Abstract
Under the background of economic downturn, China's steel market has experienced a situation of oversupply, and steel companies have generally meager profits or even losses. The steel industry have entered a “cold winter”. Based on this situation, this paper studies the capital structure policy of 37 steel manufacturing companies listed in China. The innovation of the article is to link the working capital policy of the enterprises with the decision of capital structure, so as to provide advice for the investment and financing decision of the enterprise.
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