Optimizing of the Capital Structure of the Concrete Firm in the Theory and Practice of the Temporary Corporate Finance

摘要

The aim of this article is to analyze the theoretical and practical problems concerning optimizing of the capital structure of the concrete firm and to answer the question if it is possible to prepare the recommended process for this optimizing. The most important problem in a theoretical way is to identify the theory which best fit. The firm has to decide firstly if to start the process of active optimizing or if it is satisfied with the following of branch standards or it is satisfied with complying with the pecking order theory. In case of active optimizing process firm could use theories stipulating the concrete empirical value, the traditional theory and the theory of spouses Neumaiers'. In case of using the traditional theory it is necessary to cope with the problems of identifying the cost of equity and debt in dependency on the indebtedness. The optimal capital structure is not possible to identify, but only to estimate because of the different approaches to the solution of the application problems of single theories. The optimal capital structure will also vary because of the subjective approach to the process of optimizing. Nevertheless the wider manual how to cope with the process of the optimizing of the capital structure of the concrete firm is possible to prepare.