Empirical Study On Financing Structure Influencing Factors Of Electronics Listed Companies

With the rapid development of economic, the electronic information industrydeveloped more and more. The electronic industry is one of capital-intensive,technology-intensive and labor-intensive industries, and it which has high value-added andrelated degree, have a profound impact on China’s economic development, increasingemployment, development of related industries and improving people’s living standards.However, since the international financial crisis began to emerge in2008, the electronicindustry bear the brunt be affected by a rapid decline in exports and industrial growth or evennegative growth. It was until the mid-2009only by the change in key areas and key businessdifficulties. The use of foreign investment decreased significantly, the development ofelectronic industry was facing severe challenges. Participation in international competition,China’s electronic industry is especially the lack of the ability of a combination ofindependent innovation and international cooperation. Not sufficiently increased the level ofutilization of foreign investment and expand business overseas development space. Theresulting shortage of funds became a bottleneck restricting the development of the industry.The thesis is from the background of the financing structure of the electronics industryand clearing purpose of the study.Under the guidance of the financing structure theory, itcontact the actual financing methods of China’s electronics industry and multiple linearregression model and put forward reasonable theoretical assumptions. The thesis selects35listed electronics companies,who represent the electronics industry and choose the sampledata from2006to2010’s financial data.It executes multipling linear regression analysis forthe selected variables to verify the correctness of the assumptions. According to the regressionresults，it summarizes the main factors affecting of the financing structure. The mostimportant is the profitability of the enterprises, followed by liquidity and asset structure. Toensure the accuracy of the empirical results，I have a robustness test to the results of the study.Thesis is in order to provide better guidance for theory and practice of China’selectronics industry and promote sustained, rapid and healthy development of China’selectronic information industry.