The article analyzes the production and causes of bankruptcycost and explores distorted actions in agent cost and harmfulness of creditors on shareholders.
While, company's performance has a counteractive to the capital structure because of the imperfect of the market, tax, bankruptcycost and information asymmetry.
与此同时,由于市场是不完美的,税收、破产成本和信息不对称等因素将使公司绩效对资本结构产生反作用。
3
According to the capital structure theory of financial bankruptcycost, the debts bring out negative efficiency when debts come to a certain ratio since the financial bankruptcy increases.