Empirical Research Of Capital Structure On China's Port And Shipping Listed Companies

Resorting to the western Capital Structure theories and the reference of latest research output in China, This thesis offers thorough empirical analysis study of the correlation between Chinese listed port and shipping companies' capital structure and their performance. Based on the analysis above, an explanation to the empirical results followed, based upon which Concrete countermeasures and advices to refine the listed companies capital structures as well as the management frame was proffered by the author.This paper begins with an introduction of relevant theories. Then the characteristic of listed port and shipping companies' capital structure are introduced. Secondly related domestic documents are given. The domestic researches in this domain covered and appraised and the limitations of their conclusions that the hypothesis gap between arithmetic theoretical premises and realities are pointed out. Then the research design of the data resources, variables, model selection and their significance are made. Data analysis and conclusions are followed. Labels are valued through statistics analysis and the correlation between capital structural and company's performance deducted. Explanation to the mode result is followed. Because of this relationship between the two factors explained through the analysis of domestic listed port and shipping companies, management structure as well as the equity and liabilities influence in the management structure is analyzed. Last is the countermeasures and advice are given. Enhancement of the bonding influence of liability and refinement of company's equity and advices to improve the Performance of the object companies are followed.