Research On Listed Construction Companies' Optimization Of Capital Structure

To help the listed construction companies solving the debt financing and equity financing problems in the research of scholars at home and abroad,construct target capital structure influence factor model and the factors influencing the capital structure adjustment speed model,completed an empirical study on the optimization of capital structure of Listed construction Companies.According to the results of empirical analysis,puts forward corresponding optimization suggestions.According to the optimization of the capital structure of the listed construction companies,the article is divided into six chapters.the first chapter is the introduction.First,it introduces the background and significance of the topic selection.Secondly,it analyzes related factors of capital structure and dynamic adjustment speed of Listed construction Companies of related research at home and abroad.Finally,it puts forward the innovation of this paper,leading the full text.The second chapter is the theoretical basis of the research on capital structure.Modern and new capital structure theory provides a theoretical basis for the study of the optimization of the capital structure of the listed construction companies.The third chapter analyzes the general situation of the capital structure of the listed construction companies.The current situation of equity and debt financing can analyze the problems and influencing factors of capital structure.The fourth chapter introduces the micro and macro economic factors that affect the capital structure of the listed construction companies,and fit the target capital structure.The fifth chapter choose China's Shanghai and Shenzhen two city's listed construction companies in 2008-2016 years panel data as the research sample,using the nonlinear least squares method to establish the target capital structure influence factor model and the factors influencing the capital structure adjustment speed of the model,listed construction company's capital structure choice empirical model showed that TOP1?TOP10?TWO?BS?SIZE?PROF?AGR?ETR have effect on the target capital structure.It can be seen that the dynamic adjustment model is more focused than the static model,and can be more targeted and targeted to optimize the capital structure.The sixth chapter is the optimization of the capital structure of the listed construction companies.It can be divided into three main parts: corporate governance mechanism for listed construction companies' governance structure and company characteristics;the banking system and government entities mainly aim at the external economic environment of Listed construction companies.