The Analysis on Influencing Factors of the Capital Structure of the Listed Companies——A Case of Electronic Information Companies

The capital structure has a significant impact on the improvement of the value of the companies. The theoretical circle has discussed the influencing factors of the capital structure and formed a set of relatively complete theoretical system, but the empirical studies on a particular industry has not been enough. For the quantitative study on the influencing factors of the capital structure of the electronic information listed companies, the paper selects the historical data of 23 electronic information listed companies from2006 to 2013. By establishing the panel data model, the paper analyzes the influencing factors of the capital structure trying to find out the relationship among the company's capital structure, its growth, asset structure, enterprise scale, total asset profit margin, non-debt tax shield, liquidity ratio and actual income tax rate so as to enrich the empirical study on the influencing factors of the capital structure of the electronic information listed companies.