Correlation Analysis Of The Third Industry Capital Structure And Financial Efficiency

The Yangtze River Delta Economic Circle,as the leader of China's economic development,plays an important role in driving economic development and guiding the direction of reform.As a new engine of China's economic development,the tertiary industry plays an important role in breaking the shackles of economic development and improving the speed of development.After decades of development,the tertiary industry has become a new industry which integrates science and technology,artificial intelligence and high-quality services.Under the background of the implementation of the strategy of "one belt and one road",the Yangtze River Delta economic circle,with the support of the state policy,has explored a road of development that is in line with China's national conditions with its excellent geographical location and developed transport system.Especially the exploration of tertiary industry has important guiding significance for the development of tertiary industry in China.The study of regional economic development can not be separated from the analysis of listed companies.The activity of capital market has become an important indicator reflecting the level of economic development.Therefore,the study of the tertiary industry in the Yangtze River Delta is based on the study of listed companies.To a certain extent,the capital structure of a company reflects the rights and obligations of stakeholders,and has an important impact on corporate governance.The capital structure not only reflects the proportion of the company's debt capital,but also reflects the various capital structure relationships of the company.In this paper,the corresponding indicators of profitability,operational capacity,development capacity and solvency of a company are collectively called financial efficiency indicators,which reflects the relationship between financial expenditure and financial returns,so as to reflect the financial efficiency of a company in a certain period of time.Through reading a large number of domestic and foreign research literature,this paper constructs factor analysis model and multiple linear regression analysis model to analyze the correlation between capital structure and financial efficiency of A-share listed companies in the tertiary industry of the Yangtze River Delta.In the analysis process,it adopts many research methods,such as integrating theory with practice,comparative analysis and so on,to analyze the financial data of the listed companies in the tertiary industry of the Yangtze River Delta from 2008 Finally,according to the analysis results,the corresponding suggestions are put forward.Based on the empirical analysis of capital structure and financial efficiency of Listed Companies in the third industry of Yangtze River Delta,the results are as follows:the proportion of non-current liabilities is negatively correlated with financial efficiency,the relationship between property ratio and financial efficiency is not obvious,the ratio of assets to liabilities is positively correlated with financial efficiency,the proportion of shareholders holding shares is positively correlated with financial efficiency,and the second to fifth is positively correlated with financial efficiency.Shareholder ownership ratio is positively correlated with financial efficiency.In the process of research,it is found that companies still have general growth.This study is of great significance for improving the financial efficiency of Listed Companies in the tertiary industry of the Yangtze River Delta,improving the capital structure of the company,and strengthening the management mechanism of Listed Companies in the tertiary industry.