| This paper at first investigates the present situation and the financing environment of small businesses by comparing the statistics of companies listed in main board and SME board,and we find out that small business of our country lacks of external debt financing and the present situation of the development of the small business is limited.Then based on the sample data of companies listed in SME board,we finds out that the current capital stucture level of small business is the important reason for the restriction of the development of the value.On the basis of the above conclusions,this paper then discusses the influence factors of the capital structure of the small business,which provides solutions to alleviate the financing difficulties.The traditional capital structure theory research laid the basic theory of corporate finance,and there are also many scholars studied the relevant theories ingredients in financing structure of small business.However,most of these studies focus on the analysis of internal financial factors on the impact of financing structure.Because of the main causes of financing difficulties of small business is financing market information asymmetry,so this article also adds the bank-firm relationship as a measure which influences small business capital structure,and then constructs an empirical model,and then analysis the sample data based on listed companies of the SME boards to examine the factors including financial and other factors.Then based on the previous conclusions,this paper analyzes the influence of influencing factors by analyzing the case of the company,and then puts forward the corresponding improvement suggestions. |
