资本结构理论的产生,起源于1958年美国经济学家莫迪利亚尼和米勒发表的 “TheCostOfCapital,orporationFinanceandTheTheoryOflnvestment”一文。这篇文章中首次提出了著名的MM定理,奠定了资本结构理论的基准框架,也是目前最有影响的资本结构理论。随着多年来财务理论界对企业资本结构与企业市场价值的关系展开了全面而深入的研究,各种成 The theory of capital structure originated from the article entitled “TheCostOfCapital, corporationFinance andTheoryOfNvestment” published by American economists Modigliani and Miller in 1958. This article first proposed the famous MM theorem, which laid the basic framework of capital structure theory and is the most influential theory of capital structure at present. With many years of financial theory circles on the relationship between corporate capital structure and the market value of the enterprise launched a comprehensive and in-depth study, all kinds of