The Research On The Corporate Effect Of Debt Financing In Shandong Listed Companies

In the background of the opening market environment,financing methods and corporate governance has been closely watched and deeply studied constantly by domestic and foreign scholar,become the focus of the financial field.Financing method is regarded as the foundation of corporate governance,and is closely related to corporate governance.Corporate financing includes two aspects:debt financing and equity financing.Debt financing,as the external financing of enterprises,is not only be used as an alternative to equity financing,it could also have some effects on corporate governance.The research achievements of debt financing by foreign scholars are extremely rich,but China's list companies show special preference to equity financing,so debt financing takes a minimal proportion of total corporate financing,and debt financing couldn't be able to play its proper governance effect in China's listed companies.Using corporate debt financing set as a starting point to explore more effective corporate governance mechanisms and thus greatly enhance corporate value.In recent years,Chinese scholars research on the effects of debt financing of corporate governance,not only theoretically,but also collect accurate and comprehensive data to make a lot of empirical research,which has achieved abundant research results.However,these conclusions are not mature and need in-depth study to form a perfect system.The article first reviews the results from the theory of financing raising institutio n and corporate governance,including the definition and elaboration.It concludes the study of debt financing corporation,which should based on the client-cost theory,the signaling mode,pecking financial order theory,and control rights and residual rights of control theory.From the view of combination of scale of corporate debt financing,expiration,and types,the financing structure could bring different affects of corporate governance.In addition,combine and analyze the actual situation of the overall fina ncing quoted companies in Shandong,and internal structure of debt financing.