Corporate Financing Applied Research

Special period in China's transition from a planned economy to a market economy.in order to better adapt to changes in the economic system,the process of the financing system began to experience a transition to a market economy nnancing system.In this economic context.the corporate fmance markct continues to open up the regulation and intervention by the national poliey.but also in the pirocess of financing.corporate finance behavior showed hy the impact of national policy in both the dual roie of-financing methods microscopic analysis of the phenomenon of fewer.China is working to establish and iImprove the financing market.relevant laws and regulations.to the development of the iniegratlon process.but there are still many imperfections,the financing program is not sufficiently standardized.non-rational financing irrational financing structure.and the resulting financing market allocation of resources is inefficient and financing funds to use unreasonable.acconmpanied by the low efficiency of corporate finance.Not perfect in this imperfect finance market.how rarional choice of appropriate means of financing to provide stable funding for enterprise development.is very important to the long-term deveiopment of enterprises.Suppiy of funds for production and operations like enterprise developmet ancd survival of blood.to generate pow er.With the increasingly fierce competition between enterprises.the enterprises can not succeed in the competition will need to continue to expand production scale.and the resulting capital requirements continue Ito increase.Companies need funds through a variety of financing through a variert of financing channels.the conditions of use of their funds.limiting the service life as well as with business financing risk and cost of financing is not the same.What are the characteristics of the funds in a different stage of development needs.how to configure the funds.in order to truly realize the greatest profits in the expansion process.requires cormpanies to consider the various factors to anaiyze the financing to make a choice.This article is based on capital structure theory transaction cost theory and the pecking order theory for the analysis on the basis of analysis of the composition and risk of different means of financing the cost of financing and different means of financing to the corporate capital strucure.combined with the enterprises are facing financing external macro environment and the internal operation.The article is divided into six parts in the structure of the article.three.four,five chapters focus on analysis.theory-based case supplemented.Theoretical analysis and comparison of different financing methods,and then combine the financing environment for real estate companies in the case by the line a comprehensive analysis.The analysis showed that in the choice of financing methods financing environmental impact is very large.and to comply with laws and regulations under the premise financing.business finances options due to legal constraints,the scope of smaller.this time not subject to legal constraints when you can not choose business financing.Financing options,consider a larger proportion of external financing environment.ignoring their own operating characteristics,resulring in corporate finance inrational.No rational grasp of my own situation.the lack of predictive analysis on the industry prospects.the lack of a systematic study of finance theon.the irrational.financing is more common.The contribution of the article:This article financing options from micro and macro analysis,the performance characteristics with the means of financing itself.their own operating characteristics and financing the external environment.General study of the mode of financing from the micro-or macro-layer research.this article will be combination of both corporarte finance decision-making has a certain reference.