Research On The Influence Of Financing Structure To Business Performance Of China Family Firm Listed-companies

Since the opening and reform policy has been implementing, with the raising economy of china. Chinese family firms have been making a sharp rapid development, nowadays, Chinese family firms are standing at the key period of growing. How to improve the structure of governing and financing, to guide family firms to sustainable and healthy develop becoming a issue which needs to be resolved urgently. During the process of the development of family firms, financing problems are the bottle neck for their development. The different structure of the financing of the businesses have different effects on their performance, to our families, how to adjust the structure of financing to achieve the goal of financing to guarantee the good performance of firms is the root for finance. So, discussing the effect of structure of financing of family firms on the firms'performance is the premise for resolving the financing problems for Chinese family firms.The article considers those listed family firms as the study object, choosing the ratio of internal financing, equity financing and debt financing, to give guidance for the structure of financing of family firms .Choosing 12 indexes which can stand for the firm's business effectiveness from the financial data of those listed family firms, to establish an index system for evaluating the business effectiveness of those listed family firms, and using the factor analysis method to work out the operating performance and value of those listed firms separately. Then treat the performance and value as the explained variable, and treat the structure of financing variable as the explained variable, a regression analysis for both of the issues to make a final conclusion. There are no obvious correlation between the he ratio of the internal financing, the ratio of equity financing, and business effectiveness, but there are obvious positive correlation between the ratio of debt financing and comprehensive business effectiveness.Finally, according to the problem which exists in the aspect of Chinese family firms'financing, proposes the advices how to improve the financing performance of Chinese family firms.