Research On The Asset Structure Actuality And Optimization Of The Listed Companies In China's Iron And Steel Industry

Asset structure refers to the ratio of various assets and the proportion of the assets to the total asset. Specifically, it is the ratio of current asset to long-term asset, the ratios of the various components among current asset and the ratios of the various components among long-term asset. Asset structure theory researches the arrangement of enterprise resources and the choice of the suitable asset structure in the production and operation process of enterprises, and the optimization of the asset structure to improve the enterprise performance. At present, the iron and steel industry, especially the listed steel companies, make a significant contribution on China's economic construction. But the growth rate of fixed assets in China's steel industry is increasing rapidly; productivity growth of common products is larger than the demand growth of market, which leads that the structural contradiction of steel production and market demand is still prominent. Therefore, in the new round of reorganization, if the listed steel companies want to gain predominance, if China's listed steel companies want to develop continuously, it has great actual significance to the research of asset structure.The text commences with the relationship of the asset structure and enterprise performance of China's listed steel companies, and researches the asset structure actuality of the listed steel companies and the differences with the United States. Then the text analyzes the impact factors of asset structure of China's listed steel companies: country, industry, company's scale, capital structure etc. In the text, the 31 listed companies in Shanghai and Shenzhen stock markets are selected to do empirical analysis to study further the relationship of the asset structure and enterprises performance of listed companies in China's iron and steel industry, and concretely discusses that how the proportions of fixed asset, current assets, long-term investment and intangible asset to the total asset affect the enterprise performance from Return On Assets and Profit Margin of Sales Products. At the same time, the text also researches further the main factors affecting the listed steel companies. Finally, the text provides the optimization method of the asset structure of the listed steel companies in China: changing management concept, arranging suitable asset structure, enlarging the scale of fixed asset, improving the quality of fixed asset, carrying through asset reorganization etc. to hope that it has a certain reference to the asset management of China's listed steel companies.