Finally, the paper integrates the foregoing study outcomes, analyzing the underlying reasons thoroughly, which lead to dissimilar dividend policies in different equity structures.

最后，本文综合实证结果，深入剖析了不同股权结构下现金股利分配状况形成的原因。

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It may also mean that miners alter their capital structures to put more emphasis on debt, which is tax-deductible, rather than equity.

这可能也意味着矿商们将改变他们的资产结构以更多的强调负债而不是股权，因为负债是可以免税的。

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Borrowers' capital structures-the various layers of debt and equity, each with different rights in the event of default-are now more complex.

目前借款人的资本结构愈发复杂(发生违约时，负债和权益的层次不同，则权利各异)。

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Furthermore, in 1986, the U.S. had one of the lowest effective marginal corporate tax rates for equity-financed investments in machinery and industrial structures in the U.S., and now we have one of the highest.

FORBES: # 9 The 1986 reform hit tax shelters and arbitrage hard

That paper suggested companies shouldn't think of their capital structures as fixed--say 40% debt, 60% equity.

FORBES: Dow Jones Interactive

In the meantime, buy-out shops are already trying to figure out ways to adapt by changing the structures of their deals, says Steve Puccinelli of Investcorp, a private-equity firm.

ECONOMIST: Private-equity firms battle to keep their tax perks