毕业论文（设计）用纸
摘 要
资本结构是指企业各种资本的构成及其比例关系，资本结构是企业理财的关键。资本结构是否合理将会直接影响到企业目前和将来的发展状况,甚至会影响到企业的生死存亡。所以寻求企业的资本结构的优化是企业理财决策的重要问题。最优业资本结构使资本成本最低、企业价值最大化。随着我国社会主义市场经济的发展和现代企业制度的建立，企业的筹资渠道和筹资方式日趋多元化，合理地利用负债筹资，科学地安排其比例，对企业降低综合资本成本率、合理利用财务杠杆获得一定利益和增加企业的市场价值等方面有着重要的意义。然而，从目前的实际来看，我国企业的资本结构不容乐观，在产权比率上，资本来源结构不合理，负债比例过高，在负债方面，流动负债比重较大，负债筹资结构不合理。因此，如何使企业的资本结构进一步优化，是亟需思考和探寻的问题。
关键字：中小企业；资本结构；优化配置；
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毕业论文（设计）用纸
ABSTRACT
Capital structure is to show enterprise various capital formation and its proportional relations ，capital structure is the key enterprise finance.Capital structure whether reasonable will directly affect the enterprise at present and future development ,even affect the survival of enterprises.So seek corporate capital structure optimization is the enterprise financial decision-making important question. Optimal industry capital structure makes capital lowest cost and the maximization of enterprise value. With China's development of socialist market economy and the establishment of a modern enterprise system, enterprise's financing channel and finance approach increasingly diverse, rational use of debt financing, arrange scientificly its proportion of enterprise to reduce comprehensive capital cost rate, the reasonable use of financial leverage access to certain interests and increase enterprise market value has important significance. However, from the current real terms, our country enterprise's capital structure is not optimistic, in property ratio, the structure unreasonable, capital sources, liabilities high proportion of current liabilities in liabilities, greater proportion, debt financing structure is reasonable. Therefore, how to make the enterprise's capital structure was further optimized, is thinking about and seeking problems need.
Key words: Small and medium-sized enterprises; Capital structure; Optimized allocation
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毕业论文（设计）用纸
目 录
摘 要······································································································································1 目 录······································································································································3 前 言······································································································································5 一、企业的资本结构的相关概念··························································································6
（一）企业资本结构的含义··························································································6 （二）最优企业资本结构的含义··················································································6 （三）资本结构理论······································································································7
1、传统资本结构理论····························································································7 2、现代资本结构理论····························································································9
二、 我国中小型企业资本结构的现状··············································································12
（一）负债结构不合理································································································12 （二）股权结构不合理································································································13 （三）企业之间互相拖欠资金····················································································13 （四）资本结构不合理原因分析················································································14
1、中小型企业自身缺陷······················································································14 2、政府和金融市场的支持力度不够··································································14
三、我国中小型企业资本结构优化配置措施····································································16
（一）强化中小型企业资本结构的意识····································································16 （二）选择合理的资本结构························································································16
1、企业资本结构选择的相关因素······································································16 2、企业确定最佳资本结构的方法······································································17 （三）建立合理的资本结构························································································18
1、完善企业股权结构··························································································18 2、提高企业盈利能力实现合理负债··································································20 3、应建立健全监督机制规范经营者行为··························································20
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毕业论文（设计）用纸
4、加强资金管理力度··························································································20 5、拓宽自身融资渠道··························································································21 （四）建立健全的现代企业制度················································································21 结 论····································································································································24 致 谢····································································································································25 参考文献：····························································································································26 附录一····································································································································27 附录二....................................................................................................................................28
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毕业论文（设计）用纸
前 言
资本结构对企业的经营至关重要，所谓资本结构，是指企业各种长期资金来源的构成和比例关系。长期资本来源包括长期债务资本和权益资本，因此资本结构通常是指企业长期债务资本与权益资本的结构和比例关系。我国加入WTO以后，必须迅速融入到经济全球化的进程中，在全球证券、金融市场融资。资本结构是否合理，将直接关系到企业能否获得国际投资者的信任，能否在国际市场竞争中取得良好的经营业绩和长远发展。资本结构理论是研究这一比例关系对企业价值的影响，以及是否存在最优资本结构问题的理论.
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