| Summary: | 碩士 === 國立高雄第一科技大學 === 財務管理所 === 94 === Abstract
Firm financing sources come from debt and equity issuing. Traditional capital
structure tries to optimize the ratios of debt and equity financing. Future uncertainty,
make decision-makers difficult to optimize capital structure without the use of the fuzzy
concept. Simple mathematical method may not be able to find the optimum solution
for firm. Implication of dynamic capital structure however is difficult for firms’
decision-makers to understand.
This research tries to use fuzzy linear programming to study the problem of
optimal capital structure. This paper adopts many comprehensively variables such as
cost of capital, financial distress, operating distress and growth of firms, and related
factors of capital structure to establish a fuzzy linear programming model of optimum
capital structure. With the assumption of earning before interest and taxes (EBIT) and
total assets given in the model, this paper achieves satisfactory empirical result useful
for the adjustment of capital structure.
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