互联网及多金融平台下企业资本结构优化

Optimization of Business Capital Structure under the Internet and Multiple Financial Platforms

以资本结构理论为起点,提出企业存在最优资本结构的客观事实,以阐述最优资本结构的内涵,分析互联网及多金融平对企业资本结构的重要影响,在借鉴原有资本结构优化理论的基础上,建立单业经营企业资本结构优化模型,进而建立多业经营企业资本结构优化模型,并用最优资产负债率和最优长期产权比例表示,同时确定各影响因子的取值及范围,由此得出具有实用价值的单业和多业经营企业资本结构优化定量模型,为各类企业优化其资本结构提供了理论依据。

Taking the capital structure theory as a starting point,the objective facts of the existence of an optimal capital structure are proposed to explain the connotation of the optimal capital structure,this paper analyzes the important impact of the Internet and multi-financial platforms on the capital structure of the company.On the basis of referring to the theory of the optimization of the original capital structure,a capital structure optimization model of a single-industry operating company was established.On this basis,a capital structure optimization model of a multi-industry operating company was established,which was expressed by the optimal asset-liability ratio and the optimal long-term property right ratio.At the same time,the value and range of the factors have been set,from which a quantitative model of capital structure optimization for single and multi-business enterprises with practical value is derived,and this provides a theoretical basis for various companies to optimize their capital structure.