Comparative Study On The Relationship Between Financing Structure And Corporate Performance

The financing structure theory is generally accepted that reasonable financing structures can improve the performance of corporate.The article mainly choose OCT A and CYTS as the research object,using the knowledge of financial management to select the appropriate financial indicators,analysis the financial statements of the two listed companies from two aspects of performance and financing structure.Using principal component analysis(PCA)to analysis the performance indicators,and get a comprehensive performance indicator,its main function is to describe the enterprise's overall management level and profitability.Using linear regression model to analysis the correlation between corporate performance and financing structure,through empirical analysis found that the two enterprises' internal financing and performance have a positive relationship,however relationship between external financing and performance of OCT A is negative,while the relationship of CYTS is positive.The two enterprises' debt deadline and financing structure are negatively related to their performance.So the enterprises should pay more attention to the use of internal financing,balance the proportion between the stock financing and debt financing,attach importance to the role of commercial credit in financing,select diversified financing channels.Through the study of listed tourism companies and analysis the correlation of their financing structure and corporate performance,put forward suggestions to optimize the financing structure of listed tourism companies and improve their business performance,and then the tourism industry will have a healthy development.