摘要
在金融危機(jī)的大背景下，企業(yè)的資本結(jié)構(gòu)是否優(yōu)化關(guān)乎著企業(yè)的生存和發(fā)展。由股權(quán)資本與債權(quán)資本的比例表示的資本結(jié)構(gòu)，它反映的是市場(chǎng)經(jīng)濟(jì)條件下的金融關(guān)系，即以資本和信用紐帶，通過(guò)投資與借貸構(gòu)成股東、債券人和經(jīng)營(yíng)者之間相互制約的利益關(guān)系。隨著我國(guó)經(jīng)濟(jì)制度的不斷完善，許多企業(yè)已經(jīng)開(kāi)始注重完善自身資本結(jié)構(gòu)以求發(fā)展。資本結(jié)構(gòu)的優(yōu)化，輕則影響融資，重則導(dǎo)致破產(chǎn)。因此，不論是分析還是優(yōu)化資本結(jié)構(gòu)對(duì)企業(yè)都具有緊迫性和現(xiàn)實(shí)意義。
由于資本結(jié)構(gòu)是企業(yè)財(cái)務(wù)管理和資本運(yùn)營(yíng)中的一個(gè)重要內(nèi)容，通過(guò)企業(yè)資本結(jié)構(gòu)的研究可以提高企業(yè)籌資效益和降低籌資風(fēng)險(xiǎn)，能夠全面綜合反映企業(yè)的經(jīng)營(yíng)狀況。要求企業(yè)經(jīng)營(yíng)者不僅要對(duì)各種財(cái)務(wù)指標(biāo)進(jìn)行分析，還要考慮到納稅影響、融資環(huán)境影響、經(jīng)濟(jì)周期影響等。由于，精準(zhǔn)的資本結(jié)構(gòu)的分析，可以以期降低風(fēng)險(xiǎn)、提高效益。從企業(yè)風(fēng)險(xiǎn)管理的角度，研究企業(yè)資本結(jié)構(gòu)優(yōu)化問(wèn)題，對(duì)于推進(jìn)我國(guó)現(xiàn)代企業(yè)制度的建立和完善，保障企業(yè)更好的生存與發(fā)展，從而促進(jìn)我國(guó)國(guó)民經(jīng)濟(jì)的健康、可持續(xù)發(fā)展，具有明顯現(xiàn)實(shí)意義和一定的學(xué)術(shù)價(jià)值。

關(guān)鍵詞 資本結(jié)構(gòu) 債權(quán)資本 資本結(jié)構(gòu)優(yōu)化

Abstract
Under the economic crisis condition, enterprise's survival and the development is not impossible to have no investment and financing, By equity capital and debt capital, said the proportion of the capital structure, It reflects a market economy under the conditions of financial relations, that is, a link to the capital and credit, investment and lending through the composition of shareholders, the bond between the operators and the constraints of a conflict of interest
Capital structure as a result of the enterprise financial management and capital operation of an important The request enterprise operators carry on the regular financial analysis, Guard finance crisis, The establishment early warning analysis target system, carries on the suitable finance venture decision. Therefore, conducts the research to the financial risk origin and the guard, reduces the risk by the time, enhances the benefit. from the perspective of enterprise risk management, research firm control of financial risks, promoting China's establishment of modern enterprise system and improve and protect enterprises better the survival and development, so as to promote China's national economy's health, sustainable development, with Obviously some of the practical and academic value.

Key words capitial structure debt captial Optimization of capital structure