| One of the oldest and most important issues in corporate financing is on what a corporation decided how to acquire the capital required in its investment and how to operate it, which, called the theory of corporation capital structure, is a substantial part of the micro-finance theory and firm theory. The main aim of studying the capital structure is not only to offer a theoretical explanation and prediction on the benefit relationship, the interaction mechanism and the cost and revenue of those who has a contract relationship with each other as well as the relationship between the capital structure and the value of the corporation, but of offer a theoretical direction for capital operation optimizing the capital structure constructing the optimal property right structure and improving the governance structure in a firm's practice.For shipping companies, it is important to think about financing capital structure during the process of financing. The differences of financing capital structure represent financing modes, financing risks and financing cost, so it is necessary to research on the financing capital structure which is the basic in financing decision-making for shipping corporations.The different financing structure has effect on capital cost due to the characters of shipping companies financing, such as larger money, higher risk and so on. With the change of concept from producing to capitalizing, it is so important to realize corporations' optimal station and capital efficiently running for the purpose of maximizing profit and capital amplification.The paper states the theories of financing capital structure and relative references. And then it analyzes the financing characters of shipping corporations, financing modes and environmental factors which effect on. Then it analyzes capital structure and how to choose the optimal capital structure, and applies qualitative and quantificational molds, which is the keystone of the paper. Last conclusions the paper. |
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