Research On The Relation Between Capital Structure And Financial Achievements Of China’s New Energy Listed Companies

In the background of energy shortage, serious environmental problems, the new energy industry has become one of the most modern development potential industries, which is one of the country’s strong support for emerging industries. It reflects the ratio between debt and equity, which determines the enterprise’s ability to refinance debt and to determine the company’s future profitability to a large extent, and it is an important indicator of financial situation of enterprises. At present, the research of new energy and financial performance of listed companies is still relatively small, and the current findings are quite different, so this study has practical significance. This article select new energy and industrial’s representative listed companies to study its capital structure and financial performance, whose findings is of great significance for understanding financial performance and improving overall business performance of new energy industry. In addition, the capital structure theory application to new energy industry, it is possible to promote the development of the theory of capital structure.This paper studies the relationship between capital structure and financial performance of the new energy industry listed company, which contains six parts. The first part describes the research background, purpose and significance, research methods and structure of the article. The second part is the literature review, mainly on existing research at home and abroad.The theory of capital structure and financial performance will be explained in the third part. Firstly, the core concepts will be explained, and then the theory of capital structure and financial performance evaluation theory will be described. The fourth part will analysis the situation of capital structure and financial performance structure of China’s energy listed companies. Specific data on the full sample of new energy-related listed companies will be selected for the situation analysis of capital structure and financial performance, and the characteristics of China’s new energy industry companies debt financing and equity financing will be summarized. In the fifth part, an empirical models for the study of equity structure, debt structure and financial performance will be established based on the theoretical analysis and literature review presented in the previous chapters; secondly, some variables in the model will be defined and descriptive statistical analysis will be conducted; thirdly, regression analysis of the model will be conducted, then the equation set will be inspected, and the final conclusion will arise. The sixth part will give some summaries on the basis of the full text and some relevant recommendations for improvement of the capital structure and the financial performance.This article uses industry economics, investment, performance management and other disciplines of knowledge. Literature research is mainly adopted to analyze the research status at home and abroad in the course of the study. Statistical analysis is adopted to analyze the status of the current financial performance and the new energy industry capital structure, so as to clarify the characteristics of the capital structure and financial performance characteristics, and analyze the reasons. This paper use regression analysis, factor analysis and other research methods to build model and empirically analyze of new energy capital structure of listed companies and financial performance. Finally, the corresponding recommendations for improvements based on empirical conclusions will be drawn. It is important to strengthen risk management, maintain an appropriate debt ratio, keep the right amount of short-term liabilities, improve corporate debt structure, increase the rational use of long-term liabilities, promote bond market development and other measures to improve the debt structure for improving the financial performance of listed companies. It is necessary to maintain an appropriate concentration of ownership, promote rationalization of ownership structure, reduce state-owned shares, increase the senior management level, strengthen supervision and improve the stock market and other measures to improve the ownership structure for listed companies.