Research On Influence To Growth Potential Of The Private Listed Company By Its Debt Structure

With the rapid development of economy, private enterprise develop continuously,and play an important role in the national economy. In the process of theirdevelopment, debt financing is a important channel to meet the private listedcompanies’ demand. Reasonable capital structure affects the enterprise’s developmentdirectly. Therefore, in this paper, the private listed company was taken as the object ofresearch empirical to analysis the impact of debt structure on the enterprise’s growth.In this paper, taking the private listed company as the object of research, analysisthe impact of debt structure on the company’s growth. Among them, to measure thegrowth of enterprises, through the variance factor contribution rate to calculate theweighted average comprehensive index to measure the growth of enterprises; thenfrom debt level, the debt maturity structure and debt source structure to analysis. Theresults show that: the level of debt and enterprise growth is correlated negatively; debtmaturity structure and enterprise growth is positive correlated; the business creditand enterprise growth is positive correlated, the bank loan and corporate growth isnegatively correlated. At last, this paper give four advice: widen the debt financing,make good use use of bonds; adjust the proportion of the debt, to reduce short-termdebt; improving the commercial credit system, reduce the cost of debt financing;strengthen the construction of information and banking reform, improve therelationship between banks and companies.