Research On The Optimization Of Capital Structure Of Angang Stock Limited Company

In recent years,China’s economy ushered in rapid development,iron and steel enterprises as early as many years ago attached importance to China’s development as a pillar industry,the early development is relatively rapid.But with today’s changing economic situation,the demand for such products is also narrowing,which leads to some overcapacity problems for such enterprises.Not only that,but their rapid growth has led them to rely heavily on short-term borrowing,which accounts for a large proportion of their total liabilities,even though some companies do not have high debt ratios.And this kind of company also often has the certain stockholder’s rights excessively to concentrate the question.These problems not only affect the value of the enterprise,but also hinder the long-term development of the company.This paper takes Angang stock as the case study object,first analyzes the present situation of the capital structure of Angang stock and the existing problems,finds out the causes of the existing problems of the capital structure,and then aims at the existing problems,provide capital structure optimization scheme.This paper analyzes the present situation of the capital structure of Angang from three aspects: The structure of equity capital,the structure of debt capital and the structure of total capital,and points out the existing problems,and the capital structure of Angang is compared with the capital structure of the same industry companies,thus the problems of the capital structure are found,excessive proportion of current liabilities.Then,the capital Structure Optimization scheme is put forward.By using the static optimization model,the asset-liability ratio when the enterprise is in the optimal capital structure is calculated,then the dynamic optimization of the capital structure is carried out by combining the internal and external factors which have influence on the capital structure.After determining the dynamic interval of the optimal capital structure,the corresponding countermeasures of capital structure optimization are put forward.Finally,from the internal and external point of view,some suggestions are provided to ensure the smooth implementation of Angang..