Research On Influencing Factors Of The Capital Structure Of China’s Listing Companies

Study on the capital structure of the listing corporation has been an important research topic in the accounting field.It is an important role on listing corporation and China’s market economy and the development. For example, it can optimize the capital structure, reduce financing costs, reduce operating costs, improve economic profit and keep the company’s long-term, stable and sustainable development, it also has an deeply influence on China’s market economy and the development of national economy. Our country’s research on capital structure of the listing corporation has a big gap with the western developed countries, because the development of market economy in our country starts relatively late and the development of the capital market and the stock market is still not perfect.The western capitalist countries have a deeply research on capital structure of the listing corporation. Especially since the MM theory was put forward, the western capitalist countries have a deeply research, such as the trade-off theory, agency theory and asymmetric information theory by relaxing the assumption. However, the western capitalist countries’research of capital structure depends on western developed capital market and stock market, which has a great gap with our country, therefore, we can’t use the research of western developed capitalist countries directly.Based on this research background, the paper has a deeply and perfect research on the capital structure of the listing corporation. First, this paper introduces the basic theory of the capital structure of the listing corporation, including the definition, theory, characteristics, evaluation index and standards of judgment of capital structure. Second, this paper introduces the basic theory of artificial neural network model, introduces the theory and calculation of BP neural network model.The third, this paper has a research on the factors, which affect the capital structure of the listing Corporation, the paper dig out the factors through two aspects:external and internal, and then the paper has carried on the statistical and qualitative analysis; The fourth, this paper constructs a BP neural network model, and has an empirical study on listing corporation capital structure, identifies the internal relations between factors and capital structure,and then has a forecast about capital structure.The fifth, combined with the research results of this paper, we put forward the corresponding suggestions on optimizing the capital structure of the listing corporation.