资本结构与公司治理结构

The Structure of Capital and Company Administration

资本结构与治理结构存在关系,资本结构的安排在很大程度上决定了企业治理模式的选择,并能对经营者产生激励和约束,从而降低代理成本;而公司治理结构也会以资本结构的安排产生一定影响。从资本结构不合理角度分析了我国上市公司治理的缺陷,认为优化资金结构是提高治理效率的根本。

The capital structure is related to the seletion of company administration pattern to a great extent,which could generate the excitation and restraint for managers to reduce agency cost.While the company administration structure would influene on the arrangement of capital structure.This paper analyzes the administration defects of listed company in our country from the view of unreasonable capital structure,which shows that optimizing capital structure is the base of improving administration efficiency.