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资本结构是指企业各种长期资本来源的构成和比例关系。通常情况下，企业的资本由长期债务资本和权益资本构成，资本结构指的就是长期债务资本和权益资本各自所占的比例。资本结构是反映企业资金实力和评价企业整体风险的重要指标，也是衡量企业偿债能力的重要尺度。企业融资是现代企业发展不可或缺的一个重要环节，企业融资直接影响着企业的资本结构，可以说资本结构是企业融资安排的结果。

Capital structure refers to a variety of long-term capital sources of corporate structure and proportional relationship. Under normal circumstances, the company's capital from long-term debt capital and equity capital structure, capital structure refers to the long-term debt capital and equity capital respective proportion. Capital structure is a reflection of the strength of corporate funds and evaluation of an important indicator of the overall risk enterprise, but also an important yardstick to measure corporate solvency. Corporate finance is an integral part of the modern enterprise development is an important aspect of corporate finance direct impact on the capital structure, capital structure can be said to be the result of corporate financing arrangements. So how about corporate finance companies optimize the capital structure of the problem has become a financial research in the field is an important topic.

1985 U.S. Professor Modigliani and Miller Professor of the "cost of capital, corporate finance and investment theory" (abbreviated MM theory) marks the birth of modern capital structure theory. MM theorem states that, if the company's investment decisions and financing policy is relatively independent, no corporate income tax and personal income tax, there is no risk of bankruptcy for the company, the full and effective operation of capital markets (perfect capital markets), the company's capital structure and the company's market value independent of the famous "irrelevant theorem" (Irrelevence Theorem). In the past half century, the academic research on capital structure has been going on, but the most influential research is still a theoretical framework based on the MM to be extended and expanded, so that MM theory is the origin of the modern theory of capital structure . MM theory after years of expansion and abandoned, and gradually relax its strict assumptions, because different scholars of different focus, so the development of a diverse funding wooden structure theory. Formation about the company's capital structure of the four main schools: Taxes bad school, trade-off theory, agency costs that asymmetric information theory, pecking order theory, based on the theory of control.

资本结构优化问题主要研究公司如何获得投资所需要的资金以及此投资资金是如何运作的，并且在给定投资决策的前提下，公司能否通过改变资本结构来改变其价值，即确定公司的最优资本结构并实现最优。

Capital structure optimization problems mainly investment research company How to get the funds needed, and this is how it works investment funds, and investment decisions in a given context, by changing the capital structure of the company's ability to change its value, that determine the company's most optimal capital structure and optimal. Optimize the capital structure, determine a reasonable capital structure, can make the enterprise funds to achieve a virtuous cycle, reduce capital costs, reduce financial risk, improve corporate solvency and performance.
Theoretically, any business should exist an optimal capital structure, but in practice it is difficult to accurately determine the optimum structure. Because in practical work, which must give full consideration to the country's economic environment and the circumstances of their own, carefully study and analyze the impact of cor