现代资本结构理论对我国国有企业资本结构优化有重要的借鉴作用。我国国有企业资本结构优化的标准应是 :企业市场价值最大化和投资者投资收益最大化的统一。为此 ,需要调整国有企业负债率与资本利润率的不对称 ;调整国有上市公司对股权融资的过度偏好 ,以使国有企业步入良性循环的轨道 The Theory of Modern Capital Structure Has Important Reference Function for Optimizing the Capital Structure of Chinese State - owned Enterprises. The optimization of the capital structure of state-owned enterprises in China should be: the maximization of the enterprise's market value and the maximization of investors' return on investment. To this end, it is necessary to adjust the asymmetry between the debt ratio of state-owned enterprises and the capital profit rate; to adjust the over-preference of state-owned listed companies in equity financing so that state-owned enterprises can enter the track of virtuous circle