan variabel lain yang diduga berpengaruh dalam memoderasi.

The focus of the bank to increase profit. However, the increase in profit is not important to focus on because the sustainability of growth is more important. Measure the level of sustainable growth is an important factor that needs attention as a reflection of the performance of a bank. The measurement uses the concept of growth called the Sustainable Growth Rate (SGR). This study aims to provide empirical evidence on the effect of liquidity proxy Loan to Funding Ratio (LFR), asset quality proxy by Non-Performing Loan (NPL) and efficiency proxy by Operating Cost to Operating Income (BOPO) toward SGR. The sampling technique is purposive based on the criteria so that the selected 22 banks with the study period 2012-2107. Unit analysis as much as 132 observations. The analysis of data using panel data regression. The findings of the study showed that LFR, NPL, and BOPO had a significant negative effect on SGR. The implications of research that SGR becomes important as it relates to the bank's strategy to continue to grow and continue in order to expand its business maximally while maintaining internal and external funding sources.

The research methodology starts from the calculation of the coefficient for each individual company in order to obtain the indicators by calculating the arithmetic mean, median and quartile. As econometric stochastic models have little value for predicting or explaining the growth process at the level of individual companies, the central subject of interest is understanding the growth process at the level of an individual company. The sustainable growth rate of a company depends on the activity of the company. Numerous factors can affect the growth of a company, but the influence of individual factors on the growth of a company is rarely significant and permanent. The results of the research indicate a very asymmetric distribution of the size of enterprises, with a small number of large enterprises and a large number of small enterprises. The model of sustainable growth is an effective tool for financial planning and directing business policy towards stimulating growth in certain industries.

Copyright of Acta Economica is the property of University of Banja Luka, Faculty of Economics and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Regarding the importance of Sustainable Growth Rate (SGR) calculation for firms as a basic of financial decision, many previous studies had highlighted the variability of SGR calculation. The research’s first objective focused on two methods of SGR calculation and figured out the determinant factors (internal and external) that affect firm’s SGR. One method focused on different determinants of SGR when industry or firm specific aspects were considered. Whereas, SGR (II) focused on determinant of SGR when firms are reluctant to issue new equity. The second objective was to investigate the determinant factors towards SGR in both models. Sample for the research was public-listed manufacturing firms in Indonesia from 2011 to 2019. The result shows that there is significant difference between the two methods, and not to mention that Return on Equity (ROE) becomes the only factor that affect SGR (in both models). The implication is due to the limited amount of time, so the research can only compare two different method of SGR.

China's renewable energy industry has developed rapidly. However, due to China's current energy structure, coal plants still dominate the power generation, which poses a huge challenge to China's greenhouse gas reduction. On the other hand, this situation indicates that China's renewable industry still has great development potential and the sector can make a constructive contribution to China's response to climate change. However, in the process of developing the renewable sector, how to improve the profitability of enterprises and gradually lower the dependence on traditional energy is an important issue faced by corporate and government decision-makers. Therefore, from the perspective of capital structure, this paper aims to study its impact on the performance of renewable companies in China so that the society can achieve a “win-win” situation for enterprise development as well as environmental protection. By using pooled ordinary least squares and advanced panel data models, including fixed effects model and random effects model, the empirical results show that the relationship between capital structure and company performance is statistically significant in China's renewable industry. Specifically, the sustainable growth rate is significantly positively correlated with the total net profit margin, indicating that the sustainable growth model can be used to estimate the profitability of renewable companies in China.

The influence of an investment in social well-being and environmental protection on the steady financial growth of the oil and gas industry is studied, and a new interpretation of financial growth is proposed. Unlike traditional approaches to this interpretation, the proposed interpretation views financial growth as a function of energetic, ecological, economic, and social factors. The composition and the structure of steady financial growth are considered for Russian and Chinese oil and gas companies. The Lasso regression, linear regression and SARIMA modelling are used for determining the composition of economic processes affecting or predetermining the Sustainable Growth Rate up to the year 2030. The presence of a close dependence among the dynamics of energetic, social, and financial processes and the absence of a close dependence between the dynamics of financial growth and the values of environmental protection indices are established for Russian oil and gas companies. On the contrary, the close dependence between the dynamics of financial growth and the values of environmental protection indices and energetic activities, and the absence of a close dependence between the financial growth and the social well-being of the personnel are determined for Chinese oil and gas companies. [ABSTRACT FROM AUTHOR]

Many profitable businesses can get bankrupt if they grow too slowly or too fast. In order to assess whether a company is growing too slowly or too fast, it is necessary to establish a sustainable growth rate, that represents the maximum growth rate which the company can achieve without additional debt growing. The aim of this study is to determine the sustainable growth rate for the enterprises of the agricultural andfood sector in Serbia in 2012 and 2013 and to determine whether there are differences between these two interconnected sectors. The construction sector which is not reproductively connected with agriculture and food ones, was introduced in the study as a control sector. The aim is also to establish a real sustainable growth rate of observed sectors in Serbia taking into consideration the inflation rate which in Serbia has visible fluctuations for the observed years. Real sustainable growth rate serves as a landmark for drawing conclusions about the development potential of these branches and as a conclusion of which internal or external incentives are needed to further increase sustainable growth rate, namely potential for growth. Limitation of the work scope focused research on identifying sustainable growth rate and mutual comparison of observed sectors and provided a basis for further research in the direction of the comparative analysis within the agricultural sector, as well as for determining agricultural activities with the greatest growth potential, expressed through the sustainable growth rate.