Research On Capital Structure Optimization Of Zhongyuan New Materials

At present,China is in an important period of economic transformation.Listed companies are the leading enterprises in the economic development of various industries and play a very important role in the development of the industry.At the same time,listed companies should adjust their capital structure in the important stage of economic transformation,so as to meet the requirements of social and economic development.A reasonable capital structure can help an enterprise develop continuously and maximize its value,which plays an important role for an enterprise.Therefore,how to optimize the capital structure of enterprises is particularly important.The thesis takes Zhongyuan New Materials as the research object,optimizes the capital structure as the purpose,and studies the capital structure optimization of Zhongyuan New Materials on the basis of control right theory,tradeoff theory and optimal order financing theory.Optimize the capital structure according to the financial status of Zhongyuan New Materials.Entropy weight method and comparative analysis method were used to analyze and evaluate the new Materials from multiple sources.The analysis shows that Zhongyuan New Materials company has the problems of high current debt and debt ratio,single financing channels and high equity concentration.After analysis,the causes of these problems are excessive reliance on short-term loans,limited external financing and lack of checks and balances on major shareholders.In order to optimize its capital structure,entropy weight method is used to determine the weight of Zhongyuan New Materials Company's capital structure,and the optimal capital structure interval is determined by static and dynamic optimization.In view of the optimal interval,some measures are put forward,such as adjusting the proportion of non-current liabilities,developing diversified financing channels and optimizing equity structure.The thesis expects to not only enrich the relevant theoretical research on capital structure,but also provide some references for other enterprises to optimize capital structure.There are10 figures,32 tables and 54 references in this thesis.