Empirical Research On Influencing Factors Of Capital Structure Of Listed Company

Capital structure is regarded as the proportion relationship of equity capital and debt capital in enterprises, capital structure is a centralized reflection of shareholders' rights and obligations, which is also an important element of financial management and capital operation in enterprises. Since MM theory was put forward in 1958, the economic circles have been paying extensive attention to the theory of capital structure. Although some scholars in economics in the west and China have theoretically and empirically researched the factors which can determine the choice of capital structure in enterprises. Tremendous achievements were made. due to the economic complexity and peculiarity in various countries , differences on methods and importance of study, The results of empirical study are not completely consistent with theory, sometimes even violate the theory of the capital structure. Based on predecessors' research, combining our country's reality, the article makes a certain analysis about enterprise's influencing factors of capital structure, then takes listed company of information technology industry with more sufficient competition market as an example to carry on the empirical research, offering the suggestion of optimizing the capital structure. According to article, this text is divided into five parts:Part one, Introduction.The part introduces background and research meaning of listed company's capital structure, article structure, method on empirical analysis and innovation.Part two, Literature review of the capital theroy. This part introduces western countries' capital structure theory, reviews the domestic and international achievements on empirical analysis of capital structure's influencing factor, preparing for the below.Part three, The current situation of capital structure of listed company in our country and influencing factor are stated. Then analyze and recommend the main influencing factors of capital structure in company.Part four, Empirical analysis of Capital structural influencing factors of listed company. We take listed company of IT trade as the research object, using Multi-variable Regression model and Correlation Analysis to carry on the reaserch and explain the results.Part five, Conclusion, Suggestion and Prospection. Draw some conclusions through the analysis of the results to the listed company of IT trade, and put forward the suggestion.