Energy Conservation And Environmental Protection Industries Listed Company Capital Structure And Corporate Performance Of The Relationship

<Energy conservation and environmental protection industry development planning> compiled by The National Development and Reform commission jointly with Environmental protection department has been approved by the state council in 2010, November 25th. Planning for the release of energy industry, environmental protection industry and recycling industry provides technology, products and services, and the support of China green economy will promote the formation and development of industry chain. Energy conservation and environmental protection industry is listed as the seven strategic new industry in the file issued by the state council. Thus, whether in the market, or the policy environment, energy conservation service industry will have a bright future.After reviewing existing Chinese and foreign scholars'conclusions, combining the actual situation of China's capital market, I'll select some samples in our energy conservation and environmental protection industries in the listed company's of continuous years, using SPSS software, analyze and discuss the relationship between enterprise performance and the capital structure. This article is divided into five parts:The first part is introduction. Mainly introduces the background and meaning, the thoughts and methods, innovation points and deficiencies.The second part is literature review about capital structure and performance of the company. First, respectively reviews the capital structure and the theory of corporate performance, then summarize the conclusions draw by Chinese and foreign scholars.The third part analyzes the status of capital structure and corporate performance in listed company in the energy conservation and environmental protection industriesThe fourth part is empirical research section. This paper selects financial data as the samples in 5 years in 61 listed companies in this industry.The fifth part is summarized. Introduced the research conclusion, and looks forward to the futureThe article concludes that are as follows:first, characteristic of energy conservation and environmental protection industries listed company's capital structure is asset-liability ratio equals to the average, but current debt ratio is exorbitant, long-term liabilities is too little, and ownership concentration is high. Secondly, asset-liability ratio and the company's performance are related, but pour u-shaped conic relationship does not exist. Finally, the leverage and the company's performance is negatively correlatedDue to the environmental pollution is increasing concerned by the society. Energyconservation and environmental protection industry will develop rapidly, this article is in accordance with The Times and guidance.