现代资本结构理论表明，公司资本结构确实影响公司价值。
The theory of modern capital structure indicate the corporate structure really influences company's value.
现代资本结构理论认为，通过资本结构的合理安排可以降低资本成本提升企业价值。
Modern capital structure theory thinks that the reasonable arrangement of capital structure can decrease capital cost and increase enterprise value.
按照现代资本结构理论，企业资本结构的选择影响企业资本的使用效率，最终影响企业的价值。
According to the modern capital structure theory, the choice of capital structure influences corporate capital efficiency which will ultimately affect the value of the enterprise.
通过分析现代资本结构理论，得到了负债经营可为电力企业带来避税效应和财务杠杆利益的启示。
The inspiration from the theory of modern capital structure is that indebtedness can bring tax avoidance and income from financial leverage to electric enterprises.
文章从实证的角度分析后，发现我国国有上市公司资本结构的安排在一些方面是与现代资本结构理论相悖的。
Article from an empirical point of view, we found that the state-owned capital structure of listed companies in some respects the arrangement is contrary to modern capital structure theory.
现代资本结构理论的主要缺陷是无法很好的解释许多企业在税收利益很大、破产成本很小的情况下，仍然保持很低的负债水平。
The major flaw of modern capital structure theory is that it cannot explain very well many enterprises remain low debt levels when tax benefits is large and bankruptcy costs is small.
根据现代资本结构理论，公司事实上存在着资本结构的合理区间，该区间取决于税收、破产成本、代理成本等多方面因素的权衡结果。
According to modern Capital Structure Theory, there is a reasonable range for Capital Structure in a company, which is decided by the compromise of tax, cost of bankruptcy and dealership, etc.
根据现代资本结构理论，公司事实上存在着资本结构的合理区间，该区间取决于税收、破产成本、代理成本等多方面因素的权衡结果。
According to modern Capital Structure Theory, there is a reasonable range for Capital Structure in a company, which is decided by the compromise of tax, cost of bankruptcy and dealership, etc.
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