Animal Husbandry Listed Company's Capital Structure Affecting Factors In The Empirical Research

Capital structure optimization for enterprise value, it is one of the basic financial results.But the problem is the measure of the capital structure optimization standard is what? What is the capital structure of the affectting factors? The former research achievements, and had a better standard of conclusion, But because of the different industry, even enterprise will vary.Based on Chinese from 2003 to 2008 continuous existence of 16 animal husbandry listed companies as the research object,Used to measure the asset-liability ratio to the capital structure of the variable (was)with variable,the company scale,asset structure,the company growth, the debt tax shields, company profit ability, operation ability, solvency is explained variables,using multiple regression analysis method to analyze how to provide these variables in the capital structure of listed companies in animal husbandry.Empirical research conclusion is:The first,the company size,growth and profitability of tax shields,debts,operation ability, solvency is our capital structure of listed companies husbandry main factor;The second, the assets structure and capital structure,but negatively related to no significant influence;The third,the company size, profitability, solvency negative correlation with capital structure;and last,growth, the debt tax shields, operation ability and the capital structure are related.This research is different from general conclusion:The first,the explanation of the animal husbandry listed company of scale advantage not change for financing advantage;The second, the animal husbandry listed companies do not have a high level of mortgage,;The third, the animal husbandry listed companies is not strong;consciousness of tax debt;and last, animal husbandry listed companies use of financial leverage ability.In this study, the conclusions and explained below the improvement Suggestions:The first, the animal husbandry company has advantages to develop funding sources, bigger and stronger;The second, the asset specificity is strong in purchasing rent;The third, all possible use of tax shield enterprise value;The force, use of financial leverage, implementation of diversification;and last,establish national rural property market,promote the capital structure optimization.