The Study on Optimizing the Capital Structure of Listed Companies in China
ABSTRACT
Capital structure is the enterprise capital formation and its relationship of scale. Capital structure is the core enterprise financing decision problem. They are important factors to influence enterprise management activities. Capital structure whether reasonable will influence the company's manage achievement and long-term development. Theoretically, enterprise's optimal capital structure is existence, but because the enterprise internal and external environment change, making sure enterprise optimal capital structure is very difficult. So be through the quantitative and qualitative methods combining comprehensive consideration of the influence of various factors, capital structure to determine the best of the best capital structure enterprise. From the practical significance, medium-small listed companies generally exist capital structure unreasonable phenomenon. Outstanding performance for asset-liability ratio low, the company preference equity financing and so on a series of problems, and business capital structure is unreasonable, resulting in corporate governance structure defects, which seriously affects the healthy development of the listed company. At present management and operation distance of listed companies in our country standardized, scientific also has the very big disparity. Therefore, strengthens to the capital structure of listed companies, promoting future research for the healthy development of the enterprise has a significant practical significance.
First, this thesis comprehensively and analyzes the problem of capital structure in listed companies in our china. The thesis supports that capital structure of listed companies in China is characterized by low rate of obligation, high stocks financing and so on, and displays intense preference to stocks financing. Next, this article analyzes the origin of preference to stocks financing in China’s listed companies. At last, this thesis proposes measurers by that capital structure in China’s listed companies should be optimized.
Keywords: listed company capital structure optimization
Type of thesis：Applied
