基于行为金融的市场择时理论放开了有效市场的假设，从投资者的非理性角度研究公司资本结构，为资本结构的研究提供了一个新的视角。
Market timing that based on behavioral finance theory give up the Efficient Market Hypothesis and study the capital structure from the investor point of view of non-rational.
资本结构理论在解释某一个历史时期的企业资本结构时却不能解释另一个历史时期的企业资本结构。以至于不得不寻找新的内在动因和理论依据？
How come Western capital structure Theory that can account for enterprise's capital structure in one period can not do so in another period, and thus new theories are required?
首先在第四章，论文基于期权的有关理论分析企业资本结构的优化，运用B—S模型建立企业最优资本结构模型，并引用南京油运公司的情况进行测算，试图为企业最优资本结构提供新的思路。
At chapter 4, the paper establishes capital structure model and index of measuring financing risk by way of B-S model, and tries to search a new way for capital structure of corporation.
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