Research On The Optimization Of The Capital Structure Of L Company

The capital problem is the core problem of the survival and development of modern enterprises.Optimizing the capital structure of the company can not only reduce the cost of the company,increase the income of the company,but also standardize the business activities of the company,so as to enhance the competitiveness of the company,promote the development of the company,and finally realize the maximum value of the company.Therefore,the optimization of capital structure is a core issue in the decision-making of modern enterprises,which is related to the survival and development of enterprises.L company is a typical state-owned road and bridge construction enterprise.In the process of development,it has the characteristics of large capital investment,long project cycle,poor profitability,slow payment of project funds,large industry scale and difficult management.As a construction enterprise with high debt,L company is facing severe financial problems.This thesis takes L company as the research object,based on the relevant theories of capital structure optimization at home and abroad,uses static and dynamic analysis methods to optimize the capital structure of L company,and puts forward suggestions for optimizing the capital structure.First of all,this thesis selects the relevant financial data of L company from 2019 to 2021,conducts a vertical analysis of its operating financial situation and capital structure status quo,and carries out a horizontal comparative analysis with peers,laying a foundation for revealing the existing problems and causes of its capital structure in the following thesis.Secondly,the thesis summarizes the problems in the capital structure of L company,and discusses the causes from both internal and external perspectives.Thirdly,according to the capital structure optimization goal,the thesis discusses the capital structure optimization problem of L company in static and dynamic environments respectively.Through the quantitative model of capital structure,the optimal capital structure under static conditions is calculated,and the target capital structure under dynamic conditions is calculated by linear fitting method,and then the optimal capital structure interval of L company is determined.Finally,according to the results of optimization under static and dynamic environment,based on the internal and external environment of L company,suggestions for optimizing capital structure are put forward in view of the problems existing in the current capital structure.This thesis analyzes the current situation of L company’s capital structure,discusses its main problems,and uses static and dynamic models to determine the optimal capital structure interval of L Company,which provides certain help for L company to adjust its capital structure and operation and management strategy,and provides certain reference for state-owned enterprises in the same industry to solve similar problems.