Research On The Capital Structure Of Listed Companies Of Electronic Information Industry Impact On Company Performance

Small and medium enterprises issues are the focus of national concern in recent years. China Securities Regulatory Commission on May 17, 2004 agreed to the Main Board of the Shenzhen Stock Exchange established within the SME sector. The aim is to expand to a certain extent, the financing channels for SME, facilitate a capital injection to meet the needs of small and medium enterprises to ease the plight of SME operating in. The availability of capital structure to maximize the value of enterprises is an important measure of factors, the reasonableness or otherwise imposes an impact positive or negative benefit. Compared with the Main Board listed company, the SME Board capital structure impact on business performance difference will be what we need to focus.In this context, the article chooses the industry which can directly promote economic growth and the development of many traditional industries and become pillar industry of national economic development - the electronic information industry as the research object, and use the period from 2007 to 2009, obtained Cross-section data for the samples, then use econometrics in the multiple linear regression model, and the statistical software SPSS to analyze the correlation between the capital and company performance.The conclusion is that: short-term debt ratio, or whether it is in the main board market or in the small board, and company performance were tested negative linear relationship; In the main board market, the electronic information industry assets-liability ratio was inverted and Performance "U "shaped relationship; In the SME board, company performance and its asset-liability ratio showed a negative linear relationship; except in 2008, the rest of the company's long-term debt ratio and the results show a positive linear relationship, and in the SME board Electronic information company whose long-term liabilities ratio and corporate performance in 2009 was a negative linear relationship. Electronic information that the SME board and the board of listed companies compared differ greatly in debt financing. The bonds structure of the corporation listed on the SME board bring the negative impact on corporation performance means that debt financing for the SME board exist some problems. According to the analysis of empirical research results, the board of listed companies for SME to optimize their capital.