China's Listed Companies' Capital Structure - Theoretical And Empirical

This thesis studies mainly the capital structure of the listed company. Currently, the quantity of the listed companies exceeds one thousand. The development of the listed company seems more important. Once the listed company enhances their benefits, the stock markets will boom. However, many listed companies did not gain much profit, even more took great deficit and came to the edge of bankruptcy. One most important reason is the irrationality of their capital structure. How about the status of listed company's capital structure? How to optimize the status? This thesis just wants to answer these questions.This thesis has four chapters. Chapter one comments on the theory and reality about capital structure. This part introduces the main genres of capital structure. Please notice the importance of the MM theorem, which is the theory basement of subsequent analysis. Comparing with the financial structure is another content in this part. Chapter two studies the factors, which influence the capital structure of the listed companies. Chapter three analyzes the several effects such as governance effect and financial lever effect which be produced by the capital structure. Chapter four focus on the optimal methods and the innovation of the capital structure and corporate governance.