The Research On Effects Of Capital Structure Of Agriculture Listed Companies On Business Performance

Agriculture is the foundation of national economy in our country,agricultural listed company is the representative of advanced agricultural productivity at the present stage in China.Studying the problem of agricultural listed companies is of positive significance for promoting the development of industrialization of agricultural listed companies,upgrading the agricultural industry.The company's capital structure is the concentrated reflection of the rights and obligations stakeholders,has a significant impact on company performance and market value.Therefore,this research with the generalized capital structure as the breakthrough point,studying the relationship between capital structure and corporate performance of agricultural listed companies to reveal the inner link between them,to find the factors that restrict the performance of listed companies,and on this basis,put forward measures to optimize the agricultural capital structure of listed companies,and serve as a reference for the healthy development of agricultural listed companies.Through the performance of agricultural listed companies and capital structure literature,constructs agricultural listed companies operating performance evaluation model of factor analysis of agricultural listed companies operating performance measure comprehensive score,on this basis,build the relationship between the agricultural capital structure of listed companies and business performance of multivariate regression model,the following research conclusions can be got: The first big shareholder's stake has significantly negative impact on agricultural listed companies' operating performance;The top five shareholders' shareholding has significantly positive impact on agricultural listed companies' operating performance;The top five shareholders' shareholding sum of squares has significantly positive impact on agricultural listed companies' operating performance;The proportion of state-owned shares has significantly negative impact on agricultural listed companies' operating performance;The flow ratio on the operating performance has significantly negative impact on agricultural listed companies' operating performance.On the basis of this,the following countermeasures can be put forward: moderately improve the equity concentration,reasonably reduce the proportion of state-owned shares,moderately increase the long-term debt ratio,appropriate to reduce the proportion of current liabilities.