Study On The Choice Of The Listed Company's Financing Means

The rational choice of the listed company's financing means not only decides the financing validity but also has the broad effect. From the macroscopic view, it affects the allocation of resources validity, from the microcosmic view, it affects the advance of the listed company's quality. Generally speaking, the listed companies attach much importance to equity financing while place inadequate emphasis on debt financing. This financing behavior has lead to a lot of problems, so people have pay attention to this behavior. So, if the listed company's behavior is rational? What causes this behavior? The choice of the listed company financing means is affected by various factors, what factor are they? The research on these questions not only can make the choice of financing means rational but also can promote our country's thorough investigation and discussion about capital structure problem, so this research have important theoretical and actual significance.This paper studies the choice of the listed company's financing means, based on other people's research achievements and literatures. From the aspects of financing behavior and capital structure,This paper stats the listed company financing current situation, and then it points out the problems which this financing behavior has lead to , Then the paper analyses the inner and the external factors influencing the choice of the listed company's financing means. Through comparative analysis for the choice of the listed company's financing means in developed countries, this paper thinks we should learn from the developed country's financing experience and consider the environment condition for our country's financing to look after a financial pattern which adapts to our country. On this basis, the paper puts forward our country's financing strategic and the corresponding policy recommendations on standardizing the listed company's financing behavior.The paper is divided into seven parts. In part one, the paper generally describes the topic of the article and its definition, besides it introduces research approaches, structure and content, on the basis of other people's research achievements and literatures. In part two, the paper introduces some theories about the corporate financing theory, and this can provide a rationale for the paper. In part three, it introduces the listed company's typical financing means systematically; moreover it also compares these financing means. In part four, it statistics the listed company's financing status, and makes some discussion about the questions that caused by the financing behavior. In part five, firstly, it analyses the factors affecting the listed company's financing means. Secondly, it analyses the inner factors from the empirical point of view in order to definite the inner factors. In part six, it uses the developed countries'financing experience for reference , and puts forward our country's financing strategic and gives the suggestions on how to standardize the listed company's financing behavior.