摘要
自从莫迪格利安尼和米勒提出MM理论以来,资本结构问题一直是理论界和实务界关注的焦点。通过分析借鉴西方资本结构理论,结合我国转型经济背景下铁路运输企业发展的实践和特点,提出在政策性贷款、金融抑制、停息挂账和核销坏账、多目标损失、政策补贴等政策影响下铁路运输企业的权衡理论和模型,为我国铁路运输企业的资本结构优化提供理论基础。
Since Modigliani and Miller put forward the famous MM theory,capital structure has been the focus of research and practice.Based on analyzing the limitation of western capital theories and combining the practice of railway industry,this paper puts forward the capital structure theory and model of the railway transportation enterprise under the background transitional economy,which focus on the policy loan,financial restrain,ceasing interest, loss of multi-object,government subsidy.It obvionsly strengthenes theoretical embankment concerning capital structure optimization of railway transportation enterprises.
出处
《社会科学》
CSSCI
北大核心
2008年第8期57-63,共7页
Journal of Social Sciences
关键词
转型经济
铁路运输企业
权衡理论
Transitinal economy
Railway transportation enterprise
Trade-off theory
