The Research On Optimization Of Capital Structure And Financial Strategy Of Listed Companies In Hubei Province

From the first stock—"E-Wushang", which listed in 1992, the listed companies in Hubei province have been developed nearly 15 years. Until the end of 2006, there are 65 listed companies in Hubei province, which include 2 B-share companies. The accumulative total amount of stock-ownership-financing is nearly 50,000,000,000 yuan. In this instance, the research of the listed companies' capital structure has theoretical and realistic significance. The purpose of this study is to supply decision-making basis to certain interested parties so as to optimize the listed companies' capital structure and adjust the financing strategy scientifically in Hubei province.Through the review of relevant literature, this thesis analyzed the various influential factors and found the optimal capital structure interval of the listed companies in Hubei province through the factor analysis method. Then it used the main factors as independent variables and asset-liability ratio as dependent variable in regression analysis method to determine the linear regression model and the correlation between capital structure and influential factors. Through the variation of influential factors, it can optimize the capital structure and put forward the financing strategy measures.The full text is divided into five parts altogether. First part: Introduction. This part mainly introduced the article and studies background, the current situation of domestic and international research and the thinking and innovation of text; Second part: the theoretical analysis of capital structure optimization. This part deeply analyzed the concept of capital structure optimization and its theoretical development; Third part: the analysis of the influential factors of capital structure in listed companies. This part analyzed the general influential factors of capital structure and made it indexation. Forth part: the empirical analysis of the influential factors of capital structure in listed companies in Hubei province. This part made the original data in samples dimensionless and standardized. Then through SPSS software, it analyzed the standard value with factor analysis and regression analysis method. Fifth part: the analysis of the financial strategy of the listed companies in Hubei province. This part purposefully put forward financial measures of the listed companies in Hubei province.