企业负债经营的适度性研究分析 财务管理专业VIP专享VIP免费

企业负债经营的适度性研究摘要资金是企业生存和发展的必要条件，是企业进行生产经营活动的命脉。负债作为企业重要的资金来源，负债经营也逐渐转变为当代企业的主要经营方式。负债经营可以缓解企业资金紧张，快速满足企业对生产经营所需资金的要求，有效降低企业加权平均资本成本，使企业获得财务杠杆效应。同时，负债经营是一把“双刃剑”，既可以为企业带来利益，又会增加企业的财务风险和筹资风险，引起财务杠杆的负面效应，导致股东与债权人之间产生利益冲突，严重的还将致使企业破产倒闭。本文以我国企业负债经营现状为基础，对企业负债经营的适度性进行研究，分析负债经营的利弊，探讨如何确定企业最佳的负债结构和规模，如何合理地把握企业负债经营的“度”，发挥负债经营的优势，化风险为利益，实现企业平稳较快发展。关键词：负债经营，财务杠杆效应，财务风险，适度性AbstractCapitalisanecessaryconditionforthesurvivalanddevelopmentofenterprise,anditisthelifelineofenterpriseproductionandmanagementactivitiesofthe.Debtisanimportantsourceoffunds,andOperationonBorrowingsisgraduallytransformedintothemainmanagementmodeofmodernenterprise.OperationonBorrowingscaneasethetensionenterprisefunds,satisfytheenterprisefundsrequiredfortheproductionandoperationrequirements,effectivelyreducetheweightedtheaveragecostofcapital,toenableenterprisetoobtainfinancialleverageeffect.Atthesametime,OperationonBorrowingsisa"double-edgedsword",whichcanbringbenefitstoenterprises,andincreasetheenterprise'saccountingriskandfinancialrisk,whichcancausethenegativeeffectoffinancialleverageandleadtoconflictsofinterestbetweenshareholdersandcreditors,seriouswillalsocauseenterprisebankruptcycollapse.ThepaperisbasedonthecurrentsituationofChineseOperationonBorrowings,researchonmoderationofcorporatedebtmanagement,analysistheadvantagesanddisadvantagesofOperationonBorrowings,discusseshowtodeterminetheenterprisedebtstructureandscaleofthebest,howtograspthebenchmarkofOperationonBorrowings,playtheadvantagesofoperatingliabilities,changeriskintointerest,toachievestableandrapiddevelopmentofenterprises.Keywords：OperationonBorrowings,financialleverageeffect,accountingrisk,moderation目录前言....................................................................................................................................11企业负债经营的概述....................................................................................................22我国企业负债经营的现状............................................................................................33企业负债经营的利弊....................................................................................................53.1企业负债经营的优势........................................................................................53.1.1弥补企业资金短缺................................................................................53.1.2有效降低企业加权平均资本成本........................................................53.1.3给企业带来财务杠杆效应....................................................................53.1.4使企业从通货膨胀中受益....................................................................63.1.5有利于股东保持对企业控制权............................................................63.1.6约束过度投资........................................................................................73.2企业负债经营的弊端........................................................................................73.2.1财务杠杆的负面效应.....