非对称信息下的公司资本结构优化理论与选择机制研究

This project takes “Capital Structure Optimizing Theory and Selecting.Machanism of Firms under Asymmetric Information” as its theme, carries out more systematical and profound research in China. This research undergoes from the following four perspectives:①the conflicts among stockholders, creditors, managers and customers in corporate financing decision making; ②the factors which influence financing decision making;③decision model of financial policy making;④contract.design and incentive, constraining mechanism. This project pays much attention to the analysis of capital structure decision in asymmetric information and achieves some.very important research results. This project is the first one that puts forward the theoretical framework of analyzing capital structure under Chinese transitional economic system . Meanwhile, industrial organization theory and contract theory are.applied in the analyses of this project; some of topics in the project are discussed for the first time in China. The academic achievement has very important theoretical and.applicable value, and is benefit to the optimizing the financing decision and the sustainable development of the listed firms in China.

本项目采用规范分析和实证分析相结合的研究方法,定性与定量地研究非对称信息下的公司时窘峁褂呕砺酆脱≡窕?其研究角度界定为在转型经济体制下,我国现代公司融资行为平?以便克服我国企业融资决策严重依赖于管理者的个人行为和经验,促进股东财富的Ｖ怠⒃鲋导吧鲜泄境中】档胤⒄?从而具有重要的学术价值和现实意义。