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随着社会主义市场经济体制的建立和发展,企业将面对一个富有弹性、灵活性和多样性的融资市场,一方面为企业进行融资结构的改善提供了客观可能,企业有了可供选择的融资渠道和方式。另一方面,由于不同融资渠道和方式具有不同风险性、约束性、弹性和融资成本,就使得企业在考虑用各种方式筹集资本时,一般要首先设计出筹集到所需资本总额的几个不同资本结构的方案,然后将几个方案进行数据计算和分析,从中选出最佳方案,改进该方案的资本结构,逐步使其达到最优。这个过程便是该资本结构的优化过程。优化企业资本结构,是企业理财活动的重要内容,它能有效降低企业平均融资成本(平均资金成本),使企业的综合或总的财务风险最低,提高资金效益。
With the establishment and development of the socialist market economic system, enterprises will face a flexible, flexible and diversified financing market. On the one hand, it will provide an objective possibility for the improvement of the financing structure of enterprises, and enterprises have alternatives Financing channels and ways. On the other hand, due to the different risks, constraints, flexibility and financing costs of different financing channels and methods, when enterprises consider raising capital in various ways, they generally first design a few of the total amount of capital raised Different capital structure of the program, and then several programs for data calculation and analysis, choose the best solution, improve the capital structure of the program, and gradually make it optimal. This process is the optimization of the capital structure. Optimizing the capital structure of an enterprise is an important part of an enterprise's wealth management activities. It can effectively reduce the average financing cost (average cost of capital) of an enterprise, minimize the overall or overall financial risk of an enterprise, and improve the financial efficiency.