The existing trend when capital structure is regarded as a separate area of the financial science limits the search
for optimal solutions by the set of tools used in the framework of this area. Thus, the optimal capital structure is to
be determined with the use of corresponding formulas and methods. However, in the authors opinion, the optimal
solution is also connected with other financial issues, in particular, with business valuation and market efficiency.
The authors propose an integrated algorithm, by means of which it is possible to define such a capital structure,
when the return on the equity capital is acceptable for the owners of the business while its risks are admissible.
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