公司资本结构是指普通股资本、优先股资本和债券(长期债务资本)在公司总资本中的比例关系。为简便起见,通常都假定公司资本结构是权益资本和债券资本的某种组合。现代公司资本结构理论发端于诺贝尔经济学奖获得者莫迪利安妮(Modigliani)和米勒(Miller)1958年提出的资本结构与厂商价值的无关性定理(简称MM定理)。就截止目前 Corporate capital structure refers to the ratio of common stock capital, preferred stock capital and bonds (long-term debt capital) in the company’s total capital. For the sake of simplicity, it is generally assumed that the company’s capital structure is some combination of equity capital and bond capital. The modern company’s capital structure theory originated from Modigliani, the Nobel Prize winner in economics, and Miller’s 1958 independence theorem of capital structure and manufacturer value (MM Theorem for short). As of now