Research On The Influence Of Financing Structure Of China's Media Listed Companies On Growth Of Enterprises

The financing situation of enterprises affects the growth of enterprises to a large extent.Different enterprises have different financing methods.But most of the theoretical and empirical research of financing has been produced in developed countries,and the research objects are concentrated in traditional industries.With the development of enterprises,China's research on financing structure has gradually gained attention,and the research field has also expanded from traditional industries to the emerging cultural industry.As an important part of the cultural industry,the media industry develops for China's economic development.The reasonable financing structure can not only guarantee the sustainable operation of the enterprise,but also effectively control the enterprise risk and financing cost.It is of theoretical and practical significance to study the impact of the financing structure on the growth of the media enterprise.Based on the relevant issues and the analysis of domestic and foreign scholars' research,this paper selects 59 media listed companies from 2014 to 2017 as research samples and uses the principal components analysis and individual fixed effect panel model to explore the relationship between the financing structure of China's media listed companies and corporate growth,and finally draws conclusions about the impact of the financing structure of media listed companies on the growth of enterprises.Finally,this paper gives suggestions for improving the structure and improving the healthy growth of the company for the current media industry and even listed companies in the cultural industryThe main conclusions of this paper are as follows: First,the financing structure of media listed companies has low internal financing ratio,high equity financing ratio.Second,there is a significant positive correlation between the company's internal financing,equity financing and corporate growth.The relationship between internal financing and corporate growth is more prominent.Third,the company's scale and equity concentration are positively related to the growth of the company,and the time to market negatively related to business growth.