財(cái)務(wù)杠桿對(duì)企業(yè)經(jīng)營(yíng)產(chǎn)業(yè)的影響(已修改)
2025-05-28 07:55 本頁面
【正文】 n摘 要負(fù)債經(jīng)營(yíng)是財(cái)務(wù)杠桿存在的基礎(chǔ)，負(fù)債是一把“雙刃劍”。負(fù)債過多，會(huì)增大財(cái)務(wù)風(fēng)險(xiǎn)；若負(fù)債過少，會(huì)損失負(fù)債可能給企業(yè)帶來的好處。在實(shí)際工作中，要合理確定負(fù)債籌資和權(quán)益籌資的比例，把握資本結(jié)構(gòu)的最佳點(diǎn)，提高企業(yè)籌資效益，就必須深刻了解財(cái)務(wù)杠桿機(jī)制，把握財(cái)務(wù)結(jié)構(gòu)。資本結(jié)構(gòu)，按照企業(yè)預(yù)期合理搭配各種籌資方式，合理安排企業(yè)的負(fù)債規(guī)模、期限、結(jié)構(gòu)，合理解決財(cái)務(wù)杠桿與企業(yè)籌資效益問題，從而達(dá)到財(cái)務(wù)杠桿效益最優(yōu)化。隨著社會(huì)主義市場(chǎng)體系的逐步建立和完善，我國(guó)的經(jīng)濟(jì)建設(shè)保持著持續(xù)穩(wěn)定增長(zhǎng)的態(tài)勢(shì)。但在經(jīng)濟(jì)持續(xù)穩(wěn)定增長(zhǎng)的另一面，許多企業(yè)走向了極端，有的陷入了高投入、高負(fù)債、高風(fēng)險(xiǎn)、低效益的怪圈，造成經(jīng)濟(jì)增長(zhǎng)速度和經(jīng)濟(jì)運(yùn)行質(zhì)量下降的強(qiáng)烈反差；有的熱中于超低風(fēng)險(xiǎn)，全憑自有資金苦苦強(qiáng)撐，最終導(dǎo)致企業(yè)衰退或破產(chǎn)。出現(xiàn)這些問題的原因是多方面的，但從財(cái)務(wù)的角度看，最重要的原因是企業(yè)缺乏資本運(yùn)作經(jīng)驗(yàn)，不能有效地利用財(cái)務(wù)杠桿效應(yīng)。本文就此談些粗淺看法，以就教于同行。關(guān)鍵詞：高投入 高負(fù)債 高風(fēng)險(xiǎn) 低效益 杠桿效應(yīng) 財(cái)務(wù)ABSTRACTDebt management is the foundation of financial leverage, the debt is a doubleedged sword. Enterprise too much debt, will increase the financial risk。 If the debt too little, will lose liability may brings to the enterprise of benefits. In actual work, to reasonably determine the debt financing and the rights and interests of the financing proportion, and grasp the capital structure of the best point, improve enterprise financing benefit, it must deep understanding of financial leverage mechanism, grasp the financial structure. Capital structure, according to enterprise expected reasonable collocation all kinds of finance approach, reasonable arrangement of enterprise39。s liabilities scale, period, structure, reasonable solve financial leverage and enterprise financing efficiency, so as to achieve the optimized efficiency of financial leverage. Along with the socialist market economy system gradually establish and perfect, our country39。s economic construction keep ?Key word：High investment high debt low benefit highrisk leverage financial目 錄引言………
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