我国企业负债经营的财务风险及防范措施研究.doc

摘要：本文根据我国企业负债经营的情况调查，分析了我国企业负债经营的原因以及企业负债经营不善带来的严重后果。企业营运资金不够、扩大企业规模时资金不足导致企业负债经营。企业负债经营不善时，将给企业带来经营失败、利率过高企业无法支付利息费用、无法按期还本付息、再筹资能力差等严重后果。本文还讨论了企业负债经营带来的筹资风险、投资风险、资金回收风险等财务风险，分析了企业负债经营财务风险形成的内因和外因，同时提出了企业负债经营财务风险的防范措施。其防范措施包括：树立风险意识，建立健全的风险预警机制，确定最佳资本结构，针对利率变动作合理的筹资安排，提高资金的使用率，增加企业的盈利能力。

关键词: 负债经营，财务风险，防范措施

Abstract:This paper according to our country enterprise debt management situation of the investigation, this paper analyzes the reasons of our country enterprise liabilities management and enterprise liabilities from poor management of serious consequences. Enterprise operating funds, expand the scale of the enterprise is not enough when insufficient funds liabilities operations in enterprise. Enterprise debt when bad management, will brings to the enterprise business failure, interest rates too high enterprise can't pay interest expense, fail to honor servicing, poor ability to raise serious consequences. This paper also discusses enterprise management of fundraising risk liability brought, investment risk, capital recovery risk financial risk, and analyzes the financial risk management enterprise liabilities of the formation of the internal and external causes, and put forward the enterprise debt management of the financial risk of preventive measures. The preventive measures include: setting up risk awareness, a sound risk early warning mechanism, determined the best capital structure, interest rate changes to make reasonable financing arrangements, and to increase the financial utilization rate and increase enterprise profitability.

Key words：Debt management, financial risk, and preventive measures

　　　本文分析了企业负债经营的筹资风险、投资风险、资金回收风险等财务风险，同时举例分析了负债经营不善带来的严重后果，提出了负债经营财务风险的防范措施。企业负债经营的筹资风险主要是筹资规模不合理、筹资方式选择不当、筹资结构选择不当引起的风险。企业负债经营的投资风险主要是投资项目的选择错误引起的风险。企业负债经营的资金回收风险主要是应收款收回时间和收回金额不确定性所导致的风险。其中，筹资决策失误、投资决策失误、资产流动性差、企业的盈利能力差和企业治理因素是导致企业负债经营财务风险的内因。同时，讨论了政治环境、经济环境、自然环境和行业环境对企业负债经营有一定的影响。本文举例说明了我国企业负债经营不善带来的严重后果，其中包括经营失败，利率不利变动导致企业无法支付利息费用，再筹资能力差，无法按期还本付息。论文最后从树立风险意识，建立健全的风险预警机制、建立债务风险预警机制、确定最佳资本结构、筹资策略、投资策略、资金使用效率等方面提出了我国企业负债经营财务风险的防范措施。