Research On The Relationship Between Capital Structure And Business Performance Of Listed Banks In China

The capital structure is the genetic of a modern enterprise. In the present stage, the listed banks of China have achieved great progress in the international competitiveness, but their capital structure still exists many unreasonable places, which constrains to improve their business performance. Therefore, the topic of the dissertation, which researches the relationship between capital structure and operating performance of listed banks in China, has important theoretical significance and practical value.Firstly, the dissertation discusses the background, significance of the relationship between capital structure and business performance of Chinese listed banks and the literature review both at home and abroad as well as its research methods.Secondly, the theoretical foundation of this dissertation is introduced, including the relevance theory of capital structure and the advantages analysis of EVA for the banks'performance. Then, based on the specificity of the capital structure of listed banks, we analyze theoretically the relationship between their business performance and the factors, such as the listed banks'financial leverage, ownership structure and debt structure, and so on.Thirdly, on the basis of the analysis of the first two chapters in this dissertation, we select the relevant data of 14 listed banks in 2007 as objects to briefly analyze the status quo of capital structure and performance, and choose Shenzhen Development Bank as an example of Chinese listed banks to study the status of ownership structure, the structure and performance.Fourthly, in order to give more analysis in-depth to the relationship between Chinese listed banks'capital structure and operating performance, we analyze empirically the relationship using 44 panel data as a non-equilibrium samples of listed banks of China in 1993 -2007. The empirical results show that the degree of concentration of ownership, equity structure, asset size, growth and asset-liability ratio and other factors, all have different degree impact to the operating performance of listed banks of China.Finally, according to the results of empirical analysis, we give some proposals to optimize the capital structure of listed banks, which can achieve the objective maximization of operating performance of listed banks, and put forward feasible suggestions for the listed banks about the optimization to the environment from the for both themselves and external part.