Financing Structure Development Of Small And Medium-sized Board Listed Company Under Enterprise Life Cycle

The development of small and medium-sized boards of listed companies is one of themain engine of economic development in China, on China’s economy will play an importantrole in the development in the future. And the problem of small and medium-sized boardlisted company financing structure has been hampering the enterprise’s long-termdevelopment, in order to improve the competitive advantage of small and medium-sizedboards of listed companies, every company must get the financing structure mentioned theheight of strategy.In this paper, based on the enterprise life cycle, the biggest difference with other thesis isdivided into the growth period, mature period, diversity period, and under the condition of thedivided into four stages of the hypothesis. Then analysis under different life cycle stages, therelationship between the financing structure and its influence factors, whether there is adifference, form the reason for the difference.This article firstly discusses about the financing structure and the premise of enterpriselife cycle theory, then selects38small and medium-sized board listed firms in2004foreffective samples, and selects the data for calculating and processing, using multi-indexcomprehensive value method divides the growth period, mature period, diversity period.Finally, this article defines the relevant variables, the different life cycle stages of the financialrisk and financing structure has carried on the correlation analysis, and gives the finalconclusion and Suggestions.