摘要
通过对资本结构中的代理理论进行分析 ,根据上市公司股权结构的特殊性 ,将我国上市公司资本结构中的代理关系分为以下三种 :内部股权代理关系、外部股权代理关系、外部债权代理关系。通过对以上三种代理关系形成的动因及其内容进行分析 ,对优化上市公司的资本结构提出一些建议。
The present paper first analyzes one of the basic capital structure theory-agency theory.In accordance with the practical experience of the Chinese public company,the agent relations of the corporation can be divided into three:the agency cost of the inside equity;the agency cost of outside equity;the agency cost of debt.Some advice is given here concerning how to optimize the capital structure of the public company based on the researchment on the reason and the content of the agency cost.
