| 基于代理成本的企业融资决策 |
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| 引用本文： | 李月娥,李江涛,张馨. 基于代理成本的企业融资决策[J]. 财会通讯, 2005, 0(11) |
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| 作者姓名： | 李月娥 李江涛 张馨 |
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| 作者单位： | 中国地质大学管理学院 湖北武汉430074 |
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| 摘 要： | 本文从代理成本的概念入手,分析了企业融资过程中产生的代理成本,包括股权产生的代理成本和债权产生的代理成本,论述了企业可以通过确定最优融资结构、进行包括降低企业股权代理成本和降低企业债权代理成本在内的融资决策来降低企业的代理成本、实现企业价值的最大化。
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| 关 键 词： | 代理成本 融资决策 最优融资结构 |
The Enterprise Financing Decision on the Basis of Agent Cost |
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| Li Yuee Li Jiangtao Zhang Xin. The Enterprise Financing Decision on the Basis of Agent Cost[J]. Communication of Finance and Accounting, 2005, 0(11) |
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| Authors: | Li Yuee Li Jiangtao Zhang Xin |
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| Abstract: | This article analyses the agent costs in the course of enterprises financing, including the agent cost produced by exterior stock and the agent cost produced by liability. The authors discuss the methods to reduce the agent cost and achieve the maximum of enterprise value through ascertaining the optimum financing structure and actualizing the financing decision that consists of reducing the agent cost of exterior stock and reducing the agent cost of liability. |
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| Keywords: | Agent Cost Financing Decision Optimum Financing Structure |
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