Food And Beverage Industry Capital Structure And Company Performance Relevance Of Empirical Research,

Capital structure is a research topic which has great theoretical value and practical significance. In China, we like to study and copy the classical theory aboard, and mostly the conclusion are in contrast with the classical theory. The reasons are China's corporate governance which in the process of transition from planned to market economic system. So we need to find a new suitable theory.Paper around the relation between capital structure and corporate performance of listed companies in food and beverage industry. The study focus on normative analysis and empirical Analysis, which emphasis empirical analysis. Through the establishment of model, use SPSS software specifically, to find out the true relation.Asset-liability ratio is used to describe the capital structure, and the General financial performance, Tobin's Q and the EVA per capital are used to describe the firm performance respectively. Firstly, the sectional data from 37companies in food and drinking industry from the year 2001-2007,which are listed before 2001, indicates that the relation between asset-liability ratio and Tobin's Q is linear negative correlation, but the relation between asset-liability ratio and the general financial performance or the EVA per capital are irrigated significantly. Then we use the data by quadratic regression,but we can't have the satisfied result. Finally,in allusion to the problems in securities market illogicality of the capital structure,we put forward some methods to optimize the capital structure for the listed companies.