Research On The Characteristics Of Financing Structure And Optimization Of Listed Companies In Anhui Province

Capital is one of the important factors to the companies when they carry on the production and operation. It is not enough that the companies use them own funds if the companies would develop, they must accumulate a certain amount of funds through some financing means, they can conduct successfully. So, financing is the focus concern of companies.Based on the data of annual finance reports of Anhui province A-share listed companies, the paper firstly analyzed the present conditions of the financing structure characteristics of these listed companies from the stock indicator and flow indicator, we found the debt-to-asset rate of the listed companies is ascent every year, the short-term with-interest debt rate is declined and the long-term with-interest debt is fluctuated quickly every year. Then the paper compared the Anhui province listed companies with the Jiangsu Province and Zhejiang Province, we found the Anhui province listed companies have these characteristics of low debt-to-asset rate and strong refinancing capacity.This paper found the main factors which influence the Anhui province listed companies'financing structure. They include: the low equity financing cost, the imbalance of Chinese capital markets, the difference between the interests of the shareholders, and so on.In the view of the main factors, this paper proposed a series of optimization strategies and suggestions. The following are included: enhance the listed companies'equity refinancing preferences, develop the capital market actively, broad the channels of debt financing, further improve the encouragement systems of executives, strengthen the listed companies'competitiveness, enhance the efficiency of the capital markets.