Research On Capital Structure Optimization Of WH Chemical Group

With the continuous development of capital structure theory,problems related to it are gradually emerging.Capital structure management is directly related to the sustainable operation of enterprises,and the chemical industry is related to the national economy.The products have been widely used in various fields of work and life,but in recent years,affected by the management level of capital structure,the chemical industry is facing a difficult development situation.The asset scale of chemical enterprises grows slowly,and the capital investment field is also undergoing major changes,which makes the optimization of the capital structure of chemical enterprises appear particularly important.In this context,this paper takes WH Chemical Group as the case object to discuss the optimization of its capital structure,in order to provide solid support for the application of the theory of capital structure in the chemical industry.Based on the analysis of the operating status of the capital structure of WH Chemical Group,it is found that cash flow,assets and liabilities,equity structure,financing structure and other indicators show an unreasonable trend.By analyzing the operating status of the capital structure of WH Chemical Group,we can see that the cash ratio presents a decreasing trend,the debt ratio increases,the equity structure presents confusion,and the financing method is improper.In this process,a small study of the existing problems in the capital structure of WH Chemical Group shows that there is a lack of reasonable debt structure,a continuous decrease in cash,relatively concentrated equity and a single financing structure.Therefore,in order to provide a scientific basis for the capital structure optimization scheme of WH Chemical Group,the author uses entropy weight method to explore the influencing factors of capital structure optimization,and forms 4 first-level indicators and 12 second-level indicators.And after calculating the weight,it is found that the indicators of greater influence are profit level index and debt paying ability index.According to the static optimal capital structure value,the optimal capital structure interval is determined to be 53.62%～74.75%.In order to effectively promote the capital structure optimization of WH Chemical Group,we must start from the four levels of perfecting the organizational structure,optimizing the operation mode,building the incentive mechanism and strengthening the supervision and management,so as to escort the capital structure optimization step by step,so as to effectively guarantee the capital structure optimization of WH Chemical Group.The analysis of its operating effect shows that its profit level,asset-liability ratio,asset cost and other indicators have reached a reasonable range.