国内外资本结构及其动态调整文献综述

Literature Review on Domestic and International Capital Structure and Dynamic Adjustment

资本结构选择问题一直是财务界的热点问题,近年来,伴随计量经济学方法的进步,对资本结构的研究角度逐步由静态研究转为动态研究,研究范围逐步拓展到宏观经济和制度层面。文章从资本结构的影响因素、调整速度的影响因素以及调整速度的测定三方面梳理了近年来在资本结构及动态调整方面的研究成果,并对研究内容的局限性进行总结,以期为在资本结构领域的近一步研究提供指引。

Choice of capital structure issue has been a hot topic of the financial fields,in recent years,along with the progress of econometric methods,research perspective on capital structure has been gradually turned from static to dynamic and the research scope has expanded to the macroeconomic and institutional level.This article summarized the research achievements in the fields of capital structure and its dynamic adjustment from the influence factors of capital structure,the influence factors of adjustment speed and the measurement of adjustment speed,and gave a summary of the limitation,so as to guide further research in the field of capital structure.