Financing Methods Of Listed Companies And Its Influcing Factors

Financing decisions is an important part of corporate financial activities. Busines s financing selected not only affects the smooth completion of the project to the ent erprise,but also to the long-term development of enterprises,and will have an impa ct on the development of capital markets.The study on financing started early abroa d mainly from theoretical analysis and empirical research.Our scholars made deep r esearch on financing and its influencing factors.Most finding are that our listed co mpanies prefered to issue shares.But research is concentrated before the split share structure reform.After the split share reform tremendous changes in direct financing environment of China's listed companies has undergone.Semi mandatory dividend p olicy implemented in 2008 of China's listed companies has a significant impact on f inancing mode selection.Since the external environment has undergone so much cha nge what kind of financing are Chinese listed companies ?This paper studied listed c ompanies and tested new financing preference of China's listed companies from both theoretical and empirical.The following are the various parts.The first part of this paper introduces research background,research significance and reviews the related literature of the financing preference and influencing factors of listed companies at home and abroad.After,it introduces the research purposes,research frame work, research innovation points and insufficient of this paper.The second part is the literature part of the article,mainly related to the early capital structure theory and modern theory be systematically expounded.The third part of this paper introduces the listed company financing preferences and influencing factors. It included the features of listed companies,the external f actors and companies feature which affected company's financing preference.The fourth part is empirical analysis which included four parts.1.Sample selectio n and data sources.2.Variable definitions and hypotheses.3.Descriptive Statistics.4.Emp irical Analysis.The fifth part of this paper presents conclusions and research limitations.