
優化資本結構
In order to optimize capital structure, we need to keep it elastic.
為了優化資本結構,必須使資本結構保持一定的彈性;
Improve the financing method and optimize capital structure to enhance the solvency and development capability.
改善融資手段、優化資本結構,以提升償債能力和發展能力。
Finally, suggestion to optimize capital structure are putting forward, for example, ****** concrete analysis based on spe…
最後提出了要具體行業具體分析,具體企業具體分析等優化資本結構的一些措施。
How to optimize capital structure and improve enterprise value is a key issue in corporate theories.
如何通過優化企業資本結構提升企業的價值一直是資本結構研究的核心問題。
Third, the matching model of debts maturity structure enables business managers to keep the structure at a reasonable level so as to optimize capital structure.
再者,債務期限結構的匹配模型,使得企業管理者将債務的期限結構保持在科學合理的狀态,從而實現資本結構的優化。
Our listed companies should coordinate the development of both, optimize the capital structure and fully make use of the effect in creditor's right finance.
我國上市公司應協調發展股權融資和債權融資,從而優化資本結構,并充分利用債權融資的杠杆效應。
In order to optimize the capital structure, determinants of capital structure should be analyzed firstly.
研究資本結構決定因素,是優化資本結構的必要步驟。
According to the comprehensive capital-cost rate, the author analyzes how to optimize business capital structure.
根據綜合資本成本率,對企業優化資本結構進行了分析。
Finally, the thesis brings forward some assumption on how to optimize corporate capital structure.
本文在最後針對上述問題,提出了優化我國公司資本結構的一些設想。
Our membership in the Convention will help China's airline companies to extend their financing manners, reduce their cost of introducing aircrafts, and optimize their capital structure.
加入《開普敦公約》将有利于拓展我國航空公司的融資渠道,有效降低飛機融資成本,優化航空公司資本結構。
The rational financing strategies of a company can optimize its capital structure, and make the financial management more effective.
合理的融資策略能優化公司資本結構,并使公司財務管理更加有效。
Then advance how to optimize the capital structure in order to perfect our listed company's governance structure.
并對改善這些不利因素,優化上市公司資本結構,進而完善上市公司治理結構,提出幾點建議。
Given the strong debt markets, improving business conditions and other financing options, Seagate has initiated a plan to further optimize its capital structure to maximize shareholder returns.
基于活躍的債券市場,逐步改善的商業條件和其他財務方面的考慮,公司決定實施一項計劃來進一步優化資本結構,從而最大化股東的回報。
Capital structure related decision-****** is quite essential to an enterprise's financial decision. Thus, to optimize the capital structure has strong realistic significance for an enterprise.
資本結構的決策在企業融資決策中是至關重要的,優化資本結構對企業來講有着很強的現實意義。
They will contribute to increase the rate of capital sufficiency and optimize the capital structure in commercial banks.
有助于提高商業銀行資本充足率、優化商業銀行資本結構;
On these bases, some suggestions are proposed in this paper to optimize the capital structure from both the companies and national policy.
在前面實證研究的基礎上,本文從公司自身方面和國家政策方面給出了優化資本結構的建議。
Some advice is given here concerning how to optimize the capital structure of the public company based on the researchment on the reason and the content of the agency cost.
通過對以上三種代理關系形成的動因及其内容進行分析,對優化上市公司的資本結構提出一些建議。
The appropriate corporate governance structure can optimize the capital structure;
合理的公司治理模式可以優化資本結構;
At the end of this paper, I raise to optimize business capital structure based on the above findings.
文章最後,基于以上研究結果,本文根據實際情況,提出了如何優化公司資本結構的方法。
The suggestion is proposed finally, guidance for realizing the listed company of our country is offered. to optimize the capital structure and draw lessons .
最後提出建議,為實現我國上市公司融資結構優化提供指導與借鑒。
Follow that the final result puts forward an effective method to resolve this problem , and provides the theory support for real estate listed companies to optimize their capital structure actively.
在此研究的基礎上提出了有效的解決方法,為房地産上市公司優化資本結構提供理論支持。
Chapter 6 for the third part of the second part of the empirical basis of the results of the analysis put forward the north-west of listed companies to optimize the capital structure.
第6章為第三部分,依據第二部分的實證分析結果,提出了優化西北地區上市公司資本結構的措施。
At last, combining the empirical results, some suggestions have been given to optimize the capital structure and the value of the listed companies in our country from macro and micro angles.
最後本文結合實證分析結果,從宏觀環境以及微觀兩個角度對完善上市公司資本結構,對于提高企業價值提出了相應的建議。
For one thing, a proper dividends policy enables a company to have easier access to capital, reduce the cost of capital and optimize its capital structure.
一方面,合理的股利分配政策直接關系到企業融資渠道的暢通與否、融資成本的高低和資本結構的合理性;
These advices could help the listed companies optimize their capital structure and improve corporate performance.
希望這些建議可以幫助黑龍江省上市公司改善資本結構并提高公司績效。
The other is how to optimize SOEs' capital structure.
如何優化國有企業的資本結構。
At present, is it reform state-owned enterprise to face, the heaviest task of capital operation to vitalize stock advantage, optimize the structure of capital.
國有企業的資本運營目前最大的任務就是盤活存量資本,優化資本結構。
優化資本結構(Optimize Capital Structure)是指企業通過調整股權融資與債務融資的比例,以降低整體融資成本、提升企業價值的過程。其核心在于平衡財務風險與收益,實現資本成本最小化。以下是關鍵要點:
資本成本最小化
根據莫迪利亞尼-米勒定理(MM理論),在無稅環境下資本結構不影響企業價值,但引入稅收後,債務利息的稅盾效應可降低加權平均資本成本(WACC)。計算公式為:
$$ WACC = frac{E}{V} times R_e + frac{D}{V} times R_d times (1 - T_c) $$
其中 (E) 為股權價值,(D) 為債務價值,(V) 為企業總價值,(R_e) 為股權成本,(R_d) 為債務成本,(T_c) 為企業稅率。
風險與收益權衡
過度依賴債務可能引發財務困境成本(如破産風險),而過度依賴股權則可能稀釋股東權益。最優資本結構需在稅盾收益與財務風險間取得平衡。
動态調整融資比例
企業需根據市場利率、經營現金流和行業特性調整負債率。例如,科技企業通常維持低負債以保持靈活性,而公用事業企業可承受較高負債率。
利用混合融資工具
發行可轉債、優先股等工具,兼具債務的稅盾優勢和股權的風險緩沖功能。蘋果公司曾通過發行債券回購股票,降低WACC并提升股東回報。
可口可樂公司通過維持約70%的債務占比,利用低息債務擴張全球業務,同時通過穩定現金流覆蓋利息支出,持續降低WACC至5.2%(2022年報)。
參考資料
"Optimize capital structure"(優化資本結構)指企業通過調整債務與股權的比例,實現資本成本最小化、財務風險可控以及企業價值最大化的過程。以下是詳細解釋:
若需進一步了解具體案例或計算公式,可參考財務管理的專業文獻或教材。
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