谈资本结构的定量决策方法

资本结构是指企业总资本即长期资金中长期负债与所有者权益之间的比例关系 ,一般以长期负债占总资本的比重来表示。资本结构是企业财务结构的核心内容。研究资本结构 ,实质上是研究企业是否要利用长期负债筹资方式 ,如何确定最佳的资本结构。资本结构决策的方法包括定量分析法和定性分析法。本文主要研究定量决策 ,结合实例具体阐述了四种分析方法并进行了扼要评价。

On the Quantitative Decision of Capital Structure

Capital structure, generally represented by the proportion of long-term liability in the total capital, refers to the ratio of long-term liability to owner's equity in the total capital or long-term funds. Capital structure is the core of financial structure. The essence of capital structure study is whether the long-term liabilities should be involved and how to make the best capital structure. The methods of capital decision include quantitative analysis and qualitative analysis, the former of which is mainly concerned by this article. And with concise appraisal four analyses are specifically illustrated.