A Study Of Financing Structure?Management Structure And Performance Of Company A

Financing is a problem that modern enterprises must face,and the proposition of enterprise financing has always been a hot topic in the research of modern finance and finance.Specifically,the financing structure of enterprises can be divided into two types according to the decision-making mode: the choice of internal,external financing,equity and debt financing.In practice,these two types of decisions are not necessarily separated,but in theoretical research,scholars discuss the financing structure and order of enterprises one by one for convenience.Overall,we should focus on: the financing characteristics of modern enterprises,why there are such characteristics of financing,and what factors determine the choice of financing methods and financing Proportion of these problems,and then discuss whether there is the best financing structure and capital structure,and whether the financing structure will affect the value of the company or enterprise.Company A is a large state-owned listed company.In recent years,due to external factors such as policy adjustment in the industry and competition among the same industry,part of the business has been suspended and the business structure has changed,which has brought restrictions to the development,production and management of the company.Business income is directly affected.Company A has taken measures to readjust its business structure,increase the construction of infrastructure and port equipment,and adjust the proportion of some long-term business.Increased business with long-term partners in an attempt to close revenue gaps.After readjusting the management structure,we find that the income has not been affected,but the cost of capital has increased,and the net profit has been greatly reduced.At the same time,A company carries on the debt financing,further analysis finds that its debt ratio increases,among which the short-term loan increases obviously,does not match with the new business structure financing demand,this is unfavorable to the enterprise performance enhancement.At the same time,the research of this paper found that the financial cost of A company is relatively large,how to reduce the capital cost,and how to use the appropriate financing structure to improve the performance is the biggest problem faced by A company.Based on the theory of capital cost and financing structure,and taking private listed company B asthe reference,this paper starts with the background and problems of company A,studies whether the financing structure of company A conforms to the change of management structure,and explores its possible performance.Increase the choice of favorable financing structure.This paper analyzes the trend of state-owned listed enterprises' financing choice through the statistics of historical financial indexes in financial market,and establishes logit model to qualitatively study the factors that affect the capital cost and financing structure of state-owned listed enterprises through linear regression and quantitative analysis.Starting with internal and external factors,this paper verifies the sensitivity of different factors to the capital cost and financing structure,and provides a reference direction for the financing decision of Company A.