摘要作为“衣、食、住、行”当中排在首位的生活必需品，服装行业是我国轻工业当中最为重要的行业之一。随着我国经济腾飞，服装行业的升级和发展迫在眉睫，首先要解决服装企业作为传统制造企业，融资规模小、融资难、产业转型困难等的问题。除了政府出台相关政策，调整和改善经济环境，促进服装企业进一步转型升级外，服装企业也需意识到优化资本结构，提升资本利用率方面有所作为才能够度过这一难关。本文梳理了资本结构相关的理论概念，以卓雅姿服装公司的企业资本结构优化为例，研究了当前供给侧结构改革，经济体制改革不断深化情境下，服装企业资本结构的现状和出现的问题，深入分析问题成因并提出有针对性的优化方向，帮助卓雅姿服装公司塑造核心竞争优势，在激烈的市场竞争中把握先机，进一步扩大生产规模，提升企业效益。关键词：服装企业；资本结构；财务管理；优化ABSTRACTClothingindustryasa"food,clothing,shelter,line"rankedfirstamongnecessitiesoflife,isalsooneofthemostimportantindustriesoflightindustryinourcountry,thedevelopmentoftheapparelindustryandmakethequalityofthegoodsisrelatedtoPeople'sDailylifequalitygreatly.WiththedevelopmentofChina'seconomy,theupgradinganddevelopmentofthegarmentindustryarefacingtheexportinternational,industrialtransformation,scaleexpansionandsoon.Tosolvetheseproblems,itisnecessarytosolvetheproblemthatgarmententerprises,astraditionalmanufacturingenterprises,havelittlefinancinganddifficultfinancing.Inadditiontothegovernmentpolicies,adjustandimprovetheeconomicenvironment,promotetransformationandupgradingofclothingenterprisefurther,clothingenterprisesalsoneedtorealizetheoptimizationofcapitalstructure,improvecapitalutilization,astobeablethroughthissituation.Keywords:enterprisecapitalstructure;financialmanagement;capitalstructureoptimization目录第一章资本结构相关理论..................................11.1早期资本结构相关理论..........................................11.1.1资本结构概述..............................................11.1.2资本结构理论源流..........................................11.2现代资本结构理论..............................................11.2.1MM理论及其修正............................................11.2.2权衡理论..................................................11.2.3代理成本理论..............................................21.3最优资本结构相关理论..........................................21.3.1最有资本结构的定义........................................21.3.2最优资本结构的确定法......................................2第二章卓雅姿公司概况与财务分析..........................32.1我国服装行业发展背景..........................................32.2卓雅姿公司概况................................................32.3卓雅姿公司财务状况分析........................................32.3.1营运能力分析..............................................32.3.2盈利能力分析..............................................42.3.3偿债能力分析..............................................42.3.4成长能力分析..............................................52.3.5财务综合分析..............................................52.4卓雅姿公司的资本结构现状......................................62.5卓雅姿公司的资本结构形成过程及存在的问题......................72.5.1资产负债率不稳定..........................................72.5.2流动负债的比重过大........................................72.5.3营运资金不足..............................................82.5.4融资渠道狭窄..............................................82.5.5股权结构比例不均........
