负债经营的有关问题研究

负债经营的有关问题研究

摘要

从会计学上来说，负债是企业所承担的用货币计量、在未来将用资产或劳务偿付的经济责任。但是从内涵上分析，负债经营也称举债经营，就是企业通过银行借款、发行债券和租赁等方式来筹集钱的一种经营方式，因此只有通过借入方式获得的债务资金所构成的负债经营的内涵。就是属于负债经营范畴的负债项目实际负债中的短期借款、短期债券以及各种负债的项目。西方的财务理论分析中一直将负债经营偿还期在一年以上的长期债务，而将符合负债经营概念的借款性短期负债排除在外，这其实是一种不完全的负债经营概念。本文的分析将以负债经营的内涵确定为负债经营概念要求的项目，其中包括长期负债、短期的借款性负债。

本文从负债经营的有关问题着手,从前提条件,分类,优势和风险、发展状况着手,负债经营能给公司带来收益上的好处，对企业的所有者来说，负债经营的优势是非常明显的,但是同时又增大了经营风险, 资源在不同人的手所展示的利用效率是有差别的。

关键词：负债经营；公司；风险；收益

ABSTRACT

In accounting, liabilities are the economic responsibility of an enterprise to be measured in monetary terms and to be repaid by assets or services in the future. But from the content analysis, also known as leveraged debt management, is the enterprise through bank loans, issuance of bonds, leasing and commercial credit and other ways to raise funds management, therefore only by way of borrowing the debt capital constitutes the connotation of debt management. Liabilities in the category of liabilities only include short-term loans, short-term bonds and various liabilities in actual liabilities. The theory of financial analysis in the West tend to be limited to long-term debt management debt repayment period in more than a year, and will meet the short-term debt borrowing of debt management concepts are excluded, this is actually an incomplete debt management concept. The analysis of this paper defines the connotation of debt management as a debt project that meets the requirements of the concept of debt management, which includes not only long-term liabilities, but also short-term borrowing liabilities.

This paper from the relevant problems of the debt management, classification, starting from the premise, the advantages and risks of debt management and development, for business owners, the debt management superiority is obvious, but at the same time and increase the operating risk, resources in different on the hand, its efficiency is different.

Keywords：Indebted operation; Company; Risk; Income

目录

摘要

Abstract

一、企业负债经营的概述与渠道 (1)

（一）企业负债经营的概述 (1)

(二）企业负债经营的渠道 (1)

1.银行借款 (1)

2.发行债券 (2)

3.融资租赁 (2)

4.商业信用 (2)

二、负债经营的分类 (1)

三、负债经营的积极作用 (2)

(一）弥补自有资金不足,降低企业综合资金成本 (2)

（二）给企业带来了“财务杠杆效应” (3)

（三）让企业从通货膨胀中获益 (3)

（四）企业控制权的保持起有利作用 (4)

（五）可以起到节税作用减少企业所得税 (4)

（六）增强企业的责任心和紧迫感 (4)

（七）其他 (4)

四、企业负债经营风险 (5)

（一）增加了财务风险，降低自有资金利润率 (5)

（二）导致股票市场价格下跌 (5)

（三）降低企业的再筹资能力 (5)

（四）期限结构安排不合理，增加了企业的风险 (6)

（五）权益资本收益率的影响 (6)

（六）有可能引起股东和债权人之间的代理冲突 (6)

五、合理负债需要考虑的因素 (7)

（一）确定合理的负债规模 (7)

（二）确定适度的负债结构 (8)

（三）提高管理财务管理水平 (8)

六、合理的筹措和管理负债资金 (9)

（一）树立风险意识，建立健全财务机制 (9)

（二）正确做出筹资安排 (9)

（三）掌握政策规定 (10)

（四）制定针对性的财务政策，累计一些储备，保持一定的储备能力