An Empirical Study On The Retail Industry Listing Corporation Of Relationship Between Debt Structure And Enterprise Value

Since the Theorem of MM emerging, capital structure problem has been a hot issue that is both theoretical problem and Empirical Study. Liability is an important part of corporate capital structure. The choose of liability structure is critical to company, because it not only affects the financing costs and the market value of the Enterprise, but also is closely related to the corporate governance structure and the macro-economy. The liability structure affects the company’s financing costs and the principal-agent relationship and the governance structure and so on, eventually affects the maximization of the enterprise value coming into true. The aim of modern firm is realizing the maximization of the enterprise value, but can not be separated from the investment and financing decisions for the purpose of realizing maximization of the enterprise value. This paper will retail for the samples taken empirical research method to find the value of debt structure and corporate relations. By setting variables, select data sample, a model and respectively from the level of total debt, debt time limit, the types of liabilities three aspects to study the influence on corporate value, so as to prove the relationship between debt structure and corporate value. After the general level of debt and in the study will not only current liabilities included within the scope of liability of corporate debt and will be divided into six types according to the creditors from the liabilities of the internal structure of debt financing is discussed in terms of how it affects corporate value, which is the article innovative place.