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对于上市公司而言,其资本结构决策在很大程度上会受到信用评级的影响,一般的规律是信用评级较高的公司,其融资时会采用发行债券的方式进行,而信用评级没有明显变化时,公司则倾向于采用股权融资的形式进行,这样做的目的就是为了能够更有效的提高公司信用评级。由此可以看出,在我国现代企业制度下,信用评级对资本结构的影响力及其发挥的巨大作用。尽管当前的敏感系数相对还较高,但是企业认识到信用评级的重要性后,在今后上市时进行融资决策过程中也会多加考虑信用评级这一因素的影响。本文主要对企业信用评级和资本结构决策进行分析与探讨,得出企业良好的信用评级直接影响着其发展规模和效益。
For listed companies, their capital structure decision will largely be affected by the credit rating. The general rule is that companies with higher credit rating will adopt the method of issuing bonds when financing, and there is no obvious change in credit rating , Companies tend to adopt the form of equity financing, the purpose of doing so is to be able to more effectively improve the company’s credit rating. From this we can see that under the modern enterprise system in our country, the impact of credit rating on capital structure and its great role. Although the current sensitivity coefficient is still relatively high, companies recognize the importance of credit ratings and consider the impact of credit rating on future financing decisions. This paper mainly analyzes and discusses the corporate credit rating and capital structure decision-making, and concludes that the good credit rating of a company directly affects the scale and efficiency of its development.