Empirical Test On Financing Order Of Listed Company With Expansion Actions

This thesis, on basis of structure theory of the capital, using the empirical test,makes exploratory study on the capital sources of Chinese listed companies with theexpansion actions from 1998 to 2004 .I hope to summarize some laws of the listedcompanies with expansion actions of our country obtaining the capital from the positiveresearch, and put forward some improvable suggestions to the limitations existing amongthem .The results of study of the empirical test shows : in China the listed companies withexpansion actions operated well. when financing necessary capital, they considered debtfinancing at first, thus it helped to bring financial lever utility to company, create morevalue for shareholders . This means that operators in the listed companies in China havesense of operating companies in debt too .there financing behavior is reasonable.Certainly, there are certain limitations too in financing in the listed companies withexpansion actions of our country. Mainly shown as: The proportion of the inside raisingcapital is lower and irrationality of the financing structure of the debt.