Empirical Research On The Financing Structure Of Listed Retail Companies In China

With the development of national economic, China's retail industry has become more and more important and it has become a leader to guide the production and consumption sectors. The retail industry is an important tool for expanding domestic demand in our economic society and Plays an important role in national economic development. With the development of economic system and financial reform of our country,the financing system and financing structure of the enterprises of the retail industry has been changed greatly. In this case,we only know the current situation of the financing structure of the retail industry correctly and grasp the main factor that influences financing structure of the retail industry,and we could choose financing way of the enterprises rationally and form the optimum financing structure.According to financial data of the listed company of retail industry,this paper studies the current situation characteristics of the financing structure of the listed company of the retail industry systematically and deeply by taking the financing structural theory as the theoretical foundation,and regarding financing structures of 53 listed companies of retail industry as the research objects, and employing comparative analytic approach. We can come to the conclusion that financing structure of the listed company of retail industry exist strong preference to equity finance, and the structure in debt is unreasonable, and the level of the current liability is generally on the high side, and the level of the asset-liability ratio is on the low side and the downward trend. we studied about the financing structural influencing factor of the listed company, as to the factor of influencing financing Structure of the listed company of retail industry,this paper takes 53 listed companies of retail industry in Shenzhen and Shanghai as sample of studying and uses empirical analysis. On the basis of this conclusion,we discuss the reason thoroughly that financing structure of the listed company of manufacturing industry exists strong preference to equity finance and the structure in debt is unreasonable by combining actual conditions of the capital market of our country and capital cost and profit ability of the listed company of manufacturing industry. Finally,on the basis that we analyzed the real example result deeply we come up with some suggestions on optimizing financing structure of the listed company of retail industry by combining the reality of our country and taking company pursuing maximum of value as the final goal,for example,optimize the structure of stock right of the listed company and develop bond market.