企业资本结构优化与筹资决策互动分析.doc

安徽财经大学会计学院2010届 本 科 毕 业 论 文 论文题目 企业资本结构优化与筹资决策互动分析 所 在 班 级 061财务管理2班 学 号 200694027 姓 名 韩新刚 指导教师及职称 宋慧 讲师 成 绩  企业资本结构优化与筹集决策互动分析 Interaction Analysis of Optimization of Capital Structure and Raise Decision 班级：061财务管理（2）班 姓名：韩新刚 学号：200694027 指导老师：宋慧（讲师） [摘要]在现代财务理论中，资本结构是企业筹资决策中一个非常重要的概念，所谓资本结构是指企业各种资金的来源构成及其比例关系。资本结构有广义和狭义之分。广义资本结构是指全部资本的构成及比例关系，不仅包括长期资本，还包括短期资本（主要指短期债务）；狭义资本结构是指长期资本结构，即通常所说的资本结构。资本结构是由企业采用多种筹资方式而形成的，筹资方式的组合不同决定着企业资本结构的构成及其比例关系。企业资本结构的构成及比例的安排不仅影响筹资的资本成本、财务风险，影响企业总价值，更重要的在于资本结构的确定影响企业的剩余索取权和控制权的分配，进而影响企业利益相关者的利益制衡机制，最终影响财务目标乃至企业目标的实现。因此，对于现代企业而言，资本结构的调整优化问题至关重要。 Abstract: In the modern financial theory, corporate finance capital structure decision is a very important concept, the so-called corporate capital structure is constituted of various sources of funding and proportional. The capital structure of the broad and narrow sense, Generalized capital structure refers to the total capital ratio between the compositions and includes not only long-term capital, including short-term capital (mainly short-term debt); narrow capital structure refers to the long-term capital structure, known as the capital structure. Corporate capital structure is formed using a variety of financing, the financing of different combinations determine the composition of its capital structure proportions. Capital structure of the composition and proportion of the financing arrangements affect not only the cost of capital, financial risk, affect the total value is more important is to affect the capital structure to determine the residual claim and control the distribution, influence the industry stakeholders the interests of the checks and balances, ultimately affect the financial goals as well as business goals. Therefore, for modern enterprises, the adjustment of capital structure optimization is essential. [关键词 Capital Structure, C