Research On The Equity Financing Preference Of Non Financial Listed Companies Under The Policy Of Deleveraging

In order to find a solution to the problem of equity finance overhigh of non-financial companies in China,this paper studies the equity finance preference of non-financial listed companies in China.Based on mm theory and entrusted management theory,this paper analyzes the factors affecting equity finance,sets hypothesis factors,and through empirical analysis,studies the equity finance preference of 3179 non-financial listed companies in the a-share market before and after the policy of " detailed rules for the implementation of non-public offering of shares by listed companies" issued in 2017.This paper constructs a regression model of equity finance's preference and hypothesis before and after the policy was introduced.through factor analysis,this paper empirically explores the influence of deleveraging policy on equity finance's preference of non-financial listed companies,and deeply studies the relationship between equity finance's preference and the proportion of controlling equity,risk resistance and other factors of enterprise's major shareholders,so as to further explore how to regulate equity finance's behavior under the background of deleveraging policy.