债务融资对降低融资成本、改善管理者的经营激励、提高公司的业绩有着深远的影响。本文讨论了国外研究中关于债务期限结构的六个假说:代理成本假说、信息不对称假说、税收假说、发行成本假说、利息率风险假说和期限匹配原则假说,并根据这些理论假说分析了相关因素与债务期限结构的联系。 Debt financing has far-reaching implications for reducing financing costs, improving management incentives for managers, and improving the company’s performance. This paper discusses six hypotheses about the maturity structure of debt in foreign studies: the agency cost hypothesis, the information asymmetry hypothesis, the tax hypothesis, the issuance cost hypothesis, the interest rate risk hypothesis and the maturity matching hypothesis. According to these theoretical hypotheses, we analyze the related factors Relationship with the debt maturity structure.