论资本结构优化

论资本结构优化

摘要

资本结构是企业财务管理的重要内容，它影响并决定着企业治理的结构，它也影响企业融资行为及企业价值，它是否合理直接关系到企业的生存与发展。自20世纪90年代初，上海证券交易市场和深圳证券交易市场（以下简称“沪深两市”）建立以来，我国越来越多的企业走向资本市场并得到了迅猛地发展。但是，从上市企业的发展的过程中来看，这些企业面临着许多的困难和缺陷，尤其是资本结构存在许多不完善的地方，已经严重制约了企业自身的发展，使得企业业绩徘徊不前甚至业绩下滑，同时阻碍了我国资本市场的进一步发展，也制约了宏观经济的健康快速的运行。因此，研究我国企业资本结构优化的问题具有深远的现实意义。本文从资本结构及资本结构优化理论入手，分析我国企业资本结构现状及问题，在此基础上提出了调整和优化我国企业资本结构的对策。这对优化企业资本结构，健全和完善资本市场机制，具有一定的指导意义。

关键词财务管理；资本结构；优化；对策

Abstract

Capital structure is an important aspect of financial management, which affects and determines the structure of corporate governance, it also affects the behavior of corporate finance and corporate value, it is reasonable to enterprises directly related to the survival and development. Since the 20th century, early 90's, the Shanghai Stock Exchange and Shenzhen Stock Exchange (The following referred to as "The Shanghai and Shenzhen stock markets") Since the establishment of more and more enterprises in China to the capital market and rapid development. However, listed companies in the process of development, these enterprises are facing many difficulties and shortcomings, especially in the capital structure where there are many imperfections, has seriously hampered the development of their own, making enterprise performance stagnancy or even performance decline, while China's capital markets hinder the further development of the macroeconomic constraints of the healthy and rapid operation. Therefore, the study of Chinese enterprises to optimize the capital structure of the problem has far-reaching practical significance. In this paper, capital structure and capital structure optimization theory approach to analyze the capital structure of Chinese enterprises and the question of the status quo, in this based on the adjustment and optimization of capital structure of China's enterprise solutions. This will optimize the capital structure, and improve capital market mechanisms, has a certain significance.

Key words Financial management; Capital structure;Optimization; Countermeasures

目录

摘要 ........................................................................................ 错误!未定义书签。Abstract ................................................................................................................... I

第1章绪论 ........................................................................ 错误!未定义书签。

1.1课题背景 ........................................................ 错误!未定义书签。

1.2资本结构的意义 ............................................ 错误!未定义书签。

1.2.1资本结构的含义 (1)

1.2.2资本结构的种类 (1)

1.2.3 资本结构的意义 (2)

1.3资本结构优化的意义 (2)

1.3.1 资本结构优化的含义 (2)

1.3.2 资本结构优化在企业中的作用 (3)

第2章我国企业资本结构的现状及存在的问题 (4)

2.1我国企业资本结构的现状 (4)

2.2我国企业资本结构所存在的问题 (4)

第3章我国企业资本结构的分析 (7)

3.1 我国企业的资本结构成因分析 (7)

3.1.1 我国企业资本在结构上的问题 (7)

3.1.2 我国企业资本在功能上的问题 (7)

3.1.3 我国企业资本在所得税上的问题 (8)

3.1.4 我国企业资本在健全的公司破产制度上的问题 (9)

3.2 我国企业资本结构不合理的成因分析 (9)

第4章调整和优化我国企业资本结构的对策 (12)

4.1 逐步降低非流通股比例，完善企业股权结构 (12)

4.2 企业加强自身管理，改善公司治理结构 (12)

4.3 加强资本运营 (14)

4.4矫正资本市场的功能缺陷，强化资本市场社会资源配置的功能14