The Research On Optimization Of Manufacturing Capital Structure Under The Financial Crisis

Since the 1950s,capital structure is one of the three themes in modern enterprise management. The degree that capital structure impacts on company depeens especially in the financial crisis. Manufacturing is the material basis of national economy and the people's main industry,the root of rejuvenating the country and enriching the people,the important symbol of its technological standards and integral power of the country. So,the research on optimization of manufacturing capital structure under the financial crisis the has profound practical significance.There are five parts in this article. This article firstly reviews studies on capital structure of listed companies at home and abroad. Secondly,discusses the relevant theoretical basis on optimization of capital structure. Thirdly,explores what the capital structure's characteristic should be in the finncial crisis combining with environmental analysis. Then,the paper makes a descriptive statistics of the current of capital structure of our listed companies and problems. On the demarcation of sample,this article makes a empirical analyses of influencing factor of capital structure. Combining with the enterprise performance,through comparing with capital structure of different enterprise performances,propounds what the enterprise should do to optimize the capital structure. Finally,this article puts forward the conclusions and outcomes of this research applications,and points out the shortcomings and limitations of this study,and future research directions in this field.The main features and innovations of this article is as follows: First,on the base of ancestors,the article makes a lot of comparative analysis in respect of empirical analyses,found the gap among different companies through comparison,combining with company whose coporate performance is better,proposes optimization suggestion with vectoringdoctrine; Secondly,in respect of policy proposal,aiming at how the chinese manufacturing industry get rid the low-end of industry chain,changing the manufacturing industry from made in china to create in china,proposing that company should pay attention to technology innovation. Chinese government should increase the spending of manufacturing funding,should reduce the income tax,make enterprise have more money for research.