公司治理就是委托人与代理人之间为减少代理成本、达到企业价值最大化,而就企业控制权,经营者的激励与约束所达成的一整套公司权利、责任分工和约束机制的制度安排,它包括内部治理和外部治理两个方面的内容。对公司治理结构与资本结构因果关系的认识具有重要的实践意义,企业应 Corporate governance is a set of institutional arrangements between the principal and the agent to reduce the agency cost and achieve the maximization of the enterprise value, and a complete set of corporate rights, division of responsibilities and restraint mechanisms reached on the control of the enterprise and the incentive and restraint of the operator. It includes two aspects of internal governance and external governance. Understanding of the causal relationship between corporate governance structure and capital structure is of important practical significance. Enterprises should