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资本结构优化研究

Optimization of Capital Structure

【作者】 苏春艳

【导师】 陈兆江;

【作者基本信息】 华北电力大学(北京) , 技术经济及管理, 2003, 硕士

【摘要】 本文以西方资本结构理论为理论指导,以企业价值最大化为目标,从战略角度系统研究了企业资本结构的若干问题。论文第一部分为总论,介绍了相关概念,指出研究资本结构的意义,评述了西方资本结构理论,为论文的进一步分析奠定基础。第二章分析了企业负债融资的动机,企业负债的承受能力以及合理负债水平,提出了负债融资的战略决策。第三章重点分析了权益融资对企业发展的重要战略意义。第四章从定量分析和定性分析两个角度研究了资本结构优化问题,提出了资本结构优化的战略决策。论文最后以国电电力为例评析企业资本结构,并提出优化策略。

【Abstract】 Basing on theory of capital structure, this thesis analysis questions on capital structure optimization and decision-making. The maximum of enterprise market value is accredited to financial goal as well as capital structure optimization goal. The author analysis the motives of corporation liability, capability of bearing liability, rationalized level of liability and decision-making of liability. The author also analysis the significance of owner’s equity financing. The methods of capital structure decision include quantitative analysis and qualitative analysis which are all concerned by the thesis. Finally, the thesis introduced Guodiandianli Company to demonstrate the capital structure optimization analysis and decision-making.

  • 【分类号】F275
  • 【被引频次】1
  • 【下载频次】952
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