摘要：随着世界经济的日益全球化和我国市场经济的深入发展，我国企业面临的竞争越来越激烈，负债经营已成为必由之路。如果企业能合理地进行负债经营，那么负债经营就能给企业经营者带来杠杆效应、减少税收支出，降低经营成本、让企业从通货膨胀中得到利益。但是目前我国许多企业在负债经营中存在诸多问题。如何更好地利用财务杠杆这把“双刃剑”提高企业经济效益，将成为企业关注的重要课题。当前企业负债经营中主要存在负债率偏高、负债结构不合理、企业资金计划安排不当等问题。负债过度降低企业再筹资的能力，企业经营失败引起财务杠杆的负效、借债不适度使得财务风险增加，这些问题也同样困扰着企业。以上问题的产生与企业举债无度，负债原则欠科学有关。要完善我国企业负债经营，可以从确定企业合理的负债规模、确定企业适度的负债结构、根据企业实际经营状况制定相应的资金计划这些方面来入手。企业正确运用负债经营，要确定适度的负债数额，保持合理的负债比率；结合企业实际情况，选择合适的举债方式；采取多种经营策略，建立风险防范机制；严格权衡负债效益和可能承担的风险，有效降低综合资金成本率。采纳这些建议可以把财务风险降到最低程度，能发挥负债经营优势，使负债经营不仅有利于企业合理配置资源，而且能获得财务杠杆效益和减税收益。企业合理负债经营，可在市场经济发展中追求自身经济效应，争取最大利润。实现企业利润最大化，实现企业跨越式发展。
关键词：负债经营；风险；防范策略
Abstract：With the increasing globalization of world economy and in-depth development of China's market economy, Chinese enterprises are facing increasingly competition, debt management has become the only way. If the business can reasonably carry out debt management, debt management will be able to bring business leverage, reduce tax expenditures, reduce operating costs and allow enterprises to benefit from inflation. But now many of our enterprises there are many problems in the debt management. How to make better use of financial leverage to "double-edged sword" to improve the economic efficiency of enterprises, will become an important issue of corporate concern. Debt financing of enterprises mainly in the high debt ratio, debt structure is unreasonable, improper arrangement of corporate capital plan and other issues. Excessive liabilities reduce the ability of enterprises to financing, a business failure caused by the negative effect of financial leverage, borrowing is not a moderate increase in financial risk, these problems also plagued the enterprise. The above problems arise with corporate debt excesses, the principle of debt owed to science-related. To improve the debt financing of enterprises in China, you can determine the reasonable business liability scale ,identify enterprises moderate debt structure, according to the actual operating conditions to develop a capital plan to start. The correct use debt, to determine the appropriate degree of indebtedness, and to maintain a reasonable debtratio; combined with the actual situation, select the appropriate debt; take avariety of business strategy, establishment of risk prevention mechanism ;strictly weigh the risk of liabilities, benefits and possible commitment to effectively reduce the cost of capital rate. The adoption of these recommendations can be financial risks to a minimum extent, able to play to the advantage of debt management, debt management is not only conducive to enterprises to rationally allocate resources, and effectiveness of financial leverage and tax benefits. Reasonable enterprise debt, pursue their own economic effects in the development of the market economy, to maximize profits. To achieve maximum profit, to achieve leapfrog development.
Key words：Liability operation;Risk;Prevention strategies
