Research On The Impact Of Debt Financing On Corporate Performance

The comprehensive treatment effect of debt financing has been the focus of academic circles.How to choose the way of debt financing,so that the performance of the enterprise to achieve the optimal level of corporate managers and economists at home and abroad are generally concerned about the problem.Debt financing is an important external financing way,which is related to corporate financing costs and profits,and through the signal transmission affects the external investors,and then the impact on the enterprise performance.In China capital market,the listing Corporation prefer to equity financing,debt financing lags behind in equity financing,debt performance is invalid,so the study of the impact of corporate governance of debt financing and performance of the listing Corporation has a positive meaning to protect the interests of creditors and investors.IT enterprise is one of the new pillar industries of our national economy,its development trend is affecting the overall situation of our national economy.Therefore,the research on the relationship between debt financing and corporate performance of the listed companies is not only a reference value for IT enterprise financing decision,but also helps to achieve the goal of the listed IT enterprise,which has a certain significance to promote the development of our national economy.This paper first introduces the financing structure and enterprise performance of the relevant theory,and then to the financing structure of China's listed companies IT corporate debt financing structure and financial performance of the relationship as a research focus,combined with China's listed IT enterprise financial statements data,from the overall size of the debt,debt maturity structure and debt structure of the three aspects of the data,using the least squares regression analysis and regression analysis to establish a linear regression model,the listed IT companies with different debt financing structure and financial performance.The results show that the asset-liability ratio of our country's listed IT companies,long-term debt,short-term debt,corporate bonds,bank loans are negative correlation with corporate performance,among them,the short-term debt than long-term liabilities are more significant influence on enterprise performance reverse,the negative impact of bank loan on business performance than corporate bonds.The study conclusion shows that our country listed enterprise IT didn't take the positive effect of debt financing.Therefore,this paper proposes to change the operating performance of listed companies,changing management idea,improve the ability of endogenous financing listed IT enterprises in China,the relevant state departments should create a good financing environment for the listed company,strive to cultivate corporate bond market,and improve the liquidity of corporate bonds and other related Suggestions optimizing the governance effect of debt financing in our country.