Research On The Financing Behavior And Capital Structure Optimization Of Listed Companies Of Anhui Province

Accompany with the constant developing of China's economy, great changes have happened in the property rights system, management system and financing behavior of China's enterprises. Resulting capital structure of the enterprises is also having new changes. But how the capital structure of China's regional listed companies now? What factors affect capital structure of the regional listed companies? Is it reasonable? At least at present there is no clear answer. This paper gives a research on the capital structure and its affecting factors and Set listed companies of Anhui Province as an example. On this basis, the author gives specific improvement strategies.This paper first outlined and evaluated the capital structure and financing theory. On this basis, at chapter 4, compared two different financing models: Japan and Germany model, Britain and US model. Then, investigated the status quo of the capital structure of China's listed companies, Finding that the capital structure and the financing behavior of the listed companies in China is inconsistent with the capital structure theory, having its own characteristics. After this, analyzes the external factors and internal factors which impacting the capital structure of the listed companies, At last, gives the empirical Analysis of the capital structure of listed companies of Anhui Province and provides targeted optimization recommendations of regional capital structure.The innovation of this paper: by using the financial data of listed companies of Anhui province of 2007, estimated the coefficient of regression model, Confirms the correlation between the level of debt and the growth, enterprise scale, profitability, non-debt tax shield, and provides corresponding policy recommendations.