The Impact Analysis On The Relationship Between Capital Structure And Corporate Performance Of Renewable Energy Listing Corporation

Recent ten years,with the traditional energy resources consumption gradually,all of the countries are purstuing renewable energy industry."The eleventh five years" period,China gradually developed into a big country of manufacturing solar and wind power industry,development speed ranked first in the world.However,renewable energy develop in China is not smooth,experienced ups and downs.Renewable energy industry still has a broad space in the future.Renewable energy industry needs technology as well as capital support,the cost of R&D and sales is high,and more profit risk.At present the renewable energy company allover the world is hard to get finance,so the financing decision,ownership structure,industrial policy and financial support is crucial.Therefore,this article focus on the development status of new energy industry in China,and analyse the relationship of capital structure and corporate performance of tiie industry in adjustment period,provide the theory basis of company capital structure and corporate governance structure for renewable energy industry in China,and proposed countermeasures and suggestions for industry healthy and stable development in the future.First,this article introduces the research on capital structure theory,enterprise performance evaluation theory,and the relationship between capital structure and corporate performance from scholars at home and abroad.We can find that due to the different national background,different industry,different development stage and different analytical methods,the results are different.After theory research,the current situation and future development trend of the development of renewable energy industry in China are analyzed in detail,including solar energy,wind energy and nuclear energy.Then,this paper selected 41 Chinese renewable energy corporation as sample from 2011 to 2014 years,maked descriptive statistical analysis on capital structure and corporate performance indicators combined with industrial development features,and posed hypothetical questions.The part of empirical analysis,using Stata software,firstly,using multiple regression model,screening out the capital structure indicators.Then use the multiple regression model,analysis the relationship between performance and capital structure of renewable energy industry in China from 2011 to 2014 years,and draws some conclusion.In the last part of this article,according to the conclusions of the descriptive statistics and empirical analysis,combined with the present situation and national policy of renewable energy industiy in China,put forward suggestions including governance structure optimization,corporate capital structure optimization,increase the industrial support and supervise policy,and the innovation of financial instruments to broaden the financing channels for renewable energy industry.