Research On The Relationship Between Financing Structure And Business Performance Of The Strategic Emerging Industry

The United States sub-loan crisis, in2010, have had an impact, not only the financial market disturbance, but also affected the real economy. The battle for the commanding heights of the strategic emerging industries has become the common choice of the world’s major countries. Especially in our country, is in a critical period of economic restructuring, the development speed and scale of the strategic emerging industries fundamentally determines our country’s international position and overall competitiveness. The strategic emerging industries’choice of financing ways affects its financing structure, which will have an important impact on the company’s operating performance. How to guide and adjust the financing structure and security company performance plays an important role in the healthy development of strategic emerging industries.As the main direction of the industry development in the future, strategic emerging industry is the focus of theoretical extent and practical extent recently, discussion related to strategic emerging industry definition, characteristics, the supply of funds and regional selection etc. But the related research from the micro aspect of strategic emerging enterprises is relatively rare. In view of this, this paper choose the strategic emerging industry company as the research object, use listing Corporation’s financial data, and study the influence of financing structure on corporate performance of companies.First this paper view of theory, this paper analyzed the existing research on the financing structure and corporate performance briefly, teased out the microcosmic mechanism of relationship between financing structure and business performance, determined the corporate governance effect of financing structure is an important factor to promote enterprise performance; Secondly, after making sure of the denotation and connotation to strategic emerging industry, this paper are summarized the developing situation of strategic emerging industries; finally, selected for empirical analysis from two aspects of debt and equity structure. Based on the analysis results, to optimize the financing structure of China’s strategic emerging industries company and make relevant recommendations.By means of theoretical and empirical analysis, the paper draws the following conclusions:By a single means of debt financing and high-risk of corporate itself, debt constrains have not been effectively play in strategic emerging corporate; Ownership concentration has significant effect on the development of strategic emerging industries. Concentrated ownership does not strengthen the controlling shareholders embezzlement. Cause of decision-making power concentrated, it enhanced decision-making efficiency and strengthened the supervision of internal agent.