中文摘要：

企业资本结构动态调整俨然已成为资本结构研究的前沿领域，然而其基础理论并不成熟。综合了企业资本结果动态基础理论的观点，构建一个以目标资本结构、调整速度、调整路径和调整效率为核心要素的资本结构动态调整理论框架体系，该体系能够部分地融合动态平衡、优序融资、市场时机等资本结构理论。

英文摘要：

Dynamic adjustment on capital structure of enterprise has been a frontier field, although its theory is not maturity. Based on some viewpoint of current research, this paper constructed a theo- retical framework which is composed of target capital structure, adjustment speed, adjustment ap- proach and adjustment efficiency. The system can partially merge some theories such as Dynamic Tradeoff, Pecking Order and Market Timing.