Relationship of environmental dynamism,strategic assets and debt financing
环境动态性、战略资产与债务融资

This paper provided an optimal capital structure model,in which we maximized the company's value as the objective function of the problem.In the model,output decisions and financing decisions were affected by environmental dynamism including competition in product market,demand fluctuation and technology shock.We designed the objective function by introducing demand fluctuation and technology shock directly.In the objective function,we also considered indirectly the competition in product market by adjustin...