摘要：上世纪实行的改革开放对中国经济的发展无疑是一次壮举，实现了中国经济的一场更新，建立了先进的企业管理制度，引进了新的管理理念，完成了从计划经济到市场经济的华美转变，但是在经济发展变化阶段内，企业的筹资渠道和筹资方式日趋多元化，长久以来积聚在企业内部的矛盾与企业迅速发展的要求越来越格格不入。负债的不合理增加、不符合常理的企业资本结构等这些因素都严重威胁了企业的健康发展，无法与企业自身的定位协同变化。因此，对于我国想要不断壮大自身实力的企业而言，如何使得企业资本结构和企业的负债比例合理化是其必须要深思熟虑谨慎抉择的重要任务。

　　　通过层层递进深入分析，力求找到上峰水泥公司资本结构存在的问题并提出优化的方案，从而广而化之。本文总共四个章，分别前来阐述上峰水泥资本结构及其优化问题：第一章系统介绍论文选题背景及意义、国内外研究现状、研究内容和方法，对本文的主要结构内容进行了阐述；第二章系统阐述资本结构涵义、内容理论观点及优化资本结构的意义；第三章着重介绍铜陵上峰水泥股份有限公司：对企业的整体全貌以及企业的发展进行论述，深入了解企业的筹资和融资渠道、各项资本在企业总的资本中所占的比例、企业资本的构成合理与否，从而分析出铜陵上峰水泥股份有限公司资本结构不合理的原因；第四章主要是了解各个资本构成比例之后，发现资本构成中的合理与不合理部分，从而针对不合理部分提出一定的优化和整改措施，使企业的资本得到优化。 

关键词 资本结构；负债水平；资本优化；债务资本

Abstract：In the last century the policy, namely reform and opening up, is undoubtedly a wonderful performance to the development of economy. It establishes a new enterprise system, recommends new management concepts and makes it possible to change planned economy into market economy, which is an update of China’s economy. But at the present stage sources and ways of funding and financing have diversify and the contradiction between the inner part and outside part has become more and more incompatible with each other. The debt is too high and the debt capital is counterintuitive, which is bad for the development of the enterprise. So it is quite important for those who want to improve themselves and continue to grow its power to choose the capital structure that suits them best.

　　　This paper tries to find the problem of Tongling Shangfeng Cement Co., Ltd and put forward to some optimal solution that may be useful to other companies. This paper consists of four chapters where the capital structure and the ways of optimization will be elaborated. Chapter One describes the background and significance of the thesis topics, research status, research content and methods this paper; Chapter Two describes the meanings of the capital structure, theoretical perspectives and the meaning of optimizing the capital structure; Chapter Three focus on Tongling Shangfeng Cement Co., Ltd. It will give a overall description about Tongling Shangfeng Cement Co., Ltd and talk its sources and ways of funding and financing, capital structure and try to get the idea that whether the capital structure is reasonable and then find the main reasons. Chapter Four will describe the reasonable and unreasonable parts and give some suggestions to optimize. 

Keywords  capital structure; debt levels; capital optimization; debt capital