西方新资本结构理论综述  

A Summary of Western New Capital Structure Theory

作　　者：陈柳钦[1] 

机构地区：[1]天津社会科学院城市经济研究所,天津300191

出　　处：《区域金融研究》2010年第1期34-40,共7页Journal of Regional Financial Research

摘　　要：资本结构理论所研究的基本问题是企业资本结构与企业价值的关系。西方经济学界围绕这一基本问题展开了全面深入的研究,形成了许多不同的资本结构理论。20世纪70年代以来,随着信息经济学、委托代理理论等现代分析工具引入资本结构分析,资本结构理论研究获得了新的发展,一系列解释资本结构问题的新观点便应运而生,其流派众多,具有代表性的理论有以下几种:代理成本理论、信号传递理论和优序融资理论等。The basic problem of Capital structure theory structure and business. In western economic circles , around study , and forming a number of different capital structure information economics, principal-agent theory, and other analysis, capital structure theory had a new development, explain the capital structure . In many schools, there had is the relationship between value of firm＇s capital this fundamental issue a comprehensive in-depth theory. Since the 70 years in 20th century, as modern analytical tools into the capital structure and there were a some representative series of new perspectives to theory as follow： agency cost theory, signaling theory and pecking order theory.

关 键 词：代理成本理论 信号传递理论 优序融资理论 新资本结构理论 

分 类 号：F830[经济管理—金融学]