The Optimization Of Asset Structure And Capital Structure Of L Coal Company And Its Influence On Corporate Performance

The coal industry entered a "cold winter period" after the end of the 10-year golden development period in 2012.In 2016,the state proposed to remove the production capacity of the coal industry.With the merger,reorganization,transformation and upgrading of coal enterprises,the backward production capacity exited in an orderly manner and the high-quality production capacity was continuously released,the coal industry began to recover after the "cold winter".In the face of complex external market environment,extensive use of new energy,environmental protection and safety and other pressures,it is of great significance for coal listed companies to enhance their risk resistance and market competitiveness by optimizing their financial structure.Asset structure and capital structure are two aspects of financial structure.The asset structure reflects the direction of the capital of the enterprise.A reasonable asset structure is conducive to the enterprise to reduce operational risks and give full play to the asset portfolio effect.The capital structure reflects the source of enterprise funds.A reasonable capital structure is conducive to the optimization of resource allocation and the improvement of capital yield.It can be seen that asset structure and capital structure have an important impact on corporate performance.Therefore,the author takes L coal enterprise as the object to study the influence of its asset structure and capital structure on its business performance.After the research background,purpose,significance,literature review and main theoretical elaboration,this paper first collates and calculates the financial data of the coal mining and dressing industry and 1 enterprise from 2015 to 2019.Through the horizontal and vertical analysis of the asset structure,capital structure and operating performance indicators,it is known that 1 coal enterprise has low current asset ratio,high asset liability ratio and short-term debt ratio,and high enterprise competitiveness The financial risk of the big business is facing.Then,taking the business performance indicators of 1 enterprise as the explained variables,and the relevant indicators reflecting the assets and capital structure as the explained variables,the regression linear model is established.At the same time,the curve estimation analysis is made between the explained variables and the explained variables,and the influence of the various indicators of assets and capital structure on the enterprise performance is obtained.Finally,According to the conclusions in Chapter 3 and Chapter 4:assets structure,capital structure and operating conditions of L coal enterprise,the impact of financial structure on business performance,this paper puts forward relevant suggestions on asset allocation and financing,so as to optimize the assets structure,capital structure and improve business performance.