Optimization Research Of Capital Structure Of Agricultural Listed Companies Based On Dea

Agricultural listed companies are relatively advanced enterprise organization form. Listed agricultural enterprise is the main channel of agricultural modernization in our country. Through the form of listed companies, agricultural production resources are effectively integrated and give full play to the advantages in production. Agriculture listed companies in our country can improve the capital structure. At first, we change the unreasonable capital structure, so that we can change China’s agricultural listed company governance structure. And then, we can change the enterprise’s performance. This is the meaning of the research.The dissertation summarized existing research results and disadvantages by review the domestic and overseas literatures. According to the existing research, the rate of assets and liabilities of agriculture listed companies in China is low, debt structure is unreasonable, non-current liabilities ratio is low, internal financing ratio is low, equity structure is not reasonable. In this dissertation, some of the conclusions also confirm the above research conclusion. In the era of knowledge economy, technology and personnel factors impact on the economic development prominently. Human capital is very important to promote the healthy development of China’s agricultural listed companies. Therefore, the traditional capital structure theory can not adapt to the requirement of era development. Study the capital structure problem of Chinese agricultural listed companies must take the influence factors of the human capital.The study discusses the concept of capital structure and discusses the thinking of capital structure theory that consider human capital.The study defined agricultural listed companies clearly and analyzed the basic characteristics of agricultural listed companies capital structure. Using data envelopment analysis method, through empirical research, analysis the capital structure factors that influencing the efficiency of agricultural listed companies. Data envelopment analysis method can do very good analysis on the agricultural listed companies’capital structure problem from the view of capital input and output efficiency.According to the result of model calculation, make full use of the return to scale, the study use slack variables to explain the problems existing in the agricultural listed companies capital structure. The study optimize capital structure by reduce proportion of redundant capital index in the total capital. Specific measures for improvement on capital structure are given to every agricultural listed company in the sample based on previous analysis.