Research On The Influence Factors Of The Financing Structure Of Agricultural Listed Companies In China

China is a big agricultural country,promoting agricultural modernization is very important for agricultural development.Agricultural listed companies are an important embodiment of agricultural modernization.At present,the problems of low operating efficiency and weak innovation ability of agricultural listed companies in our country have seriously affected the promotion of agricultural modernization.One of the main reasons for this phenomenon lies in the unreasonable financing structure of enterprises.It is of great practical significance to study the characteristics of financing structure of agricultural listed companies and the factors that affect the financing structure.Based on modern capital theory and enterprise life cycle theory,this paper uses cluster analysis,typical correlation analysis and other research methods to analyze the life cycle of agricultural listed companies.This paper studies the correlation between the financing structure of enterprises in each stage and micro factors and macro factors,and puts forward some suggestions to improve the financing structure of agricultural listed companies.First of all,the paper analyses the problems in the development of agricultural listed companies in China and the characteristics of the financing structure.Secondly,64 agricultural listed companies in our country are regarded as effective sample data,and they are divided into three stages by cluster analysis: growth stage,mature stage and declining stage.This paper analyzes the typical correlation between the financing structure of enterprises in the growth period and the declining period,and the microcosmic factors and the macro factors,and compares the characteristics of the financing structure of the mature enterprises.The results show that the macro factors have a significant influence on the financing structure of the enterprises in the growth period and the declining period,and the corporate financing structure in the mature period is more influenced by the enterprise itself,but no matter at any time,The profitability of the enterprise is the most significant factor that affects the financing structure of the enterprise itself.Finally,according to the empirical research results,combined with the current situation of agricultural listed companies in China,from the external environment and the enterprises themselves,the paper puts forward the countermeasures and suggestions to optimize the financing structure of agricultural listed companies in China.Such as opening up the financing channels of bonds,innovating credit products,increasing the investment of agricultural scientific research funds,strengthening the competitiveness of agricultural enterprises,perfecting theaccounting system and incentive system of agricultural enterprises.