Empirical Study On The Influences Of The Ownership Structure On The Financing Structure Of Listed Company In The Five North-west Provinces Of China

In these decades, the theory of the influencing factor to the capital structure and empirical research demonstrate the important position in the company developement of financing structure.Ownership structure can be interpreted as the distribution state of controlling power and right of receiving income to match the way theoretically which refer to the structure that company's ownership structure type and proportion dispose. Main factor of the financing structure of listed companies of five provinces in the northwest of forming the present our country in ownership structure. The structural question of the ownership has been the most basic problem in the security market all the time, and one of the most important factors of influencing the financing structure too. The structure of stock right is really the origin of a lot of questions in capital market of our country.This paper adopts the Empirical approach of the real example, on the basis of expounding the fact relevant research results and theory are analyzed, propose the research of the relation supposes, five provinces and 72 listed companies in the Northwest will regard as the sample with 2006 - 2007 between structure of stock right and financing structure, choose the variable, adopt pluralism to return to the analytical method to verify the linear relation of the structural independent variable of the stock right and financing structure. This result of study found: Concentration degree of ownership and level in debt of are shouldered prominently and linearly relevantly; A shareholding ratio and prominent have positive correlation of debt competence in the country, the shareholding ratio of the corporate share and debt competence are prominent positive correlation relations, there are administration and supervision authorities' shareholding ratio and financing structure but the positive correlation relation is not prominent. The suggestion is proposed finally, guidance for realizing the listed company of our country is offered.to optimize the capital structure and draw lessons .