Research On The Influence Of The Capital Structure On Business Performance

The capital structure is the foundation of corporate investment activities,and it will have an effect on the capital acquisition ability,capital utilization efficiency,and capital utilization cost of the company,and then it will have an effect on the internal management and operating efficiency of the company.Therefore,studying the influence of capital structure on business performance is theoretical.And it has important value in practice.China's agricultural listed companies have poor performance,and there are more companies entering the ST sequence.Some scholars believe that the important reason for the poor performance of agricultural listed companies is the problem of corporate capital structure.What is the effect of the capital structure of listed agricultural companies in China on the performance of the company? What is the impact? Urgently researched.This paper systematically studies the influence of capital structure on the performance of agricultural listed companies.Its research conclusions have important theoretical and practical significance for optimizing the capital structure of agricultural listed companies and improving their operating performance.This article reviews the literature on the impact of domestic and foreign capital structure on business performance,and elaborates the theory related to capital structure and related theories of business performance as the theoretical support of this article.It analyzes the current status and possible problems of the performance and capital structure of listed agricultural companies in China.On the basis of theory and status quo,using factor analysis,we selected fifteen financial indicators including the company's profitability,operational capability,debt repayment ability and development ability to evaluate the company's operating performance,and used the measured operating performance as regression analysis below dependent variable.Finally,the company's capital structure is divided into three aspects: total capital structure,liability structure,and equity structure.Using partial least-squares regression to analyze the effect of the capital structure of listed agricultural companies in different segments on business performance,and based on this Corresponding policy recommendations.The research results show that the equity concentration and the her find index of the listed agricultural companies have a positive relationship with the operating performance scores,while the asset-liability ratio,the assets current liabilities ratio and the capitalization ratio are negatively correlated with the operating performance.The difference from the overall agricultural listed company is that in the agricultural integrated processing industry,the concentration degree of ownership has an inverse relationship with its operating performance;in feed and plantation and fishery and forestry,the capitalization ratio is positively related to its operating performance.Based on the above conclusions,this paper puts forward the following suggestions: Strengthen state support in the outside of the enterprise,strengthen the supervision of the stock market and create a good environment for agricultural development;within the company,it is necessary to optimize the concentration of listed company equity and reasonably improve the liability structure.This paper has new ideas for subdividing the capital structure into asset-liability ratios,debt structure,and equity structure to study its research perspective on the performance of agricultural listed companies.