The Research On Optimization Of XN Mental Company's Capital Structure

The issue of capital structure has always been a subject of great research value and significance.From the perspective of business operation,exploring the ratio of assets to liabilities of an enterprise is of great significance to the development of an enterprise.As a traditional“three reductions and one supplement” industry,the steel industry has always had a high asset-liability ratio.Meanwhile,high leverage didn't bring high returns.High asset-liability ratio has been a drag for the enterprise.In the past three years,the steel industry has resolved a total of150 million tons of excess capacity,but it doesn't mean the task of supply-side structural reform being completed,while the asset-liability ratio of the steel industry is still high.In such a urgent situation,it's essential to optimize corporate capital structure effectively.According to the CISA's opinion,the development of the steel industry in 2018 has been steady,and the average asset-liability ratio has dropped continuously,more than half has fallen below 60%.However,when the overall environment of the steel industry goes well,XN mental company's asset-liability ratio has remained high,and been increasing year by year.Therefore,the consideration of XN mental company is necessary.This article going form both macro and micro perspective,combing with the industry principles and characteristics,gives some solution to optimize the structure of XN mental company.This article is composed of five parts.The first chapter introduces the background and significance of the research,combing with the domestic and foreign research results on capital structure optimization and model theoretical system,and then explains the changes and trends of capital structure in recent years.This specific case analysis provides a theoretical basis.The second chapter mainly summarizes the viewpoints of the theories used,including an overview of the related theories of capital structure.The third chapter analyzes the current situation of the capital structure of XN metal company,and points out the problems and reasons.The fourth chapter puts forward the specific solutions to the previous analysis solutions.However,for a specific company,there is no optimal capital structure,only can we do is pointing out a development trend.The last chapter is a summary of the whole text.