| The selection of financing strategies has always been an important area of research in corporate finance,as it affects the sustainable development of a listed corporation.Influence factors of it include the industry of the corporation,its development strategy,business conditions,the preference of investors and a lot more.The financing strategy and the capital structure,if chosen properly,will promote the value of the corporation rapidly.Further,for the listed State-owned-enterprises(hereinafter referred as SOE),its advantage of equity financing and debt financing makes the selection of financing strategies easier yet more challenging at the same time.This paper chooses Xiamen Xindeco and Xiamen ITG as its objects of study.Both companies belong to the same state-owned parent corporation and went public at short time difference.And they both engage in the business of supply chains and real estate development.Also,there are no big differences between the amounts of funds they raised from their Initial Public Offerings(IPO).However,as 20 years passed by,the asset size and profitability of the two companies became disparate noticeably.In order to give suggestions on finance of Xiamen Xindeco Ltd.,this paper compares the selection of financing strategies and its effect of the two companies,which includes the following five parts:Part Ⅰ,an introduction to the research topic,including research background and implication;Part Ⅱ,summary of financing theories and research findings on the selection of financing strategies;Part Ⅲ consists of chapter 3 and 4,a comprehensive review of the history of equity financing and debt financingof Chinese listed corporations,their preference of financing selection and relevant impact factors with special statistical analysis of financing strategies of listed SOE;Part Ⅳ includes chapter 5 and6,the comparison between Xiamen Xindeco’s and Xiamen ITG’s preference and selection of financing strategies and a conclusion of their respective strengths and disadvantages.Part Ⅴ includes chapter 7 and 8.Chapter 7 is composed of suggestions and feasibility analysis regarding financing strategies selection given to Xiamen Xindeco based on its current situations.Chapter 8 is an conclusion on selection of financing strategies in line with the aforementioned research.The author wishes to provide useful reference through this paper. |
