Príspevok k teórii optimálnej kapitálovej štruktúry podniku

A contribution to an optimal capital structure theory of an enterprise

Rudolf Sivák and Jana Mikócziová

Politická ekonomie, 2002, vol. 2002, issue 1

Abstract: The problem of optimal capital structure of an enterprise and its impact on the market value and the overall financial costs of an enterprise have been in the centre of attention of the corporate finance theory and practice already for some decades. The capital structure optimisation is relatively a complex issue. Modigliani and Miller defined the theory principles. Other model approaches (trade-off model, hierarchic order theory, information asymmetry models) are mostly aimed at the definition of an optimal ratio of debt with a fixed interest rate over equity. The application of different model approaches is very difficult in practice, but it is very important for a successful management of the optimal capital and financial structure in transitive economies. It can also be evidenced by the financial practice of companies in developed market economies, where these approaches are being used in the practical and financial decision-making process.

Keywords: optimal capital structure theory of an enterprise; MM model; trade-off model; capital structure models based on information asymmetries; application of theoretical models of optimal capital structure in practice (search for similar items in EconPapers)
Date: 2002
References: Add references at CitEc
Citations:

Downloads: (external link)
http://polek.vse.cz/doi/10.18267/j.polek.350.html (text/html)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpol:v:2002:y:2002:i:1:id:350

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://polek.vse.cz

DOI: 10.18267/j.polek.350

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().