The Empirical Research Of The Correlation Between Capital Structure And Corporate Performance In The Listed New Energy Companies

In recent years,research on capital structure is the priority for the financial field.Starting from the 1950 s,the classical theory of capital structure has gradually taken shape and developed.Researcher’s study on capital structure has also become deeper and more thorough.The relationship between capital structure and corporate performance is also the top priority of attention.For different industries and during different periods,the corporate capital structure and corporate performance will have unique characteristics.This paper has selected the financial data of new energy listed companies during the six years from 2008 to 2013 and respectively analyzed the current status of capital structure and corporate performance of those new energy listed companies during these years.Then,the factor analysis method has been adopted to comprehensively evaluate the corporate performance and get the comprehensive performance evaluation indicators for these six years.Targeting the theoretical research of corporate capital structure and corporate performance in the first part of the thesis,four basic hypotheses have been put forward. Regression analysis has then been conducted with SPSS software.The four indicators of asset-liability ratio,current liabilities rate, long-term debt ratio and owner’s equity ratio have been selected for the capital structure.The factor analysis method has been adopted for the corporate performance to get the comprehensive performance evaluation indicators and arrive at the correlations between capital structure and corporate performance for new energy listed companies.Finally,relevant suggestions have been put forward based on the conclusions,which is the non-significant negative correlation between asset-liability ratio and corporate performance,the positive correlation between current liabilities rate and corporate performance,the non-significant negative correlation between long-term debt ratio and corporate performance,the positive correlation between owner’s equity ratio and corporate performance.The thesis has also pointed out the limitation of the thesis and future prospect.