Cost dynamic reason analyses goes on exterior financing of public company in our country

According to the western financing way——the sequence theory,the order of enterprise's exterior financing should first bond financing and then stockholder's rights financing.Compared with fond financing in our country,stockholder's rights financing has the superiority on capital cost,agent cost,information cost and seeks rents cost,this enable the market company's exterior financing order appears the tendency—— stresses respects financing,light bond financing Should perfect the governor structure,standard regulation of information disclose,strength develop capital market,speeds up forms manager market and so on in order to change the present irrational financing situation.