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The combination of different funding sources configured to generate a different capital structure , and lead to the different cost of funds , conflicts of interest and financial risk , thereby affecting the company 's market value . How the financing behavior liabilities and shareholders' equity to maintain a reasonable proportion of the formation of an optimal capital structure , the common goal of not only shareholders and creditors , financial theory has long been the focus of research . Economics is called the theory of corporate finance , capital structure theory . This paper introduces and comments on one of the main theories . On this basis , the listed companies in China as research samples , a detailed analysis of the financing behavior of listed companies in China . First, using the empirical data analysis of momentum from the listed company 's financing and capital structure characteristics of the financing preference of China 's listed companies , the financing preference of listed companies and listed companies on the allotment policy change reflects the empirical analysis , results show that China 's listed companies and even adjust income has reached the allotment of shares for the purpose of behavior . However , from the latest research in the international company's financial circles - considering the degree of competition in the market after the company's products , low financial leverage is a competitive advantage , financial conservatism is a rational choice - a research perspective , the study found that Chinese products the degree of competition in the market of listed companies , the asymmetric choice of financing their level of competition , the more competitive industries and enterprises , the more we choose a relatively high risk of debt financing . To a certain extent , this reflects the low efficiency of the resource allocation of China 's capital markets - equity financing excessive coexist with insufficient equity financing . Then, exactly what the causes of the listed companies in China is so keen on equity financing ? Draw usually adopt the point of view of domestic and foreign scholars evaluate financing pros and cons , mainly from financing costs , control over the financing environment this problem is analyzed . In addition, from the efficient use of capital , the interests of investors , the company's growth and corporate governance , and macroeconomic performance analysis of the impact of the financing preference of listed companies in China . Finally some suggestions for how to regulate the financing behavior of listed companies in China , and to optimize the capital structure .
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