Analysis Of Factors Affecting Debt Financing Size

This paper takes China’s cement industry listed shares in companies listed in Shanghai and shenzhen two city as the research object,a collection of nearly a decade of cement and related economic data,basic across cement prices from peak to trough,rebound at the bottom of a cycle,based on the predecessors’ theory and practice,reference domestic and foreign research train of thought,in order to obtain more comprehensive data,to analyze the our country listed company debt financing present situation of cement,affecting the cement of the listed company debt financing scale macro,industry and micro factors were studied,to explore the strategies of optimizing debt financing scale.It is of practical significance to study how to determine the appropriate debt financing scale,improve the enterprise’s profitability and cash management ability,and maintain healthy development of China’s cement companies as capital-intensive enterprises.The content of this paper can be summarized into four parts :(1)analyze the debt financing scale of listed cement companies,including chapter 1,chapter 2 and chapter 3.This part introduces the basic theory,practical situation and internal and external causes of the debt financing scale structure of listed cement companies.Based on the analysis of various foreign schools of debt financing theories and the current situation of domestic research,this paper proposes some possible innovations and contributions.(2)the analysis of factors influencing the debt financing scale of listed cement companies refers to the content of chapter4.By tracking the panel data,macro and cement industry data of listed companies for 10 years,firstly,the influence of macro and industry data on cement listed companies was Shared by using the method of multiple linear regression,and the formula of influence weight was obtained.Then,factor analysis method is used to analyze the 10-year panel data of listed companies,find out the factors that mainly affect the financing scale,and get the empirical results.(3)put forward feasible Suggestions on optimizing the debt financing scale of listed cement companies,referring to the contents of chapter 5.This part points out the requirements and selection methods for optimizing the debt financing scale of listed cement companies in China,and puts forward the strategies for optimizing the debt financing scale of listed cement companies in China from the perspectives of enterprises and industries respectively.(4)it is the research conclusion and the prospect of follow-up research.This paper studies the macro factors that affect the debt financing scale of listed cement companies in China.PPI growth rate,M2 year-on-year growth rate and designed total production capacity(national cement clinker)are positively correlated to the debt financing and asset ratio,and have a great influence.By using factor analysis method,this paper studies the micro factors that affect the debt financing ratio of listed cement companies in China,and concludes that the debt financing and asset ratio of listed cement companies in China increases with the increase of liquidity index and enterprise scale,and decreases with the increase of company cash flow.The research on debt financing in cement industry mainly focuses on the optimization of debt scale so as to reduce financing cost.The innovation of this paper lies in that most domestic research on debt financing is based on qualitative analysis,with more analysis on the overall impact on enterprises,and less on the characteristics of debt financing caused by industry characteristics.Based on the quantitative analysis method,the paper demonstrates the debt financing scale of listed cement companies from the macro and micro levels,and explores in depth on the basis of previous studies.Firstly,multiple regression analysis was used to demonstrate the macro factors and factor analysis method was applied to analyze the micro factors.The macro and micro factors influencing the debt financing of listed cement companies and their influence weights were obtained.The corresponding countermeasures and Suggestions are put forward.Based on the empirical study of panel data,this paper obtained the data of the debt financing scale of cement industry through the combination of qualitative and quantitative data and auxiliary tools such as database analysis.