Research On The Relationsipe Between Captial Structure And Financial Competitiveness Of China’s Machinery Listing Corporation

Theory of capital structure is one of the important contents of the modern financial management, The research of capital structure under economic new normal has appeared the characteristics of the theory of corporate governance and the theory of enterprise competitiveness. Capital structure has an important influence on enterprise’s financing ability, development ability, competition ability and overall development pattern. Good capital structure is not only conducive to improving the efficiency of corporate governance, but also the effective use of debt financing of the financial leverage to improve the overall competitiveness of enterprises.Based on the previous studies, this paper attempts to explore the relationship between capital structure and financial competitiveness, and tries to find a suitable way to improve the financial competitiveness of enterprises. Based on the theoretical analysis of the relationship between capital structure and corporate financial competitiveness, put forward the research hypothesis, design research methods, establish of capital structure and financial competitiveness evaluation index system. By using descriptive statistics and structural equation modeling method, the relationship between capital structure and financial competitiveness is analyzed.The manufacturing industry is the leading industry in our country, and the mechanical listing corporation is an important part of the manufacturing industry. Using 2010-2014 years of financial information disclosed by the listing corporation in China, this paper makes a statistical analysis and Empirical Study on the relationship between capital structure and financial competitiveness, and gets the conclusion: The capital structure of China’s machinery listing corporation has a significant positive impact on financial competitiveness; financial competitiveness has a significant positive impact on the capital structure; there is a significant interaction between capital structure and financial competitiveness. Finally, according to the conclusions of theoretical and empirical research, this research proposes the optimization of capital structure and financial competitiveness of the listing corporation.