摘要
本文主要运用财务理论、代理理论和金融理论在逐步放宽有效资本市场假设、无破产风险假设的基础上 ,论述了企业经营活动与筹资活动的关系及经营前景对筹资方式的影响 ;并研究了企业在何种预期经营收益水平上选择权益资本筹资 ,在何种预期经营收益水平上选择债务资本筹资 ,在预期经营收益不能覆盖债务利息费用时企业应持何种态度等。
On the basis of the gradual widening of the effective capital market hypothesis and non-bankruptcy risks,this article discusses the relationship between enterprises’ operational activities and financing activities and the influence of the operational prospect on the financing method by the financial theory and corresponding theory.This article also researches on the following questions: on what kind of expecting operation returns can equity capital financing be chosen; on what kind of expecting operational returns level can liability capital financing be chosen; what kind of attitude should the enterprise hold when the expecting operational returns can’t cover the interest expense for the liabilities.
出处
《现代财经（天津财经大学学报）》
2000年第11期44-46,共3页
Modern Finance and Economics：Journal of Tianjin University of Finance and Economics
关键词
经营收益
权益资本筹资方式
债务资本筹资方式
operational returns
Equity Capital Financing Method
Liability Capital Financing Method
