Financing Structure Of The New Energy Of Listed Companies With Enterprise Value Of The Relationship Between Empirical Analysis

In recent years, the capital market of our country has been developing rapidly, while a lot of problems appear inevitably. Financing is just one problem among that. We are wondering what kind of financing structure is equitable and beneficial to the promotion of enterprise value, especially within such rising industry as new energy. In order to solve the above questions, this article will come to some valuable conclusions on the basis of theoretical investigation and positive analysis, and try to give some constructive suggestion. The essay aims at improving the financing and management of new energy listed company, so as to enhance their comprehensive competitive power.Firstly, the literature review is conducted from both domestic and abroad side. Secondly, this article generalizes relative theories and defines the indicators and methods of research. Thirdly, in the stage of demonstration, the article filters 40 eligible new energy listed firms, which are classified into transformation companies andnon-transformation companies, then gets listed companies related data from 2001 till now through the website of Shanghai and Shenzhen stock markets. Fourthly, the article dose the regression analysis and tries to find the relation between equity financing, debt financing and enterprise value. Finally, research conclusion can be listed as below: State Shares Proportion, Equity Concentration Ratio are inverse with Enterprise Value, so as the Asset-Liability Ratio, Long-term Liability, Trade Credit Ratio and Bank Loan Ratio. Short-term Liability is positive with Enterprise Ratio. On the basis of the above analysis, this article arrives at a conclusion that what kind of financing structure is most beneficial to the enterprise value and offers relative policy proposals. It is expected to have some reference value for firms in new energy field. It is deeply believed that the capital market and security market of our country will be more perfect, the capital structures of new energy enterprises tend to be more equitable and reach the optimization in the end.