The Optimization Research On Capital Operational Structure Of Listed Companies In Henan Province

With the development of market economy, the capital markets are growing fast, the status of fund management in business management is becoming more and more important. Reasonable capital operational structure can create the highest economic benefits at the lowest cost of fund. With the rapid development of China's capital markets, enterprises'capital operational management is becoming increasingly prominent in the enterprise management. The optimization of capital operational structure of the listed companies have a positive and far-reaching significance on China's economic development and the improvement of capital markets, and is "a required course" for improving compony's competitiveness in market.This thesis chooses the listed companies in Henan Province as the research object, and there are five parts. The first part describes the research background and significance of this article, and the literature review at home and abroad about the capital operational structure, presents the logie sturcture and contain of this paper, explains the research methods and innovative points. The second part defines capital structure, capital operational structure, and other related concepts in detail, and reviews and summarizes the optimization theory and objectives of capital operational structure simply. On the basis of the research results at home and abroad, the third part collects financial data of the listed companies in Henan province in recent years. Based on a large amount of data, this part analyzes the capital operational structure of the listed companies in Henan province in different years and different companies, mainly involving the situation analysis of capital structure, debt's internal structure, asset structure and asset quality, in order to find the main problems of capital operational structure existed in the listed companies in Henan procince. The fourth part specifically lists the main internal and external factors which affect the company's capital operational structure, and uses factor analysis and multiple linear regression creating mathematical model to find the the main influence factors, based on 2004-2008 annual report data of the listed companies in Henan province. This part finally explores the reason of the existent problem of capital operational structure in Henan province's listed companies. After the empirical analysis, the fifth part proposes the countermeasures and proposals about how to optimize capital operational structure of the listed companies in Henan province. This thesis puts forward some practical solutions primarily from two major aspects, which are increasing levels of internal management and improving the external environment of the fund operation.