Based On The Enterprise Life Cycle Of The Capital Structure And Risk Analysis

Capital structure and the enterprise life during the week of the relationship between financialmanagement theory and enterprise belong to two disciplines organization theory of cross fields.This paper comprehensive use of multidisciplinary thought and theory, discusses the theory andempirical study adopt the method of combining the life cycle of the enterprise and the capitalstructure and the relationship between risk explorative study is made.First of all, this paper reviews the research topic selection background, significance,experience and the train of thought; Second, reviewed the related theory of development process;Finally, based on the Chinese manufacturing data of the listed company, and screened410listedcompanies as the sample of empirical analysis, stepwise screening method obtained respectively ofrapid growth, growth, maturity and recession four life cycle stages of the linear regression model,and then to the four different enterprise life cycle stages of the capital structure and risk comparisonanalysis.This paper empirical analysis of Chinese manufacturing industry is the conclusion of thecapital structure of listed companies in four life cycle stage choice there were significant differencesin various phases of the influence factors of the capital structure is different, and each stage of therisk collocation also is different. From this, it puts forward some will cycle to the capital structureof the embedded factors in the course of analysis, enterprise in the dynamic to maintain areasonable capital structure, give enterprise healthy monetary flow, thereby better guard againstfinancial crises.