The Capital Structure's Influence For Financial Governance Efficiency Of China's IT Listed Companies

In recent years,because of the development of the listed IT companies,the research of all aspects of the information technology listed companies also gradually in-depth.At the same time,corporate governance is a hot research topic in Chinese academic circle as the research progressed to produce more and more.Financial management does play a much more crucial role in corporate governance,both on the study of corporate governance,the study of financial management is of great significance to the company.Research for financial management,the efficiency will be not ignored.The efficiency is a common research topic of management science and economics,evaluation and research on the efficiency of the financial management to the development of a company even the effect of corporate governance evaluation has important significance.To study the capital structure of the listed information technology companies and its theoretical achievements have a deeply effect on the development and evaluation of the listed IT companies.The current capital structure of the listed information technology companies' research has produced a preliminary theoretical results.So if the capital structure of the listed information technology companies will have influence to the financial governance efficiency.This article will be in reference to the listed IT companies' financial governance efficiency and give some advice accordingly.The results of this paper : the proportion of ownership concentration and the percentage of managerial owners' shares has a significant positive effect on financial governance,while the percentage of equity balance and the percentage of state-owned shares doesn't have clearly effect.Current liability ratio and commercial credit liabilities has a significant positive effect;bank borrowings and corporate bonds are negatively affected.The proportion of property rights has a positive correlation.