Research Of Capital Structure Evaluation Model For Listed Companies

The theory of Capital Structure has been a researching hot spot full with dispute since 1950's. According to modern Capital Structure Theory, there is a reasonable range for Capital Structure in a company, which is decided by the compromise of tax, cost of bankruptcy and dealership, etc. However, specific resolution of how to reach this range is not given by modern Capital Structure Theory.In this dissertation, capital structure estimation model of electronic information corporations that have come into market is analyzed. The rest of his dissertation is constructed as follow:In the first part of this dissertation, capital structure model currently used in domestic and overseas are introduced, which would be the basis of researching reasonable range of these electronic information corporations' capital structure. In the second part, with the basis of former research, we deduce 15 factors that have effects on capital structures in our country, using finance reports of those electronic information corporations come into market in recent years as samples. With the help of SPSS and EXCEL statistical software, we employ main component analytical method through selection of factor and sample, and then construct a novel capital structure estimation model. Consequently, synthetical scores of these samples are calculated using our novel model and then the reasonable range of information corporations' capital structure is deduced. In the third part of this dissertation, the conclusion and suggestion are given in the third part of this dissertation. We also give method of using this deduced capital structure reasonable in the decision-making process of corporations' capital structure in a early-warning way. Finally, topics of subsequent research are suggested.