The Capital Structure Research Of Chinese Corporate

As the Chinese stock markets have developed drastically, the economists do much research on corporate finance theory, and put them into practice. Looking back to these histories of western theories, they have experienced for more than 30 years of development. How to make these theories into use of Chinese securities markets, and construct Chinese capital structure theory are urgent problems for all the Chinese researchers.In these passages, we will use lot of statistic datum about the capital structure of Chinese corporate to drive to two types of problems existing now: the first is about the corporate right system and financing &management model of capital market. The second is about optimizing capital structure to achieve maximum of market value.Then deduce and explain the theories above from two point of view, symmetric and non- symmetric information. After that, the author gives some own views using game theory and microstructure theory of financial market.In the foundation of theoretical research, the author makes a definition of the Chinese capital structure theory system-system info to direct the theory in to practice. And build the system from two aspects.At last, the passage demonstrates the applicability of the western optimizing theory, and gives some suggestion to consummate corporate govenmence and stock market supervising system.