Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

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The Relationship Between Capital Structure and Profitability in Pharmaceutical Manufacturing Industry

Authors
Mingqian Feng1, *
1Washington University in St. Louis, St. Louis, USA
*Corresponding author. Email: f.mingqian@wustl.edu
Corresponding Author
Mingqian Feng
Available Online 14 December 2022.
DOI
10.2991/978-94-6463-054-1_31How to use a DOI?
Keywords
capital structure; pharmaceutical industry; manufacturing industry; profitability
Abstract

Since the 19th CPC National Congress, the Chinese government has deepened the reform of pharmaceutical enterprises and established a high-quality and efficient medical service system. Meanwhile, pharmaceutical and medical companies have also made important contributions during the pandemic. According to the date from XIANGXIN securities, vaccines, in vitro diagnostics, and biologics were the three fastest growing areas of net profit for pharmaceutical companies compared to the same period. The pharmaceutical manufacturing industry not only provides a large number of basic health services across the country, but also continues to make breakthroughs in drug research and development and technological innovation. Therefore, it is very necessary to analyze the profitability of listed pharmaceutical enterprises. The specialties of pharmaceutical industry includes high investment, high yield, high risk and long cycle, which determines that the pharmaceutical industry faces the problem of financing difficulties for a long time. Domestic literatures on the pharmaceutical industry mostly focus on improving the external environment of enterprises and increasing financial support, ignoring the influence of the internal capital structure of enterprises on financing. Whether a reasonable capital structure inside an enterprise can effectively improve its financing difficulties and what factors are more effective are worth our in-depth study.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
14 December 2022
ISBN
978-94-6463-054-1
ISSN
2352-5428
DOI
10.2991/978-94-6463-054-1_31How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Mingqian Feng
PY  - 2022
DA  - 2022/12/14
TI  - The Relationship Between Capital Structure and Profitability in Pharmaceutical Manufacturing Industry
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 274
EP  - 282
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_31
DO  - 10.2991/978-94-6463-054-1_31
ID  - Feng2022
ER  -