The empirical analysis of China's coal listing corporation financing preference

It is very important for coal mining enterprise's development by revealing it's financing preference.This paper analyzed the factors which affect the financing preference of coal listing Corporation.It carried out factor analysis by using the data of 22 coal listing Corporation between 2009 and 2011,and the 7 main factors without multiple collinearity were found.It also constructed a regression model by using the equity ratio as the dependent variable which can reflect the financing preference,7 main factors from the factor analysis as independent variables.The regression analysis shows that the prior financing method is the profit,the more development ability will result in equity financing,and the more concentrated equity ownership will take more financing preference influence from the stockholder.