企业资本结构优化研究分析 财务管理专业VIP免费

企业资本结构优化研究摘要资本结构是企业加强财务管理和公司治理的重要环节,它的设置是否合理将直接影响到企业的经营决策和长远发展。随着经济制度的不断完善,企业筹资渠道趋向多元化和复杂化,如何优化资本结构引起企业的重视。目前,我国资本市场尚不完善,企业内部因素和激励机制不健全,因此有必要对我国企业的资本结构进行调整和优化,以合理确定企业负债水平,促进企业持续发展。本文首先介绍了资本结构的相关概念及资本结构理论。接着分析了影响企业资本结构优化的因素及存在问题，最后针对于此，提出了企业资本结构优化的措施。【关键词】资本结构权益资本结构股权结构ABSTRACTCapitalstructureisanimportantpartoftheenterprisestostrengthenfinancialmanagementandcorporategovernance,itssettingisreasonablewilldirectlyaffecttheenterprisemanagementdecisionandlong-termdevelopment.Withtheconstantimprovementofeconomicsystem,theenterprisefinancingchanneltowarddiversifiedandcomplicated,howtooptimizecapitalstructuretotheattentionoftheenterprise.Atpresent,ourcountrycapitalmarketstillisnotperfected,internalfactorandtheincentivemechanismisnotsound,soitisnecessaryforourcountryenterprisecapitalstructureadjustmentandoptimization,withreasonableenterprisedebtlevel,promotetheenterprisesustainabledevelopment.Thispaperfirstintroducestherelatedconceptsofcapitalstructureandcapitalstructuretheory.Thenanalyzedthefactorsthataffecttheenterprisecapitalstructureoptimization,andfinally,fortheenterprisecapitalstructureoptimizationmeasuresareputforward.[Keywords]capitalstructureEquitycapitalstructureshareownership目录一、资本结构理论概述...........................................................................................................（1）(一)相关概念的界定........................................................................................................（1）1、资本结构.........................................................................................................................（1）2、负债资本与权益资本.....................................................................................................（1）3、资本结构优化.................................................................................................................（2）（二）资本结构的理论基础................................................................................................（2）1、MM理论.........................................................................................................................（2）2、权衡理论.........................................................................................................................（5）（三）资本结构的类型........................................................................................................（7）1、稳健型.............................................................................................................................（7）2、风险型.............................................................................................................................（8）（四）资本结构优化理论.................................................................................................（8）1、利润最大化.................................................................................................................（8）2、每股盈余最大化.........................................................................................................（8）3、股东财富最大化.............