财务弹性与资本结构关系研究:一个文献综述

The Relationship Between Financial Flexibility and Capital Structure:A Literature Review

由于企业内外部环境存在的不确定性,财务弹性逐渐成为资本结构决策的考虑重点之一,而资本结构与企业价值最大化目标的实现息息相关。文章主要通过对国内外财务弹性与资本结构的重要文献进行总结归纳,为构建财务弹性与资本结构间的关系奠定基础,并在现有的国内外学者研究基础上,提出未来可能需要着重关注的几个方向。

Due to the uncertainty of internal and external environment,financial flexibility has gradually become one of the key points of capital structure decision-making,and capital structure is closely related to the realization of enterprise value maximization.This paper mainly summarizes the important literature on financial flexibility and capital structure at home and abroad,so as to lay a foundation for the construction of the relationship between financial flexibility and capital structure.In addition,on the basis of the existing research findings,this paper puts forward several directions that may need to focus on in the future.