On the Financing Regulation of Stock Market and the Optimal Capital Structure of Listed Companies

Abstract

the “Supply side Effect” of Capital Structure and Enterprise Financing Caused by the Imperfection of Capital Market Has Been Paid More and More Attention by Financial Circles. At Present, China's Capital Market is in a Transitional Period. Compared with Western Countries, It Has Particularity. the Strict Regulation of Securities Issuance and Financial Innovation Restricts the Financing and Capital Structure of Enterprises. through the Research on the Listed Companies of Equity Refinancing, It is Found That the Important Factor Affecting the Capital Structure of Listed Companies is the Change of the Regulation Policy of Equity Refinancing, Not the “Market Opportunity” of Stock Market Valuation. in Order to Achieve the Optimal Capital Structure, the Company Itself Needs to Take Certain Measures, and the Government and the Stock Control Department Should Also Take Relevant Measures to Create a Better Environment for Listed Companies.