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Optimization Based On The Sustainable Growth Of The Capital Structure In The Financial

Posted on:2013-06-09Degree:MasterType:Thesis
Country:ChinaCandidate:Y CaoFull Text:PDF
GTID:2269330374963282Subject:Accounting
Abstract/Summary:PDF Full Text Request
The capital structure is a very important and complicated issues in the financial theory, it is theconcentrated reflection of the rights and obligations of the enterprise stakeholders,which have asignificant impact on the corporate governance structure and even the enterprise value, reasonablecapital structure of corporate behavior norms, and to improve corporate value. Changes in capitalstructure is often used as passed to outside investors signals about future earnings expectations. Thetheory of capital structure can not only reveal the intrinsic relationship of the company’s capitalstructure and corporate performance and corporate governance behavior and can provide atheoretical basis for the company’s capital structure decision-making, investment and financingdecision-making and guidance.With the continuous development of China’s capital market and enterprise value maximizationhas been an increasing number of listed companies as a corporate goal to maximize the value offinancial understanding of sustainable growth is usually financial. Coal listed companies as a pillarindustry in the energy industry plays a very important position in China’s energy industry, its capitalstructure is an important aspect of the corporate governance structure. By acting on the mechanismof corporate governance, capital structure does influence the company performance have someimpact. In the end whether the capital structure impact, but also how it affects the performance ofthe coal listed companies, in order to maximize the enterprise value of corporate finance forsustainable development, how to optimize the capital structure of enterprises, it will be the maincontent of this study. The paper consists of six chapters content.The paper consists of six chapterscontent:Chapter I: Introduction. This part introduces the research background, research, researchideas and innovation of this paper and shortcomings.Chapter II: definition, development and influencing factors of the structure of the basic theoryof capital structure, as well as classic capital structure theory, be extracted from the revelation ofthis article.Chapter III: The discourse on sustainable financial growth. This section introduces theconcept of sustainable growth in financial and financial classical model of sustainable growth, whilegrowth indicators were discussed and analyzed.Chapter IV: Financial sustainable growth with the basic structure of the relationship. Oncapital structure optimization based on the path and strategy for sustainable growth based onfinancial analysis and research.Chapter V: Conclusions and limitations. Including the conclusion we draw the main conclusions and recommendations, as well as the main limitations and future research direction.The commencement of this study will follow the "theory-case studies-theoretical summaryof the research ideas. At first it introduces the sustainable growth of the capital structure andfinancial theory, and financial capital structure optimization based on sustainable growth path andstrategy analysis and research, and to select appropriate case studies, targeted to implementationand improvement of policy recommendations.Theoretical explorations and case studies to closely combine, the use of case analysis, not apurely theoretical of theoretical research and practice in close contact. On the basis of sustainablegrowth in the previous capital structure theory and financial theory research, the theory of capitalstructure and financial sustainable growth in the overall framework of the theory into the enterprisedevelopment, through the theoretical part of the study, as well as sustainable financial growth Thestarting point of Optimal Capital Structure A coal enterprises in the analysis and to identifystrategies and measures of capital structure optimization, in order to bring some guidance andreference to the concrete practice of the other coal companies.
Keywords/Search Tags:Capital structure, financial sustainable growth of coal enterprises
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