Research On The Issuse About Capital Structure Of Real Listed Companies In China

The real estate industry enters a high speed development period along with the exaltation of living level per person .The real estate listed company is the leader of the whole real estate profession development is the assurance that the estate profession develops healthily. But the real estate industry appears non-periodic prosperity, their capital structures differ from the normal financing choice . Whether the capital structure or the quality of the real estate companies is reasonable and what influence the estate listed companies ? Because different financing decision -making influences firm value and the allocation efficiency of social resources. So the research on the problem of the real estate companies' capital structure is very significant.The theory of capital structure is very important in modern financial theories. .Many domestic and oversea researchers have made deep theoretical and empirical analyses of factors that affect the capital structure of listed companies. Because of later development of our capital market research about capital structure of Chinese companies is still at primarily stage, especially the research about the quality and influence factors of capital structure. With the data of real estate listed companies, the target of this article is to launch research on combining basic knowledge of finance, management and political economics and using methods such as positive analysis , normal analysis and comparison analysis , and going through the way from basic theory , reality of listed companies to analysis and compare the influential factors to capital structure in China. By the evidence analysis, we discover the capital structure of real estate listed companies is unreasonable, the finance lever is higher , the capital structure is influenced by only factors. Results also show that influential factors to capital structure of real estate listed companies are not stable. Therefore , it is unrealistic to explain the influential factors of capital structure of listed companies with only one theory . Follow that the final result puts forward an effective method to resolve this problem , and provides the theory support for real estate listed companies to optimize their capital structure actively.