| Enterprises become more competitive with the rapid development of Chinese marketeconomy. In order to find more opportunities, enterprise financial strategy are commonly used,and channels of financing business are diversified. Then financial leverage attendant,companies can be better by reasonable choose the financial leverage that adapt to thecompany. Thus it must be significant to decide the overall level of financial leverage.Firstly, the background and purpose of research status at home and abroad studies arebriefly described. Then financial leverage theoretical research literature was reviewed, itcomes from three parts which are the concepts of the overall level of financial leverage,financial leverage effect and financial leverage factors. These are theoretical foundation ofempirical research methods and index selection which service in later chapters. The third partintroduces the text data sources. Evaluation and impact indicators are clearly evaluated, it isbeneficial for a detailed description of the basic which are the assumptions and methodsdesigned to permit research, empirical research procedures and purpose. The fourth part is thefocus of this study, mainly to make empirical research for Chinese listed companies’ financialleverage situation when time from2001to2013. This is a distribution statistical descriptionof Chinese listed companies’ financial leverage on overall level. Then planned to make atime-division of the financial leverage on overall level. From the division, recently can beselected, in the recent time financial leverage and financial leverage industry level effects canbe studied. After understand these, a multiple regression model was built. From the multipleregression model factors that affect the overall level of financial leverage can be interpretedfrom the macroeconomic. On this basis, the fifth part of the text to make a summary, and thecorresponding level of financial leverage control strategies were proposed based on empiricalfindings. |
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