Interactive Effects between Capital Structure and Firm Performance in Real Estate Listed Company

摘要

The relation between capital structure and firm performance predicted by trade-off theory and pecking order theory of capital structure is completely contrary.Also,plenty of empirical research can't draw the same conclusion.This research just considers the real estate listed company.Debt fund of real estate companies listed in Shanghai exchange and Shenzhen exchange is subdivided into three kinds,then the interactive effects between different kinds of debt fund and firm performance are studied through multinomial regression analysis.At last,some conclusions are drawn,for example,firm performance in current year and last year affects Asset Liabilities Ratio,Debt in Current liabilities,Ratio of short-term loan,Liabilities Ratio with Interest and without Interest obviously negatively.Those conclusions will be helpful for the regular competition and development of real estate companies in the market.