The Creditors Choice Theory Model Of Capital Structure Research

Since 1958 MM theorem being published, the capital structure question has received the financial economist's continually attention. How the capital structure is decided and adjusted, which is puzzling the theorists continuously. Has done the massive research work for this theorist to this question and has yielded certain result. But the majority fundamental research mainly is by the debt artificial main research main body, even if the related debt question research also mainly is the enterprise bond which can decide completely by the enterprise is the object of study, has not had to the capital structure another side creditor who decisiveness affects to carry on the profound discussion. This article takes the main object of study by debtor's capital structure, attempts the most representative creditor joins the benefit counterparts to the capital structure choice to the capital structure choice launches for the breakthrough point, in the discussion capital structure forming process's each influencing factor, the creditor and the debtor to capital structure's choice, the creditor and the debtor in the capital structure choice under the status, the different interest rate condition's creditor choose the capital structure theoretical model. This article will be to bank loans as a major study, to observe in the A-share market for the creditors of the debtor's choice of capital structure arising from the debtor's stock price changes, in order to test some of our current capital markets for the creditors of the debtor to choose the capital structure of the market Response. This article is aimed at trying to improve the capital structure and the decision of the adjustment mechanism and a capital structure used to judge the merits of the approach in the hope that the method adopted to improve the capital structure of China's current situation, so that the debtor's capital structure more rational.