Research on the Influence of Debt Financing on the Operating Performance of Listed Companies

Debt financing and equity financing are two complementary financing modes for listed companies in China. Disregard of financing structure hinders the development of enterprises, but at present listed companies in China prefer equity financing to debt financing. Moreover, debt financing exist a soft constraint of governance. As a result, debt financing cannot play its positive role. How to let the listed companies weigh the two financing structures, realize the importance of creditor's rights financing, and realize the sustained and steady development of enterprise's operating performance through creditor's rights financing is an urgent problem to be solved at present. This paper selects A - share listed companies in Shanghai and Shenzhen as the research object, empirically studies the impact of debt financing on the operating performance of listed companies, and puts forward the research prospect based on the research conclusion.