权衡理论和优序融资理论的比较探析

Comparison and analysis between the tradeoff and pecking order theories

权衡理论和优序融资理论都是在放宽MM定理前提条件基础上发展起来的最具影响的两种资本结构理论。对权衡理论和优序融资理论的内容和使用的异同进行比较研究,有利于把握和运用这两种理论。

The tradeoff theory and pecking order theory are the two most influential theories on capital structure developed from MM theorem by relaxing its assumptions. It pays to study the similarities and differences between the two theories so as to understand and apply them correctly.