Analysis Of Influencing Factors On The Capital Structure Of Chinese High-tech Enterprise In GEM

In the new century, the rapid development of science and technology background, science and technology is the main driving force for economic development. As high-tech enterprises to use science and technology as the main input, output of products with high-tech features, plays an important role in the transformation of scientific and technological achievements. Specific high-tech enterprises so that the operators of high-tech enterprises with high risk, resulting in difficulties in financing high-tech enterprises, capital structure exists bad state. GEM as China’s securities market fresh blood, improve China’s securities market territory, is an important complement to the motherboard market, is an important part of the capital market. However, the GEM is currently in its infancy, development is not perfect, pending further study to improve. Therefore, to explore the capital of the GEM high-tech enterprises and influencing factors, to explore ways to optimize the capital structure, to improve the plight of the development of high-tech enterprises, it is to promote the GEM high-tech enterprises excellent development priority.Firstly, the theory of capital structure were consolidated review. GEM and analyze the characteristics of high-tech enterprises, summed up the current capital structure of China’s high-tech enterprises of the status quo and defects. Then, further factors affecting the capital structure of the sub-macro and micro aspects systematic analysis of the macro factors affecting the descriptive analysis of the microeconomic factors influencing factors on the microscopic aspects of factor analysis Factors Affecting the main factor by then by regression analysis, a linear regression equation. Finally, empirical analysis found that the value of mortgage assets, accounts receivable turnover ratio and firm size is the GEM high-tech company’s capital structure is a significant positive correlation. Targeted to improve the GEM high-tech enterprise development dilemma currently feasible suggestions.