上市公司负债经营分析摘要负债经营，作为目前我国绝大多数企业选择的经营方式，在企业的日常经营中占据着不可忽视的地位。适度的负债能够保证企业的流动资金充足，降低企业的资本成本，有利于企业的日常运营；过度的负债可能产生无法偿还风险、使企业产生信用危机，导致企业盈利下降、再筹资困难、乃至破产倒闭。因此，适度的负债经营对于上市公司来说至关重要。然而不同的行业往往有着不同的指标与数据，所以上市公司的负债经营不能一概而论。本文选择房地产行业对上市公司的负债经营分析，既考虑负债经营的特点，又结合房地产行业的特殊性。在正文部分作出研究假设，采用回归分析的方式，具体分析了房地产行业负债经营效益与其财务风险之间的关系问题。本文的具体思路如下：一、对上市公司负债经营的背景以及研究意义做出分析；二、对负债经营的相关概念及优劣性做出研究；三、引入房地产行业概念，结合其特殊性对负债经营做出分析；四、提出假设，通过实证分析进行研究。关键词：房地产行业；负债经营；财务风险ThelistedcompanydebtmanagementanalysisAbstractsIndebtedness,asatpresentourcountrymostoftheenterprisestochoosethemodeofoperation,theenterpriseofoccupyinganimportantpositionindailyoperation.Amoderateamountofliabilitiestoensuresufficientliquidity,reducetheenterprisecostofcapital,isadvantageoustotheenterprise'sdailyoperation;Excessivedebtdefaultriskmaybeproduced,maketheenterprisecreditcrisis,resultinginadeclineincorporateprofits,financingdifficulties,andevenbankruptcy.Therefore,moderatedebtmanagementiscrucialforthelistedcompany.However,differentindustrytendtohavedifferentindicatorsanddata,forexample,inthecaseofasset-liabilityratio,accordingtoa2016listedcompaniesleveragerankings,chemical,energy,realestatecompaniessuchasdebtratioatthetop,someevenmorethan100%;Andinformationtechnology,foodandbeverage,commercialandretailindustries,typicallyhavealargenumberoffixedassets,bankliabilitiesisless,sothedebtratioislow.Indebtednessoflistedcompany,therefore,cannottreatasthesame,thisarticlechoosetherealestateindustryforanalyzingtheindebtednessoflistedcompanies,bothconsiderdebtmanagementcharacteristics,andcombiningwiththeparticularityofrealestateindustry.Inthebodytomaketheresearchhypothesis,withthemethodofregressionanalysis,concreteanalysisoftherealestateindustrydebtmanagementbenefitandtherelationshipbetweenthefinancialriskproblems.Inthispaper,thedetailedprocessisasfollows:first,tothelistedcompanydebtmanagementbackgroundandresearchsignificancetoanalysis;Second,therelevantconceptsofindebtednessandadvantagesanddisadvantagestostudy;Third,introducingconceptofrealestateindustry,combiningwiththeparticularityofindebtednesstoanalysis;Fourth,thehypothesized,throughempiricalanalysisforresearch.KeyWords：Realestatedebtmanagementfinancialrisk目录一、研究背景与意义....................................................................................................1（一）研究背景.....................................................................................................1（二）研究意义.....................................................................................................2二、文献综述................................................................................................................3（一）关于负债经营风险控制的研究.................................................................3（二）关于负债经营下公司价值的研究.............................................................4三、研究思路..........................................................
