关键词: 资本结构, 信号模型, 纳什均衡

Abstract: In contrast to most signaling models,this paper assumes that a higher valued firm is distinguished from its lower valued counterpart by having a cash flow distribution with a lower variance,but with the same mean.Based on this assumption,this paper studies the optimization of capital structure under symmetric information and asymmetric information by use of Game Theory.

Key words: capital structure, signaling model, Nash equilibrium