China's Agricultural Listed Companies Financing Structure And Performance Of Empirical Research

The financing structure has an important link with operating performance and it also affect corporate governance and the stability of the capital market. Reasonable arrangements for the financing structure as a listed company, the problems faced by corporate managers. Domestic theory sector of the company’s financing structure and performance is mainly concentrated in the A-share market as a whole, the concern of the agricultural sector is not high. As a large agricultural country, China’s agricultural listed companies in the number of inconsistent with its position of agriculture as the foundation of its research with a larger value. The adverse effects of removing the differences in the main business of agricultural listed companies as the research object to introduce the financing structure of the financing structure of agricultural listed companies in China now and agriculture listed company and its inherent performance relationship.According to the2006-2010agricultural listed companies financial reporting information, select a total of12indicators from the four aspects of profitability, operational capacity, solvency, development ability of factor analysis, to calculate a composite score of the sample, on behalf of the companybusiness performance. From the endogenous financing ratio, debt ratio, the proportion of equity financing to build the three empirical models through statistical analysis of the relationship between the two cross-sectional data obtained simulation. The results showed that the proportion of endogenous financing and operating performance of listed companies in China’s agriculture was a significant positive correlation; the proportion of equity financing and operating performance is negatively correlated; no significant linear relationship between the proportion of debt financing and corporate performance. Refer to the trade-off theory, pecking classical finance theory, agency theory, structure theory to explain this. Finally, from a macro and micro perspective, based on the empirical results of combination of agricultural listed companies listed on agricultural corporate governance and capital market development recommendations to try to improve the operating results of listed companies of China’s agriculture to provide inspiration and reference.