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企业或公司的融资结构,指的是企业或公司融通资金的不同方式及融资数量之间的关系。企业从不同渠道获得的资金从性质上说是不同的,故对企业的运营及企业的所有权结构有着不同的影响。因而,对债务和股权的融资选择不应仅仅被看作是不同的融资工具选择,还应被看作是不同治理结构的选择,也即融资结构实际上是一种治理结构。
The financing structure of an enterprise or company refers to the relationship between the different ways in which the company or the company integrates funds and the amount of financing. The funds that companies obtain from different sources are qualitatively different, and therefore have different effects on the operation of the company and the ownership structure of the company. Therefore, the choice of financing of debt and equity should not only be seen as a different financing tool choice, but also should be regarded as the choice of different governance structures, that is, the financing structure is actually a governance structure.