Financing Structure Of Listed Companies In High Speed Railway Industry Research On The Impact Of Corporate Performance

In recent years,the rapid development of high-speed railway in China has greatly promoted the economic and social progress.Due to the high speed rail has the advantages of saving land resources,as well as high speed,energy saving,excellent industrial layout,many countries in the world have formed the climax of high-speed railway construction.With the development trend of economic diversification,the rapid development of high-speed railway has a great impact on the development of economy and society.Such as large demand for funds,after a long period of time to recover the investment and other issues are restricting the development of high-speed rail industry bottlenecks.Therefore,correctly handle the relationship between financing and performance of high iron industry listed companies,optimize the financing structure,improve the company performance,in order to achieve steady development of high-speed rail industry,has important meaning and value.This paper focuses on the relationship between financing structure and corporate performance of Listed Companies in high speed rail industry.This paper firstly summarizes and reviews domestic and abroad research,introduces the related theoretical basis,analysis the impact of financing structure on corporate performance will theoretically provide a theoretical basis for the following empirical analysis.Followed by an analysis of the operating condition and the financing structure of high iron industry listed companies,compared to manufacturing listed companies with high iron industry listed companies,found the differences between industries,further proves the value of this study.Finally,according to the influence of endogenous financing,bond financing and equity financing on corporate performance,6 hypotheses are put forward,and the empirical analysis is carried out by using the index data of listed companies from 2011 to 2015.The conclusion of this article is: high iron industry listed company's internal financing rate is positively correlated with corporate performance;asset liability ratio has negative correlation with corporate performance;current debt ratio is positively correlated with corporate performance;long-term debt ratio is negatively correlated with corporate performance;a two curve inverted U type and the proportion of the first shareholder the performance of the company;the proportion of tradable shares has negative correlation with corporate performance.Finally,this paper also puts forward some suggestions on how to optimize the financing structure of the listed companies and promote the improvement of corporate performance.