| Hi-tech company is important in national economic development, which not only improve economic development, but play an essential roles in technique transformation of traditional company. Therefore, that how to enhance the revenue of hi-tech company, and how to develop the hi-tech company healthily, and that how to play their important roles in national economic development has become a pressing issue, which is also the purpose of this study lies.This article has analysed the operating mode of hi-tech companies from their capital structure in the qualitative and quantitative methods, and has studied the status quo of capital structure of Chinese high-tech company, compared the capital structure of high-tech company with that of other kind of companies and with that of foreign companies.Through research and analysis, this article believes that the capital structure of Chinese listed high-tech companies are not very visible in features, whose mean close to the average level of all listed companies. And there are essential difference between the capital structure of our listed high-tech company and that of high-tech company of US Nastaq. Through related analysis we found that there are visible conic relation between capital structure of high-tech companies and their yield, which shown that capital structure of high-tech companies really affect their running. However, the fact that the capital structure of high-tech companies and their Tobin 'Q are unrelated shown that our capital market is still not perfect. |
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