Studies On Governance Effect Of The Capital Structure Of Chinese Listed Companies

The theories of capital structure are numerous and complicated and dependent on each other so that we are unable to decide which is right. The theories of capital structure evolution process is we attach more and more importance to governance effect process too. History proves that it is capital market to restrain the capital structure governance effect externally, that is to say capital market is great environment capital structure effect brings into play. The inherent condition is to governance mechanism. Governance structure influences capital structure. We haven't studied capital structure and company governance before long, but capital structure and company governance is dependent. We can't and not necessarily find capital structure and governance mechanism one to one point. Management Structure's essential attribute is isomorphism and comparability according this we analyze capital market is the listed companies' capital structure governance effect externally and the inherent condition is to governance mechanism.The author thinks management should be management Structure theory in normal form. Management Structure's essential attribute is isomorphism and comparability. Isomorphism comments management model's existence. Comparability explains management immobile point's existence which proves management's optimum degree. Which is the methodology of this essay.Capital market environment and the reaction of company governance structure on capital structure reflect on the institutions construction mainly. Institutions are a promise that can be believed in essence. In order to bring our country's listed companies' capital structure governance effect into play normally, capital market system need to be perfected and at the same time perfect company governance mechanism must be consummated . Institutions are not changeless or external, but the result that human history chooses. I think the premise of scientific Institutions was to pay close attention to history and hold today.