This could be achieved in the absence of an all-wise regulator by using the cost of credit-default swaps (CDSs), which insure against default, as a guide to the right capital structure.
这句话的大意是：利用CDS(信贷违约掉期：一种违约保险)的价格作为正确资本结构的指南，这种做法可以在全能的监管者不存在的情况下得以实现。
The capital structure not only affects capital cost and total prices, but also the structure of corporate governance.
资本结构不仅影响企业的资本成本和企业总价值，而且影响企业治理结构。
This paper tries to discuss optimal capital structure decision based on transaction cost view of firm.
本文试图基于企业的交易成本观点来探讨最优资本结构决策问题。
According to MM theory with bankruptcy cost and tax, capital adequacy regulations are fully effective only if the capital ratio stipulated by management and optimal capital structure is consistent.
按照存在破产成本和税收情况下的MM理论分析，只有管理当局确定的资本比率和银行最佳资本结构一致时，资本充足性管制才是完全有效的。
Cash discharge and enterprise cost have become basic and core concepts since MM capital structure theory was presented in the 1950s.
自1950年MM资本结构理论提出以来，“现金流量”与“企业价值”便成为现代财务理论的基本的、核心的概念。
According to the comprehensive capital-cost rate, the author analyzes how to optimize business capital structure.
根据综合资本成本率，对企业优化资本结构进行了分析。
The objective is therefore to find the capital structure that gives the lowest overall cost of capital and, consequently, the highest company value.
因此，我们的目标是找到资本结构，给出了最低的资本总成本，因此，这种状态就是该公司的最高值。
Aiming at this problem, this paper explains the application of comparison fund cost and lucre of per share analytical methods in detail to determination of optimal capital structure.
针对这一问题，比较详细地介绍了每股利润分析法、比较资金成本法在确定最佳资金结构中的运用。
According to the capital structure theory of financial bankruptcy cost, the debts bring out negative efficiency when debts come to a certain ratio since the financial bankruptcy increases.
根据财务危机成本的资本结构理论，当负债达到一定比例后，由于财务风险的增加，负债对企业价值产生负效应。
So we should consider and analyze these measures comprehensively from its capital cost and structure, and the enterprises' value.
所以评价债转股要从企业的资金成本、资本结构、企业的价值等方面综合考虑、分析。
When the off-set tax is equal to the cost of bankruptcy, the optimum capital structure point is reached.
而抵税收益与破产成本两者相同时，则达到了企业的最佳资本结构点。
The system introduces how to put up effective risk management and financial control in the capital structure adjustment n layout cost and reduce the financial risk.
系统介绍在调整资本结构、规划成本、降低财务风险方面，进行有效的风险管理和财务控制。
We also research into the impact of Chinas income tax regime on corporate capital cost and structure ac cording to Chinas specific situations.
本文还根据中国的实际，研究中国现行的所得税制度对公司资金成本和资本结构的影响。
For debt also has agency cost, an enterprise has to weigh between equity agency cost and debt agency cost when making capital structure decision.
但由于债务本身亦存在代理成本，因此，企业资本结构决策必须在股权代理成本与债务代理成本之间做出权衡。
Western financial scholars introduced information asymmetry into capital structure, dividends policy and agency cost, and obtained some achievements.
西方的财务学者将信息不对称理论用于资本结构、股利政策及代理成本，业已取得了一些成果。
The methods which can measure the capital structure of corporations, include comparing fund cost, equity capital interest rate and analyzing lucre of pers hare.
衡量企业资本结构的方法通常有比较资金成本法、权益资本利润率法和每股收益分析法。
Enterprise should make sure of the best structure of capital through a suitable measurement, thus to minimize the cost of capital and maximize its business value.
企业在生产经营中，应该运用适当的方法确定最佳资本结构，使企业的平均资本成本最低，企业价值最大。
A rational capital structure is important to reduce agent cost, improve corporation governing efficiency and increase corporation profits.
一个合理的资本结构对降低代理成本、改善公司治理效率、提高公司经营绩效有着重要的作用。
Modern capital structure theory thinks that the reasonable arrangement of capital structure can decrease capital cost and increase enterprise value.
现代资本结构理论认为，通过资本结构的合理安排可以降低资本成本提升企业价值。
The optimum capital structure is the ratio of long-term liabilities to equities when the average cost of capital is lowest and the value of enterprise is max.
企业最优资本结构是指使企业平均资本成本最低且企业价值最大的债务资本和权益资本的比例关系。
The regulation and optimization of capital structure is to make the capital structure of enterprises best mainly by changing the capital financing cost via the change of liability level.
资本结构的调整与优化，主要是通过负债水平的变动引致资本筹资成本变动，使企业的资本结构最佳。
According to modern Capital Structure Theory, there is a reasonable range for Capital Structure in a company, which is decided by the compromise of tax, cost of bankruptcy and dealership, etc.
根据现代资本结构理论，公司事实上存在着资本结构的合理区间，该区间取决于税收、破产成本、代理成本等多方面因素的权衡结果。
This paper studies the effect of products value structure and time cost of capital on the choices of supply chain postponement strategy.
研究资金时间价值和不同的产品价值构成对延迟策略选择的影响问题。
Due to the special in equity structure, Chinese state-owned listed companies have theirs own particularity in cost of capital and dividend policy.
我国国有上市公司，由于股权结构上的特殊性，其资本成本和股利政策上更具特殊性。
While, company's performance has a counteractive to the capital structure because of the imperfect of the market, tax, bankruptcy cost and information asymmetry.
与此同时，由于市场是不完美的，税收、破产成本和信息不对称等因素将使公司绩效对资本结构产生反作用。
There are different methods of capital structure decision, common methods are cost of capital comparison method, earning per share indifference point method and enterprise value comparison method.
资本结构决策有不同的方法，常用的方法有资本成本比较法、每股收益无差别点法和企业价值比较法。
Empirical part of this paper is divided into two main parts: the first part is the empirical research on the relationship between capital cost, capital structure and dividend policy.
本文实证部分主要分为二个部分：第一部分，对资本成本、资本结构与股利政策的关系进行实证研究。
Generally considered, the best capital structure will enable the company to the total value of the highest, lowest cost of capital.
一般认为最佳的资本结构应当是可使公司的总价值最高，同时也会使得公司的资本成本也是最低的。
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.
通过对以上三种代理关系形成的动因及其内容进行分析，对优化上市公司的资本结构提出一些建议。
However, if the market structure is endogenous, then a capital inflow tends to be immiserizing because it increases entry and lets firms increase their average cost.
然而，如果市场结构是内生的，由于资本流入导致新企业进入市场，从而提高了企业的平均成本，这样，资本流入反而会有贫困化效应。
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