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企业资本结构的影响因素 企业资本结构又称融资结构,是指企业取得长期资金的各项来源、组成及其相互关系。由于企业的资本结构影响企业的融资成本、市场价值、治理结构和总体经济的增长与稳定,因此,企业如何通过融资方式的选择来实现其市场价值最大化,即如何确定最优资本结构,一直是财务理论和实践中人们十分关注的问题。笔者认为,企业资本结构的影响因素主要有以下几个方面: 1.行业因素。首先,不同行业的资本有机构成存在着差异。一般来说,资本有机构成高的行业,经济规模要
Influencing Factors of Enterprise Capital Structure Enterprise capital structure, also known as financing structure, refers to the sources, components and interrelations of long-term capital obtained by enterprises. Since the capital structure of an enterprise affects the growth and stability of financing costs, market value, governance structure and the overall economy of the enterprise, how to maximize its market value through the choice of financing methods, that is, how to determine the optimal capital structure has been It is a problem that people pay much attention to in financial theory and practice. The author believes that the impact of corporate capital structure are mainly the following aspects: 1. Industry factors. First of all, there are differences in the organic composition of capital in different industries. In general, the high capital organic industry, the economic scale