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资本结构决策是公司融资决策中的一个重要组成部分,一般是指权益资本与债务资本之间的比例关系。而在讨论资本结构对公司治理的影响时,资本结构还有更深一层的含义——除了权益资本与债务资本的比例关系,还包括权益资本和债务资本本身的构成及相互之间的比例关系,即“广义的资本结构”。税收作为重要的外部因素,对企业资本结构的选择产生重要影响。
Capital structure decision-making is an important part of corporate financing decisions. It generally refers to the proportional relationship between equity capital and debt capital. When discussing the influence of capital structure on corporate governance, the capital structure has a deeper meaning - in addition to the proportional relationship between equity capital and debt capital, it also includes the composition of equity capital and debt capital itself and the proportional relationship between them. , ie “broadly defined capital structure”. As an important external factor, taxation has an important influence on the choice of a company’s capital structure.