Empirical Study On Inlfuence Between Finance Structure And Bisiness Performance Of Chinese Steel Listed Companies

Steel industry is a pillar industry of the national economy, and its development in our countryto promote industrialization process is of great significance. Financing structure theory, as themodern company financial theory to the important content, research how to reasonable selection ofthe financing channels, which should be how to determine reasonable proportion of creditor's rightsfinancing and equity financing, to promote enterprise management performance improvement andenterprise long-term health development. Financing structure directly related to enterprise creditors,investors and managers and other users of the rights of the distribution. But the western study ofconclusion can't completely copy to our country, the use of financing structure theory, and grasp themarket economy in our country and the particularity of the enterprise financing structure, will reachmore valuable results. Author selected for state-owned shares dominance of the steel industry as theresearch object, expectation on the reform of state-owned enterprises of BSFLP. This articlethrough the analysis of China's steel industry financing structure of causes, and the mechanism ofaction of business performance, on the analysis of the financial structure on the operatingperformance based on the influence degree, the in-depth study of the background and reasons, tosteel enterprise as an example to discuss financing structure theory in our applicability.Based on the introduction of China's listed steel enterprise financing structure particularity, andby the modern financing structure theory analysis of China's steel enterprises listed on the causes ofthe formation of financing structure, the author works out nearly10years to steel enterprisemanagement performance context. This paper discusses the financing structure of the company'sperformance management efficiency and the internal mechanism, and on the basis of the buildingwith the return on assets and net assets yield to be explained variables, and the leverage of totalassets and equity concentration, the first shareholders held than to explain the variables of such asmultiple linear regression model. The2002to2011years of the listed company data, to the modelwas verified. In this paper, through empirical analysis of the financial structure among the factorsaffect China's listed steel enterprise operating performance, puts forward the listed companies inChina financing structure to optimize and improve financing environment the specific Suggestions.