A Study On The Corporate Financial Behavior And Influential Factors: Based On Listed Company Financing Preference-based Perspective

The study on the enterprise financing has always been one of the core issues of modern corporate finance theory. According to the MM theory, corporate capital structure has nothing to do with the corporate market value; a variety of financing ways can be alternative undifferentiated, which caused widespread concern in theoretical circles. Then, many schools have relaxed the assumption of the research. Trade-off model theory and financing pecking order theory have the most representative. Meanwhile, Domestic theorists have also been many theories about it. They mainly based on the perspective of the financing structure, gained a conclusion: the enterprise has a preference for equity financing; it is different with many foreign results.First, this paper bases on financing theory ,combine the relevant research to analyze the preference of the enterprise, second, According to the situation of China, for the status of "equity financing preference" ,it distinguish between financing structure and financing preference, then construct the regression analysis model under heterogeneous conditions in order to re-establish the pecking order for the corporate finance behavior and its influencing factors, which provide a theoretical premise and foundation. Finally, base on Internal Financing, use Logic models to test corporate financing behavior factors, according to results of the empirical conclusions, and make the corresponding analysis. The last part gives several suggestions about the enterprise financing.