摘要:资本结构是企业理财的关键环节，也是公司治理的关键。资本结构在一定程度上决定一个企业的生存和发展。自20世纪90年以来，我国资本市场得到了迅猛地发展。企业的筹资渠道和筹资方式日趋多元化使得我国企业资本结构影响因素和优化问题的研究也更具有理论意义和实际应用价值，所以资本结构的优化已成为现代企业筹资决策中的核心问题。
本文从理论上分析企业资本结构的目标、影响因素及定量决策分析方法。最后提出我国企业资本结构存在的问题，并根据研究结果提出优化我国企业资本结构的对策和建议。
关键词：资本结构优化；资本成本分析法；每股利润分析法；公司价值分析法
Abstract:First of all, the capital structure is the key link of financial enterprises, is the key to corporate governance. Capital structure to a certain extent determines an enterprise's survival and development. Since twentieth Century,90 years since, Chinese capital market has been developed swiftly and violently. Corporate financing channels and financing diversity makes our country enterprise capital structure influencing factors and the research of optimization problems are more theoretical and practical application value, so the optimization of capital structure has become a modern enterprise financing decision-making core problem.
Based on the full study of domestic and foreign literature on the basis of the capital structure, capital structure is introduced the related concept and the development of capital structure theory history. From the theoretical analysis of capital structure of enterprise target, influence factor and quantitative decision analysis method. Finally proposed our country enterprise capital structure existence question, and according to the research results of the proposed optimization of capital structure of China's enterprises countermeasures and suggestions.
Key Words： Capital structure Optimization；Comparative cost of capital； Earnings per share analysis；Company value analysis method
本文在研究国内外资本结构文献的基础上，首先介绍了资本结构的相关概念及资本结构理论的发展史，接着从理论上分析了企业资本结构的影响因素并提出了相应的实证。并分析了国内企业目前存在的问题，还有相应的解决方法。从论证的角度来说，我国的资本结构单一，目前市场经济制度不健全，中国企业正处于市场经济制度过度阶段，中国政府应进一步完善市场经济制度，而企业在目前市场经济制度下和面对行业竞争环境下，应结合自身的情况，确定适合公司长久发展的资本结构。
