Research On Capital Structure Optimization Of H Company

With the intensification of the competition of the world's industries around the dominance of technology routes,division of value chains,and industrial ecology,and the implementation of national strategies such as Made in China 2025,the “Internet +“ action plan,and big data,the software and information technology service industry has been given Mission and tasks: Strengthen the leading role of scientific and technological innovation,further promote mass entrepreneurship and innovation,and accelerate the high-quality and efficient development of the service industry.The scale of the software and information technology service industry has grown continuously,and its role in supporting and leading economic and social development has been significantly enhanced;the integration and innovation,transformation and upgrading of the software and information technology service industry have put pressure on corporate capital chains.Therefore,software and information technology service companies will inevitably need to consider the method of obtaining funds more carefully and plan the company's capital structure in order to promote the company's sustainable,rapid and healthy development.Based on domestic and foreign research results and capital structure theory,this paper takes H company in the software and information technology industry as a case to carry out capital structure optimization research.First of all,in the retrospective analysis of H company,management present situation and the basic situation of the financial situation,on the basis of the H company's total assets,liabilities and equity structure industry trend of longitudinal and transverse comparison on three aspects: capital structure present situation and compare the state-owned assets supervision and administration of enterprise performance evaluation standard,related indicators,there will be problems summarized as relatively high debt levels,liabilities structure imbalance,financing is relatively single,the lack of checks and balances equity structure;In view of this,combined with the company's actual analysis of the cause.Secondly,the optimal debt level model is used to calculate the static optimal capital structure of H company.On this basis,the capital structure of company H is dynamically optimized,that is,the direction of the influence of internal and external factors on the capital structure of company H is qualitatively analyzed,and the weight of the influence of internal and external factors on the capital structure of company H is quantitatively analyzed by the entropy weight method,which provides guidance for the formulation of optimization plans.Then,the results of static optimization and dynamic optimization were combined to determine the capital structure optimization interval of company H,and the rationality of the interval was verified by curve estimation regression method.Thirdly,according to the existing problems in the capital structure of H company,specific plans for capital structure optimization are designed from the following four aspects: controlling the debt level,adjusting the debt structure,enriching the financing methods and optimizing the equity structure.Finally,it analyzes the expected effect of the capital structure optimization plan and puts forward the guarantee measures for the implementation of the plan.Thus,it provides reference for H company and other companies in the same industry to optimize the capital structure.