The sustainable growth model: A tool for evaluating the financial feasibility of market share strategies
提出了一个可持续增长模型，用于从销售回报率、投资需求、资本结构和股利政策角度，评估市场份额战略（如建立、维持或收割）的财务可行性。
Abstract Market share objectives constitute a key element of a firm's corporate strategy. Market share strategy decisions—to build, maintain, or harvest share—are generally based on a careful consideration of the long‐term and short‐term profitability and cash flow implications of such decisions. The product sales growth rate and capacity expansion implications of share building strategies, the sustainability of implied sales growth targets and its consistency with the established financial policies and objectives of the firm are the subject of this report. The sustainable growth model outlined provides a framework for evaluating the financial feasibility of sales growth objectives at the strategic business unit level and the firm level, from the standpoint of expected return on sales, investment requirements per dollar of sales, target capital structure and the dividend policy of the firm.