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企业的资本结构是由企业采取各种长期筹资方式筹资而形成的,表明企业全部资金来源中债务资本与权益资本(指所有者权益)之间的比例关系,各种筹资方式及其不同组合类型决定着企业的资本结构及其变化[1]。从MM理论诞生以来,国内外已有不少学者对于公司资本结构影响因素进行了大量理论与实证研究。本文希望通过影响因素的内在条件和外在环境具体分析归纳其影响因素,为企业选择更优的资本结构以扩大企业价值提出建议。
The capital structure of an enterprise is formed by enterprises adopting various long-term fund-raising methods to show that the ratio of the debt capital to the equity capital (referring to the owner’s equity) of all the sources of funding of the enterprise, the various financing modes and their different combinations Decide the capital structure of enterprises and their changes [1]. Since the birth of MM theory, many scholars at home and abroad have done a great deal of theoretical and empirical research on the influencing factors of the company’s capital structure. This article hopes to summarize the influencing factors through the concrete analysis of the internal conditions and external environment of the influencing factors, and to make suggestions for enterprises to choose the better capital structure to expand the enterprise value.