| Summary: | 碩士 === 國立高雄第一科技大學 === 金融營運所 === 96 === Estimating the Optimal Capital Structure—Divided by Industries
ABSTRACT
Capital structure is an important part of a company’s policy. Due to MM theory, capital structure has become the main issue of making policies. This paper uses multiple quadratic equations trying to prove that if the optimal capital structure is exist. This paper uses the debt ratio as the factor of making the capital structure, and also add many control variables. In addition, this paper uses the quadratic of debt ratio as the key point of the entire equation to estimate the optimal debt ratio.
This paper uses the six-year data during 2001/1/1~200612/31, and estimates the optimal debt ratio in different industries. The total data includes sixteen industries, in these sixteen industries, five of them aren’t evident, and the rest of them eleven are evident. And this paper also make the optimal debt ratio of each industry.
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