浅析企业资本结构和剩余股利政策的选择

股利分配是指公司制企业向股东分派利润,是企业利润分派的一部分,换一个角度也就是企业的内部筹资决策,所以股利决策并非一项独立的财务管理内容。对于企业筹资来讲,最经济的筹资方式就是利用留存收益。在保持目标资本结构的前提下,尽可能利用留存收益来满足投资所需要的权益资本,这将有助于企业选择资本成本最低的筹资方式,从而实现企业价值最大化的目标。

ENTERPRISES' STRUCTURE OF THE CAPITAL AND THE CHOICE OF SURPLUS DIVIDENT POLICY

The dividend distribution means that the enterprises assign profits to the shareholders,it is a part of enterprises' profit apportion and decision made by the inside of enterprises to raise funds.So the decision of the dividend is not an independent financial administration content.The most economic fund-raising way for the enterprises is utilizing and retaining incomes.On the premise of keeping goal capital structure,meeting rights and interests advantage needed to make the investment to come to utilize will help enterprises choose the lowest fund-raising of the capital cost,thus realize the goal of the maximum of enterprise value.