Study Of The Performance And Share Capital Structure Of Listed Companies Of Wine Industry

As is well known that the financial crisis ,which have an inferior loan crisis happened in the United States as a fuse ,have brought the global economy a huge shake, broken global economic levers, at the same time, its effects are magnified, the shock has made China that is in the other side of the ocean inevitably felt tense, by unanimous, real estate, financial services, tourism and other sensitive industries are firstly affected. Besides, China's capital market has confronted a great impact , especially, the downturn of stock market has became more and more severe. so How corporations adjust its structure in order to reduce the impact the financial crisis have brought is particularly critical at this time. China's wine industry was in the health situation, and maintained a healthy tend of development. Analyzing the relationship of share capital and corporation performance and optimizing its capital structure have a strong practical significance in the current economic situation.There are many domestic documents studying the relationship of share capita] structure listed company and performance, but the number of documents studying the relationship of share capital structure and performance of the listed company in wine industry is relatively small, but also for performance, most of them make measurement with ROE or other single profit.Therefore, this article has studied the capital stock structure and achievements relations on the basis of the formerly technique , and firstly have used the factor analytic method to selected three common factors of the six targets which affect the enterprise capital stock structure .These three factors decide the enterprise the capital stock structure separately from three aspects which are the stockholder's rights attribute, the capital stock scale and the stockholder's rights centralism degree. Secondly it has used the principal components analytic method, and synthesized two enterprise profit ability financial target to one enterprise achievements overall target, then used theirs degree of contribution as the weight to obtain the score of enteiprise comprehensive achievements , then taking it as the factor variable and taking the enterprise capital stock structure' three aspect factors as the independent variable to make the regression analysis. Finally we can obtain the conclusion of the wine company which come to the market and the company achievements .The demonstration result indicated that, The Wine business' stockholder's rights centralized in the capital stock structure .And in fact there is the phenomenon of the major stockholders to control stock; The circulation stock and the legal person stock proportion is quite close and the difference is not very big; The difference about each company's capital stock scale is quite obviously; comparing the white liquor profession with the non-white liquor profession, the first major stockholder owns higher proportion stocks, and the stockholder's rights are more centralized. In the capital stock structure and the company achievements relational aspect, the company achievements and the stockholder's rights centralism degree is proportional, with the capital stock scale present correlational dependence, is being connected with the legal person stock proportion, with circulation stock proportion inverse correlation. Finally on the basis of the conclusion, linking the practice and analyzing reason this article propose some advice of optimizing Our country Wine business To be listed capital stock structure of listed companies of wine business in our country.