A Study On The Optimization Of Financing Structure Of Chinese Listed Companies

Financing structure is an important aspect of financial theory on modern corporate. It reveals that there are the source of capital, the patterns of capital and the formation of capital in a particular business environment. In most cases, financing structure refers to the ratio between equity finance and debt finance. It involves the financial objectives, the financial methods, the financial costs and the financial risks as well as many of the significant financial problems, ultimately, which will affect the value of corporate. Therefore, the financial decision has already become an important matter of management and decision-making of modern enterprise. Because the most funds through intermediation markets, from a macroeconomic perspective, the capital structure of corporate would involve both supply and demand of funds, which will have a major impact on the development of country's economics.This article firstly reviewed the theoretical system of financing structure of Western, using recent data, using qualitative and quantitative analysis of research methods, financing structure by comparison with the Western developed countries, summed up the financing structure of Chinese listed companies. The Chinese listed companies have been focused on the existence of external finance than internal finance, equity finance than debt finance, expressed strong preferences for equity finance. At the same time, the finance of Chinese listed companies is inefficient. The reason why there is the financing structure of such listed companies in China, first of all, at the macro level, is monetary policy in China closely related. In this article, the financing structure of Chinese listed companies the background of the system is analyzed to explain the use of the theory. At the micro, according to the theory of financial structure model, the influential factors of financing structure of listed companies are analyzed. According to recent data from Chinese listed companies, and concluded the significant factors. Finally, above this analysis, in order to optimizing the financing structure of listed companies, proposed the optimization.Above this analysis, I hopes to not only add some views on optimization about financing problem of Chinese listed companies, but also give some guidance in the practice of corporate finance in China, and ultimately to maximize the value of listed companies.