Analysis On The Relationship Between The Capital Structure And Corporate Performance Of Agricultural Listed Companies

Agricultural issue has been the important aspects to which the governments pay attention. According to recent No.1 document, Three Rural Issues have been put in the first place by the government, because the development of agriculture is related to the continuous growth of national economy. Central government No.1's document in 2014 has stressed that our country should strengthen the fundamental position of agriculture in national economy. Agricultural listed companies are representative of the developing status of agricultural leading enterprises, which are the advanced form of agricultural production. Besides, they are the effective way to financing from the capital market, the unique form of the combination of agriculture and stock market and the important ways to realize the sustainable development of agriculture.However, although the government has recently been continuing to put more funds in agricultural listing Corporations, the overall economic profits are still not high. Compared to other sectors of the listing Corporation, it is still a big gap. The company's capital structure is the embodiment of the rights and obligations of the enterprise owners, and it indirectly reflects the business decisions, which have great impacts on operating efficiency of the company. Thus, this article starts from capital structure, and then studies the relationship between the capital structure and the management benefit, aimed at understanding the causes of restricting the agricultural listing Corporation to improve performance. After that, the article will put forward countermeasures and suggestions to improve the operating performance of capital structure.Based on the theory of the capital structure and business performance, the article calculates the statistics of agricultural listing Corporation financial data from 2012 to 2014, which has been used to anal size the status quo of the agricultural listing Corporation business performance and capital structure. Then the author use asset liability ratio, current liabilities ratio and ownership concentration as the evaluation index of the capital structure, and the rate of return on net assets is an evaluation index of operation efficiency. The article regards the growth of the company and the company scale as control variables, and then establishes the econometrics model of index. The methods used to analyze is SPSS19.0 software. It aims at revealing the relationship between capital structure and business performance of China's agricultural listing Corporation. Finally, we will put forward some reasonable suggestions and Countermeasures.