Study on the Policy Support to Investment Structure of Hubei Listed Companies

Business activities of listed companies is an integral part of social and economic life, but which always be affacetd by political life.Since the existence of political costs, investment in listed companies will Be affected by macroeconomic regulation and control of national and local governments .Therefore, research on policy support to the investment structure of listed companies has rich theoretical significance.This paper mainly did empirical analysis for the capital structure of listed companies in Hubei province, especially in the investment structure by the impact of policy support .The empirical analysis shows that the proportion of state ownership is negatively correlated with the investment structure, listed companies of enjoying government subsidies is positively correlated with investment structure ,the effective tax rate of listed companies is not related to its investment structure, the listed company which access to credit support has a significant effects on its investment Structure.