Research On The Capital Structure Optimization Of The Electric Power Industry In China

With the continuous development of market economy in our country and the gradual improvement of the economic system,electric power industry as a basic energy industry,its development has a vital role in the whole country.In the context of the reform of state-owned enterprises,with the deeping of the reform of the electric power industry and the change of the economic situation,in order to respond to market demand,to improve the efficiency of capital utilization in electric power industry,to achieve optimal allocation of resources,to maximize the value of the company,optimizing the capital structure of the company is of great significance and value.This paper reviews the theory of capital structure theory,the review of capital structure theory and the domestic and foreign literature review,and the present situation of the capital structure of Shanghai electric power were analyzed to find out the existing problems,and put forward the corresponding optimization measures.First,this paper describes the background,importance framework and ways of this research.Secondly,under the analysis of the situation in the electric power industry and Shanghai electric power,using quantitative model to calculate the optimal capital structure of Shanghai electric power static optimal capital structure,considering the factors of macro environment and micro company level to target capital structure interval of Shanghai electric power.Finally,this paper puts forward reasonable countermeasures of optimization of the electric power industry listed companies.As a representative enterprise of Shanghai electric power industry,by the analysis of capital structure of listed companies in power industry could provide reference to optimize the capital structure of other power industries.