AK Chemical Capital Structure Optimization Research

With the advent and development of capital structure theory,related theoretical issues are not only important topics in academic research,but also one of the key tasks of company management.The chemical industry is an important pillar industry of the national economy,and its products have been widely used in various fields of industry,agriculture and people’s lives.However,affected by the domestic and foreign epidemics,our country’s overall economic growth has slowed down,and the pressure on the chemical industry has increased.In order to meet the challenges,companies in the industry must accurately grasp the current status of their own capital structure,find out the shortcomings of the capital structure through in-depth exploration and analysis of their own capital structure,further optimize the capital structure,and provide strong support for the company’s development.It can be seen that the research on the optimization of the capital structure of chemical companies is of great significance to the stable development of the chemical industry and the national economy.Based on the optimal goal of capital structure,this paper takes AK Chemical as the research object,combined with the latest research methods such as entropy method to quantitatively study the influencing factors of AK Chemical’s capital structure,and puts forward targeted optimization suggestions.First,a longitudinal analysis of AK Chemical’s operating status and capital structure status is carried out in the form of charts,and the differences between each year are compared.Secondly,we deeply explored the background of AK Chemical’s industry,selected companies in the same industry with similar scale and business to conduct a horizontal analysis of capital structure,and concluded that the capital structure of AK Chemicals has the external constraints of immature capital market development and imperfect chemical industry policies.The internal problems of chemical equity are relatively concentrated,financing channels are single,and debt levels are unstable.The static analysis and dynamic analysis of the capital structure of AK Chemical were carried out again,and the optimal capital structure interval was determined for AK Chemical in combination with internal and external factors.Finally,in order to ensure that AK Chemicals achieves the target capital structure range,it proposes external safeguard measures at the policy and legal level,the level of financial institutions,and the level of independent social institutions;it is recommended that AK Chemicals develop diversified financing channels to enhance the company’s long-term and short-term debt solvency and appropriately increase assets Debt ratio,accelerate the transformation and upgrading of AK Chemical,improve profitability,improve managers’ decision-making level,and improve employee incentive rewards and punishment systems.