Research On Influencing Factors Of Capital Structure Of Port Listed Companies

Capital structure is the result of enterprise financing.Domestic and foreign scholars have rich research on the influencing factors of capital structure.These theoretical foundations provide feasible reference for enterprises to optimize capital structure.As we all know,the optimal capital structure of different industries varies greatly,and the factors affecting the capital structure of different industries are also different.Through reading a large number of references,it is found that most scholars have studied the factors affecting the capital structure of Listed Companies in the whole industry or other industries in the past.Few studies have been conducted on the factors affecting the capital structure of Listed Companies in the port industry.The factors affecting the capital structure of Listed Companies in the port industry have been analyzed with emphasis,and relevant policy recommendations have been put forward.The results of this study have positive practical significance for the optimization of capital structure of port enterprises.Based on the perspective of data collection and practicability,this paper selected 16 port listed companies as the research object,and used multiple regression analysis to determine the impact of various factors on the capital structure.Through the empirical analysis of the data,it is concluded that the size,growth capacity and asset guarantee value of the company are positively correlated with the capital structure of Listed Companies in China's ports;the profitability and ownership concentration are negatively correlated with the capital structure of the company;and the size and profitability of the company are closely related to the capital structure of listed companies.According to the conclusion of empirical analysis,this paper analyses the internal and external aspects of the enterprise separately,and puts forward corresponding suggestions for optimizing the capital structure.The suggestions for optimizing the internal capital structure include:paying attention to the scale of the enterprise,attaching importance to the growth ability of the enterprise,paying attention to the profitability of the enterprise,standardizing the concentration of the ownership of the enterprise,paying attention to the asset guarantee value of the enterprise,and effective information disclosure;The external financing environment optimization suggestions include:speeding up the reform of the banking system,improving the capital market,strengthening financial supervision,improving laws and regulations,and safeguarding the interests of creditors.