The Optimization Analysis Of The Capital Structure On The Listed Companies In China

At present,China is in an important period of economic transformation.Listed companies are leading enterprises in the economic development of various industries,which play a very important role in the development of the industry.At the same time,listed companies also need to adjust their capital structure to meet the requirements of social and economic development in the important stage of economic transformation.At present,listed companies are faced with the problem of unreasonable capital structure and unreasonable debt structure,which restricts the improvement of comprehensive competitiveness of listed companies.However,there are big differences between China's listed companies and western countries in terms of corporate system,and the existing capital optimization theory does not conform to the development situation of domestic companies.Therefore,domestic listed companies should not blindly apply the western capital structure theory,but should fully combine the actual situation of China's market development,and seek their own capital structure on the basis of reasonable reference to the western theory,so as to effectively promote their development.In this context,it is of great significance to use foreign capital optimization theories for reference and analyze capital structure optimization in combination with the actual situation of domestic listed companies.This paper takes the sorting theory and the trade-off theory,and combines the overall capital situation of the listed companies in China,to analyze the problems of the capital structure.This paper analysis the factors affecting of the capital structure from the two aspects of internal and external,and confirmation the causes of the unreasonable capital structure is that the preference of equity financing,the debt structure is unreasonable,too dependent on external financing.This paper put forward the corresponding countermeasures for the above reasons.The results show that the listed companies should optimize the ownership structure,adjust the ratio of liabilities and deal with the relationship of capital structure.This study is of great significance for optimizing the capital structure of Chinese listed companies,adapting to the increasingly stimulating international financial market and improving the comprehensive competitiveness of listed companies.