The Empirical Study On The Relationship Between The Asset Structure And The Performance Of The Listed Companies In China

Reasonable asset structure can guarantee the smooth implementation of production management of enterprise, which also can realize the financial management objectives of enterprise. The current theories of financial management are mainly discuss the capital structure, but little in the research of asset structure. At the same time, the investment decision of the investor also more analyzes the operation achievement of the public listed companies, but little in the asset condition of the companies. Actually, from the angle of the resources condition and the productivity essential factor, the asset structure reflected the throughput of the enterprise. Through the analysis of the indicator about the enterprise asset structure, which can reflect the asset deploy condition and the management characteristics of the company, operation condition of company.This paper is having analyzed domestic and international documents, that the asset structure theory and relationship of companies performance as foundation, select the more important indicators of asset structure, analyze that influence for our public listed company performance. Study effective sample is from four industries of the 642 listed companies between 2003 to2005 years, through component analysis gained performance indicator, which as the dependent variable, make the asset structure as independent variable, separately inspect the correlation between the different industry's asset structure and the integrative performance, and find out that there are different influences in different industries. Thus prove that the reasonable collocating fund, optimizing asset structure, improving the whole asset function, what the important approach to boost the company performance.Finally, based on the theoretical analysis and the results of the empirical study and in combination with the asset structure characteristic of our countries modern enterprise, this paper put forward some helpful opinions and suggestions to the optimizing of the asset structure and finance management.