摘要
资本结构优化是财务理论研究的热点课题。研究资本结构归根结底是为了提高企业价值。本文从权衡理论的角度分析抵税收益、破产成本、代理成本与资本结构的关系,从而寻找出恰当的负债与股东权益的比率,即最优的资本结构。
The capital structure optimization is the financial theory research hot topic. Studying the capital structure is to improve the enterprise value. This article analysis the relationship between tax revenue,bankruptcy costs,agency costs and capital structure from the perspective of the trade- off theory,so as to find the appropriate debt ratio,namely the optimal capital structure.
关键词
抵税收益
破产成本
代理成本
资本结构优化
the tax revenue,bankruptcy costs,agency costs,capital structure optimization
