巨人集团适度负债经营问题研究.doc

摘要:在当今激烈的市场经济条件下，负债经营已经成为众多企业运营管理的重要方式。不少企业因此而不断壮大，但有些企业在负债经营的同时却不重视负债经营的管理。如今不合理的负债经营已经成为制约企业发展的一个重要因素，因此如何适度负债经营成为企业所需要解决的首要问题，企业应根据自身的特点进行合理的负债经营。

　　　本文以适度负债的经营理论为基础，以巨人集团为研究对象，针对企业负债经营过程中存在的问题提出相应的建议和防范风险的措施。本文认为企业要实现适度负债经营最重要的还是要根据自身特点制定合理的负债规模并合理利用财务杠杆，促进企业更迅速的发展。

关键词 负债经营；资本结构；适度负债

Abstract:In today's fierce market economy, the debt management has become an important way of operation and management for many enterprises. However, some companies still do not pay attention to the importance of the debt management. Liability operational risks has become an important factor restricting of the development of enterprises, so how to moderate debt management has become a major problem. Companies should accordingly debt management system based on their characteristics.

　　　This article will by an example, that by Giant Group for the study of operating liabilities, the analysis of its operating status and the reasons for the failure in the past. Enterprise's own reality, unreasonable, and enterprises in the management of existing problems and shortcomings, designed some suggestions to change the company operating liabilities, so debt management can play a greater role in economic life.

Keywords  Debt management  Capital Structure  Moderate Debt

　　　负债经营是现代企业提高竞争力和获利能力，为实现快速发展而采取的一种积极、主动和进取的经营理念。适度的负债经营会给企业带来好处，但也有一定风险。所以合理的运用负债经营，可以提高企业财务管理水平，也可以为企业增经济效益。

　　　企业适度举债，除了税收有优惠，通常还能降低公司的代理成本。因为在企业举债经营的环境下，管理层始终面临着还款的压力，这可能会减少管理层对剩余现金的滥用，从而抑制盲目的投资行为。