Empirical Study On Determinants Of Capital Structure Of Listed Brokers

Capital structure refers to the ratio between equity capital and debt capital of corporates, it played a crucial role in the process of financial management and capital operation of enterprises. Many domestic and foreign scholars have studied the factors affecting enterprises’ capital structure, and got fruitful results to some extent. Based on the theoretical analysis results achieved, the paper studied the current situation of the capital structure of listed brokers, and pointed out the existing problems, and then further explored the factors affecting the capital structure of listed brokers, and finally, made constructive suggestions about the capital structure optimization based on the results of the analysis.In terms of the structure of the article, this article is divided into five parts:The first part is introduction. the background and significance of this study are described, domestic and foreign researches on factors that influence capital structure are summarized, and finally, structural arrangement of this article, innovation and research methods used are described.The second part, status and its influence factors analysis of capital structure of the listing broker. Capital structure status of the listing broker was analyzed, its shortcomings were pointed out, and then the paper illustrated the necessity of research on the influencing factors of capital structure.The third part, based on the existing domestic and international research on the impact factors of capital structure and the analysis of development status and influencing factors of the listed company’s capital structure, the paper determined the explanatory variables and relational assumptions, and then established the regression model.The fourth part is empirical analysis. Exploiting descriptive statistical analysis, correlation analysis method and multiple regression analysis, the paper studied the factors affecting capital structure of the listing broker.The fifth part is conclusions and recommendations. After the focusing analysis and empirical analysis, referring to the analysis data and the analysis results, the paper made useful suggestions about optimizing the capital structure of listing broker.