本文从不完善因素的角度对相关公司财务理论进行了系统的回顾,通过理论梳理重点阐释了在税收利益、破产成本、代理冲突以及信息不对称等不完善因素的作用下,公司投融资决策存在的相互作用的关系。本文的研究全面地揭示了投融资决策间潜在的互动机理,对深化企业决策者对投融资决策的认识,进而促进决策效率的提升具有非常重要的意义。
This paper reviewed the related theories of corporate financing based on the view of imperfection factors, and then enlightened the analysis of the mutual relation between corporate investments and financing decisions, resulted from imperfection factors including tax benefits, bankruptcy costs, agency conflicts and asymmetric information. Therefore it systematically exposed the mechanism of interactions of investment and financing, which helps the decision - makers to deepen understanding of decisions of investment and financing hence advance efficiency of corporate decisions.