Research On The Capital Structure Of Power Industry Listed Companies In China

Capital structure in Western countries has developed into a more mature theory toprovide a theoretical basis for the analysis of this article. However, foreign capitalstructure theory is founded on a well-developed commodity economy based on it is thegovernance structure is more perfect, perfect capital markets, adequate and stablefunding sources for the premise. However in China, Western countries, the theoreticalbasis of lack of functioning properly, basically do not have the conditions of theforegoing premises, whether it is appropriate or the extent to which suitable for China,but also the need for specific analysis.Domestic scholars on the capital structure research, the vast majority of listedcompanies as a whole for the object of study, the conclusions of the study is not the same,sometimes even opposite, we need to use different research methods and data to verifythe various conclusions and further research. In addition, the current domestic researchscholars rarely take the capital structure of listed companies to the power industry as theresearch object.Taking into account the particularity of the electricity industry in the nationaleconomy in which the status and importance, select the power industry in Shanghai andShenzhen listed companies on the basis of domestic and foreign scholars to study,through its analysis of the characteristics of the capital structure and capital structuredeterminants of capital structure and company performance, empirical studies attempt tosummarize the power industry in China listed the causes of the company’s capitalstructure, and to explore the range of the existence of an optimal capital structure iscompared with the capital Structure optimization of capital structure, improving powerlisted business performance measures and suggestions.