Research On Capital Structure Optimization Of TB Energy Company

With the emergence and development of the theory of capital structure,the problems related to capital structure have been an important subject in the academic circles at home and abroad,and also become one of the important work of enterprise management.The power industry is an important mainstay industry of our country’s economic development,it’s widely used in industrial manufacturing,agricultural production and People’s Daily life.In the past few years,the power industry has been hit by the epidemic at home and abroad,resulting in a slowdown in the country’s economic growth rate,which has caused great pressure on the power industry.under the circumstances,Electric power enterprises must deeply analyze their capital structure,find out the shortcomings of their capital structure,and then take corresponding measures to optimize the capital structure.Therefore,it is of great practical significance to deeply explore the relationship between assets and liabilities for the healthy and sustainable development of enterprises in the future.Based on the optimal capital goal of capital structure,this paper takes TB Energy Company as the case study object to study the optimization of its capital structure.Firstly,the paper summarizes the relevant theories of capital structure and expounds the calculation method of static optimal capital structure and the dynamic optimization adjustment idea.Secondly,by studying the current business and financial position of TB Energy Company,and analyzing the current situation of the capital structure from the three aspects of the company’s composition of total assets,liability structure and equity structure,the paper puts forward the existing problems of the capital structure of TB Energy company according to the current situation,and finds that there are some problems such as low asset-liability ratio,unbalanced debt scale and unreasonable equity structure.Thirdly,the static optimization analysis and dynamic optimization analysis of the capital structure of TB Energy Company are carried out.In the static optimization analysis,the Static optimization analysis uses the enterprise value comparison method to calculate the optimal asset-liability ratio.In the dynamic optimization analysis,the entropy weight method is used to quantitatively determine the influence weights of internal and external factors on the capital structure of TB Energy Company,and the optimal capital structure interval is obtained by combining the static and dynamic analysis.According to the enterprise Actual situation,it puts forward the concrete optimization ways to balance the long-term and short-term liabilities of the enterprise,adjust the equity structure to enhance the value of the enterprise,and develop diversified financing channels.Finally,in order to ensure that TB Energy Company can reach its target of the optimal capital structure interval,the corresponding safeguard measures are given to its capital structure optimization plan.It is suggested to enhance the awareness of capital structure optimization,establish capital structure early warning system,improve the enterprise internal control system and improve the company’s profit level.