The Current Situation And Countermeasure Of Our Country Family-owned Farm's Capital Structure

The different ways and the different financing amount in which enterprise's financing activity will form different financing structure, as regards long-term funds, is the structure of the capital. Causing different capital cost, interests conflict and financial risk differently of structure of the capital, influence shareholder's wealth and enterprise's value. So how make debt and rights ratio is one of the important content of finical administration of enterprises to form the best capital structure. The enterprise capital structure influence enterprise as following. First, enterprise's financing structure influence the market value of enterprise through influence the enthusiasm of enterpriser; Second, enterprise's capital structure is influencing the administration structure of enterprises. Under the rational decision, enterprise's operator's goal is to look for the best raising fund 's channel, make the market value of enterprises maximize, make the capital structure of enterprises biggest attractive to investors at the same time.The featuring of enterprise's capital structure of our country family –owned firm: The structure is comparatively single. It is high in proportion that shown as the self-raised fund, bank loan is less. This capital structure make family-owned firm lacks inherent power and the potential energy of development, thus caused family-owned firm to be impossible to expanded the scale rapidly. Fall into one Strange circle " small →Financing difficulty →unable to expand the scale ". The reason of the current situation lies in all sorts of restrictions of state policies, Make its nearly can not get financing from stock market , can not raising fund through issuing bonds either. Through the theory analysis of second , three chapters and case study of chapter four, the text will draw the conclusion: At the present stage, so long as the condition is suitable , when the family firm has inherent financing demand and self fund can not meet the enterprise's request , the first choice of raising fund should be the bank loan . But because of the financial environments and family firm's own limitations in the present stage of our country, the family firm has met a lot of obstacles in bank loan. Through analyzing the forming reason of these obstacles, this text will advance the countermeasure of solving finally: in order to make family-owned firm receive more financial support , it should break the balance of government state-owned enterprise , state-owned bank, and carry on the correct guide to folk financing , perfect the current banking system according to the pluralistic idea.