企业资本结构优化研究 ——以华北制药为例摘 要资本结构理论是在财务管理专业中的重要组成部分，对于企业的经营发展起着十分重要的作用。因为经营资本方式的出错和对资本结构的运用不恰当，导致很多国内公司倒闭或破产。由此可以看出一个公司资本结构的优劣决定着它未来发展的好坏。本文以华北制药股份有限公司的资本结构进行解剖，分析一个公司资本结构的发展历史、现状以及该公司资本结构的不足之处，并且对此提出优化方法。首先，对华北制药股份有限公司的资本机构发展历史进行剖析，其次根据财务管理课程中学习到的财务分析方法与类似公司进行比对，来探索其中发现的不足之处。最后将该公司的自身问题和提出的优化方法联系起来，从企业的营运能力、市场发展形势、财务融资方式等方面给出建议，多方面为公司的资本结构优化的实现指明方向。关键字：资本结构；优化资本结构；华北制药股份有限公司AbstractCapital structure theory is an important part of the financial management profession and plays a very important role in business development.Because of the wrong way of operating capital and the inappropriate use of capital structure, many domestic companies closed down or went bankrupt. It can be seen from this that the quality of a company's capital structure determines its future development.This article analyzes the capital structure of North China Pharmaceutical Co., Ltd., analyzes the development history and current situation of a company's capital structure, and the shortcomings of the company's capital structure, and proposes optimization methods for this. First, it analyzes the development history of the capital institution of North China Pharmaceutical Co., Ltd., and secondly, compares the financial analysis methods learned in the financial management course with similar companies to explore the shortcomings found in it. Finally, the company's own problems are linked with the proposed optimization method, and suggestions are given in terms of the company's oper...
