Research On Debt Financing Cost Control Of Small And Medium-sized Listed Companies

Under the initiative of "The Belt and Road",China's listed companies have gradually developed steadily.At the same time,the demand for funds is also growing.Equity financing,debt financing and internal financing are the common means of financing for listed companies.As a measure to build a multi-level market,the SME board provides a listing opportunity for companies that cannot meet the standards of the main board market.Compared with the equity financing,debt financing can effectively use the effect of financial leverage to enhance the company's value.When meeting the capital needs of the development of SME board listed companies,debt generates a certain cost.If the cost of debt financing is particularly high,it will hinder the company's continuous operations and performance improvement.However,if the debt cost is at a low level for a long time,it means that the company's own debt index is low,and the benefits of financial leverage have not yet been realized.Therefore,how to control the cost of debt financing brought about in debt financing is a problem that needs to be paid attention to in the development of SME board listed companies.There are seven chapters in the article.The first chapter is an introduction.It explains the writing background and significance of the article,and discusses the achievements and innovations in the field of debt financing costs at home and abroad.Starting from the production and management background of the SME board listed companies at this stage,we will sort out the debt financing and its cost.It is found that the exploration of debt financing costs at home and abroad is usually carried out through debt financing activities.The second chapter defines the related concepts of debt financing cost control,and analyze the theoretical basis of the article research.The third chapter is about the current situation of debt financing activities of SME board listed companies,and puts forward the necessity of controlling the cost of debt financing.The fourth chapter selects the data of the SME board listed companies for the four years from 2014 to 2017 to conduct an empirical analysis of the cost of debt financing.The fifth chapter combines the actual case and the empirical conclusions toanalyze the debt financing situation of H Company in recent years and the problems or hidden dangers of the company that affect the effective control of debt financing costs.The sixth chapter,in view of the existence of H company,from the perspective of the structure of debt,internal control,management level,the release of financial information,solvency and profitability,provides recommendations for H company to achieve effective control of debt financing costs.In the seventh chapter,the results of the overall research are briefly summarized and propose that the paper is insufficient.