The Comnany Capital Structure’s Influence On Business Performance On GEM

At present,the research on GEM is much about theory,only little about empiricalresearch. This article try to set manufacturing listed companies as the research object afterthe start of the gem and study the key factors of capital structure which impact businessperformance. This is not only good for the healthy development of the gem itself and has astrong guiding significance of business efficiency of listed companies, but also it can beused to guide the investment of enterprise to make effective decisions.This paper consists of five chapters. Chapter1is the general, introduced the selectedtopic background and significance of the full text, the article’s the research method andresearch object, main content and innovation points. Chapter2is theoretical basis.It’sbased on the traditional capital structure theory, modern capital structure theory, the newcapital structure theory review, lay theoretical foundation for the research of this paper.Chapter3gem capital structure and operating performance of listed companies in Chinapresent situation carries on the descriptive statistical analysis. Chapter4is mainly thecapital structure of listed companies in China to do empirical analysis on the influence ofoperating performance relationship. Chapter5for policy recommendations. Based on theempirical conclusion in chapter4, from the perspective of optimizing capital structure,improvement of gem business performance of listed companies in China countermeasuresand Suggestions.This article’s innovation mainly displays in:1. Based on the empirical study usingTobin Q value (Tobin ’s Q) or return on equity (ROE) as alternative indicators of corporateperformance and the two were compared to select the better indicators.2. This article willgem listed company’s capital structure were analyzed, and concluded the effect factors ofperformance significantly.