摘要
阐述了资本结构的理论和企业决策的目标。以企业筹集资本的目的为目标函数 ,以各种限制条件为约束函数建立了两个线性规划模型 (以下简称LP模型 ) :普通股收益最大化的资本结构LP模型和资本成本最小化的资本结构LP模型。说明企业的筹资决策要综合考虑成本、风险和收益 ,在满足资金需要的前提下 ,应努力降低资本成本和财务风险 ,同时争取较高的股东收益。
The paper expounds the theory of capital structure and the target for enterprises' decision and sets up two LP models based on purpose functions which aims at raising capital and on restraint functions. One LP model of capital structure means the maximum of returns of common shares and the other LP model refers to the minimum of capital cost. When enterprises makes out their decision, they must put cost, risk and returns into consideration, reduce capital cost and accounting risk under the conditions of satisfying the need for capital and try to gain the best returns for shareholders.
出处
《山西财经大学学报》
北大核心
2001年第5期88-90,共3页
Journal of Shanxi University of Finance and Economics
基金
国家自然科学基金项目 (B5 - 30 6 - 40 7)
