企业负债经营的问题与对策(外文)
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浅谈企业负债经营摘要本文通过分析负债经营的利与弊,引出实施适度负债经营的观点,同时对MM公司过度负债的后果进行分析,并对如何进行适度负债经营提出一些建议。
关键词:负债经营;负债经营风险AbstractThe times we live in is facing the rapid development of the world economic and social. If enterprises want to find the opportunities of development from the intense competition, they must carry out the operating liabilities. By using the operating liabilities, enterprises can expand their capital in the short time and gain the additional earnings by using others' capital. This article gives out the standpoint of carrying out the moderate operating liabilities by analyzing the advantages and disadvantages of the operating liabilities, and gives some suggestions about how to carry out the moderate operating liabilities. At the same time, we also should pay attention to the risks which the operating liabilities give us, and dodge it with some ways. We can gain the most advantages of the operating liabilities only by this way.Key Words:The operating liabilities;The advantages and disadvantages of the operating liabilities;Moderate degree;The risk of operating liabilities目录引言 (3)一、负债经营的简单介绍 (3)(一)负债经营的定义 (3)(二)负债经营的主要形式 (3)(三)是否该拒绝负债经营 (4)二、负债经营的利弊分析 (5)(一)负债经营的优势 (5)(二)负债经营的劣势 (9)三、适度负债经营 (12)(一)适度负债经营的概念与必要性 (12)(二)反思过度负债的案例 (13)四、如何做到适度 (15)(一)适度的含义 (15)(二)适度负债经营的实现 (15)五、适度负债经营中风险的规避 (20)(一)负债经营风险的归类 (20)(二)规避负债经营风险的建议 (22)结束语 (23)致 (24)参考文献 (25)附录 (25)引言当今世界,在一个企业的发展过程当中,单纯依靠发行股票或者从企业部筹集资金等方式来筹集权益性资金往往是不能满足企业发展对资金的需求的。
浅谈企业负债经营的利弊及对策企业负债经营是指企业为了扩大经营规模或进行其他投资活动,通过向外借款或发行债券等方式筹集资金,使企业负债增加以支持企业发展。
负债经营在一定程度上可以帮助企业加快发展,但也存在着一定的利弊及风险。
本文将浅谈企业负债经营的利弊及对策,希望能够对企业在进行负债经营时有所启发和帮助。
一、负债经营的利与弊1. 利:(1)融资渠道多样化。
企业通过负债经营可以通过向金融机构借贷、发行债券等多种方式筹集资金,满足企业不同层次、不同期限的融资需求。
(2)提高企业经营效率。
通过贷款等方式募集资金,可以加速企业的扩张和投资,提高企业经营效率,促进企业更快的发展。
(3)降低企业资本成本。
在一定程度上,通过负债经营可以降低企业的资本成本,提高企业的盈利能力。
2. 弊:(1)财务风险增加。
负债经营增加了企业的财务杠杆,一旦经营不善或市场环境变化,会对企业造成较大的财务风险,甚至导致企业破产。
(2)资金压力加大。
由于负债经营会增加企业的负债规模,导致企业需要支付更多的利息和本金,加大了企业的资金压力。
(3)破坏企业形象。
企业负债过多会导致企业形象受损,影响企业的信誉和市场地位,给企业带来不利影响。
二、对策1. 积极开展负债经营前的调查研究。
企业在进行负债经营前应充分调查研究市场环境、行业发展趋势、企业自身实力等因素,评估负债经营的风险和收益,以便更好地把握负债经营的机会和风险。
2. 控制负债比率。
企业负债比率是衡量企业偿债能力和安全性的重要指标,企业应根据自身情况制定合理的负债比率目标,并加强对负债比率的监控,避免过度负债。
3. 合理利用负债资金。
企业在进行负债经营时,应合理利用负债资金,将资金运用于能够带来更多收益的领域,确保负债资金的有效利用。
4. 提高企业盈利水平。
企业应通过提高经营管理水平、创新产品和服务、降低生产成本等方式加强盈利能力,降低对外借贷的依赖程度。
5. 加强财务风险管理。
企业在进行负债经营时,应加强财务风险管理,建立健全的风险管理体系,完善财务预警机制,及时发现和解决财务风险问题。
IntroductionWith the rapid growth of the global economy, many enterprises have resorted to borrowing as a means to finance their operations. While debt funding can be an effective way to garner capital investment, it can also lead to excessive debt accumulation which may negatively impact the overall financial stability and liquidity of the business. In this context, this paper aims to provide an analysis of the problems and possible solutions related to enterprises operating with largeamounts of debt.Problems Arising from Overreliance on Debt FinancingOne of the main problems of too much debt accumulation is that enterprises become overburdened by the need to keep up with the payments of their loans. This greatly reduces their financial stability, as they may not have sufficient funds to invest in new projects or long-term strategies. Furthermore, excessive debt may lead to high interest rates, reducing the profitability of the businessand increasing the risk of default.Another problem related to excessive debt accumulation is that it can affect key stakeholders such as suppliers, investors, and employees. For example, suppliers may start to view enterprises as high credit risks and may therefore require upfront payments or request for shorter payment terms. Investors may become hesitant to invest in the business, and employees may face cuts in salaries or job losses due to the need for cost-cutting measures.Possible Solutions to Debt ProblemsThere are several measures that a business can take to address debt problems. Firstly, the enterprise can engage in a debt-restructuring plan to refinance its debt obligations. This may involve negotiating with lenders for payment terms that better match the enterprise’s financial situation. Additionally, the enterprise may seek to finance its operations through equity investment rather than debt funding, thereby reducing its reliance on loans.Another way to deal with debt problems is through cost-cutting measures such as reducing the size of the workforce or renegotiating supplier contracts. This may help to alleviate short-term financial difficulties and free up resources to pay off Outstanding loans.Finally, a proactive approach to managing debt risks is to ensure that the enterprise has a solid financial plan in place. This may involve regular reviews of the enterprise’s financial statements, benchmarking against industry standards, and implementingproper debt management policies. ConclusionIn conclusion, enterprise debt is a significant problem that can hinder the financial stability, profitability, and long-term prospects of a business. To address this issue, enterprises must take a proactive approach to managing their debt levels through measures such as debt-restructuring plans, cost-cutting measures, and implementing proper financial management policies. With proper management, enterprises cansecure long-term sustainability and ensure that their financial future remains bright.。
浅谈企业负债经营存在的问题与对策作者:罗筑馨来源:《财税月刊》2018年第05期摘要伴随着市场经济的成长与发展,众多企业开始运用负债经营的方式来进行融资。
采用负债经营有许多好处,但是企业在负债经营的过程中也存在一些问题,如负债率较高、对于能承担的负债金额估计不清、对于负债金额的运用时机不合理等。
对于这些潜在的风险应该对其进行研究,并且树立风险意识来规避风险,以优化企业的经营结构,寻求最适合企业发展的最佳负债经营模式。
关键词负债经营;风险;经营结构一、企业负债经营概述1.负债经营概念负债是指企业过去的交易或者事项形成的,预期会导致经济利益流出企业的现时义务。
企业为了日常经营活动的顺利进行,为了扩张企业的规模,创造更大的利益,需要通过负债经营借入资金来满足上述活动。
在会计层次上,负债经营可以表现在:长期借款、短期借款、应付账款等方面。
大部分企业只通过自有资产无法满足各种经营活动,因此通过负债经营可以获得资金,这是企业发展、筹集资金的重要手段。
2.负债经营特征目前,采用举债形式处理资金周转成果的企业越来越多。
负债运营的好处很多,比如,可以给企业提供资金、降低企业的加权平均成本、节约税费、能给企业带来正的“财务杠杆”、保持企业的控制权以及能够降低通货膨胀给企业带来的损失。
与此同时,负债运营也使企业暴露在各种经营危险之中,比如,到期偿还本金和利息是每一个企业的义务,这一笔利息资金就提高了企业的综合资金成本。
企业一旦运营不善,不能定时归还到期债务和利息,又或者经济决策失误,使得投资收益低于资金成本,轻则会使企业的信用等级和再融资能力降低,重则可能会引发财务危机甚至让企业面临破产清算。
二、企业负债经营存在的问题1.企业发展目标与战略规划不明确企业片面追求发展大量借入资金进行负债经营,但是并没有在借入资金之前用战略的眼光研究和考虑如何运用借入资金,后果往往是得不到应有的回报和效益,造成财务压力过重,需要进行新一轮的负债才能缓解财政赤字的压力。
浅析企业负债经营存在的问题及对策摘要:摘要:本文在对负债经营进行简要概述的基础上,分析了目前企业负债经营存在的问题,进而提出了改善企业负债经营问题的建议,期望企业能够运用好负债经营这把双刃剑,为企业带来高利润,促进企业的发展。
下载论文网关键词:负债经营关键词:浅析,企业,负债,经营,在的,问题,对策,本文,负债,经营, 摘要:本文在对负债经营进行简要概述的基础上,分析了目前企业负债经营存在的问题,进而提出了改善企业负债经营问题的建议,期望企业能够运用好负债经营这把双刃剑,为企业带来高利润,促进企业的发展。
下载论文网关键词:负债经营;问题;建议一、负债经营概述为了维持企业正常的生产经营活动、扩大企业生产规模、投资企业新年项目等等通过,向外部借入资金支持企业的生产经营活动,以达到企业效益最大化。
在会计理论中,在会计账务上可以表现为应付票据、应付账款、长短期借款、应付债券等等。
大部分企业依靠自身的资本无法满足企业的经营活动,负债经营是筹集企业资本的一种重要手段,对促进企业的运作、提高企业的经营效益最优重要意义。
但是这种筹资手段也给企业带来了很多问题,部分企业因资产负债率高而陷入财务困窘,甚至阻碍企业的发展,最终导致企业破产。
二、企业负债经营存在的问题企业负债经营存在的问题较多,错综复杂。
而相对突出、并带有普遍性的问题,我个人认为有这几个方面,概括起来就是“向、度、准、则”。
(一)举债无度,盲目投资扩张部分企业在开展经营活动时,企业比较自信乐观,认为企业可以做大做强,于是盲目投资扩张,甚至部分企业进入全新行业,大力借款,没有考虑企业的资金成本,造成过高的资产负债率。
企业没有预计到可能出现的财务风险,当出现风险时,就举新债偿还旧债,这种举债无度的行为,最终引发企业财务困境,阻碍企业的生存和发展,(二)筹资方向失误,资本结构不合理企业的主要筹资渠道有股权筹资和债权筹资,债权筹资主要有短期借款、长期借款、债券以及因结算形成的负债等等。
XX公司负债经营存在的问题及对策(经管专业)目录一、 XX公司负债经营现状 (1)(一) XX公司股份有限公司简介 (1)(二)XX公司负债经营的现状 (1)二、XX公司负债经营存在的问题 (2)(一)负债规模略有超标 (2)(二)负债结构不合理 (3)(三)偿债利息压力大 (4)(四)负债经营带来一定的风险 (4)三、XX公司负债经营的优化建议 (5)(一)确立合理的资产负债率 (5)(二)确定合理的负债结构 (5)(三)降低还债利息压力 (5)(四)降低财务风险 (6)参考文献 ............................................... 错误!未定义书签。
目前房产开发规模在不断的增加,投资者为了获得更多的收益选择进入该行业,但获得收益就会伴随着同比的风险,而且在前期需要投资者投入大量的资金,一般公司承担巨额的资金又是非常的困难,这时就需要借助外界的帮助即借款筹资,来达到公司对资金的需要量。
但是借款就会产生一定的费用,使得筹资成本比较高,利息费用增加和资产与负债的比率也会有所增长,导致公司会面临一定的风险。
房地产的平均资产负债率维持在70%是比较正常的,但是目前有些公司已经高达了90%。
因此就需要公司根据一些相关的财务指标数据来调整公司的负债结构,从而可以使公司有一个合理的负债规模与结构。
一、 XX公司负债经营现状(一)XX公司股份有限公司简介XX公司是属于中国信达旗下,而且在行业内具有一定的影响力。
公司主要以房产项目开发和经济效益为主要核心,在国内20多个大城市均有分布的项目开发,同时它与同行业内别的企业相比,具有可以用较低的成本获取资金的优势。
2018年2月26日,信达首次用巨额通过现场竞买的方式得到重庆北部的一块地,该地总占地面积68.5亩,合计45666.7平方米,该地面单价为5230元,溢价率3.8%,成为信达的商业用地。
该公司这样做,可以有力提升其股票市值和公司资本结构的优化。
浅析企业负债经营的利弊及改进措施作者:陈璐来源:《财会学习》 2018年第21期摘要:近几年,在“大众创业,万众创新”号召下,我国的企业数量不断增多,为促进国家经济发展做出了突出贡献。
企业要发展,就需要不断的进行融资与投资,负债筹资是目前大多数企业选择的融资方式之一。
企业负债经营会对其产生有利和不利的不同影响,很多企业不能对负债经营的利处和弊端进行有效融合,导致资金链断裂,最终使企业面临着破产的困顿局面。
本文通过对企业负债经营的利与弊进行分析与阐述,进而提出相应的改进措施。
关键词:企业负债经营;利弊;改进措施企业在不断发展扩张过程中,有着大量的资金需求,企业可以通过向银行贷款,或者采用发行债券等方式来筹措资金,这样的资金筹集方式就称为负债筹资。
通常来说,企业要想使自身的生产、经营顺利运行,就必须要有充足的资金,但实际情况是大多数企业在自身发展过程中都存在内部资金短缺的问题,所以企业就会通过负债筹资的方式来进行资金筹集,从而使自身有足够的经济实力来应对外界市场环境的变化。
随着各行业中企业队伍的不断壮大,企业之间的竞争也越来越激烈,各个企业所面临的市场竞争压力不断增加,利用负债经营的方式已经成为大多数企业的首选方法。
而负债经营是一把双刃剑,这种融资方式虽然能够为企业的发展提供充足的资金,但同时也会对企业的发展产生消极影响。
因此,对企业负债经营的利与弊进行详细分析,并提出有效的改进措施是当下研究的重点内容。
一、企业负债经营的双刃性( 一) 企业负债经营的利处1. 提供充足的发展资金企业负债经营所带来的最大好处就是能够使企业得到充足的发展资金。
在当前市场环境下,企业只有不断研发新产品并积极提高其技术的先进性才能在日益激烈的市场竞争中求得立足之地,同时再利用研发的新产品和先进的技术来开发新市场,进而使企业自身的发展优势和竞争力得到提高。
企业这一系列的发展过程都需要充足的资金给予支撑,如果没有充足的资金组成完整的资金链,那么企业在周转上就会产生问题,使其失去进行市场竞争的机会,使企业的发展受到限制。
企业负债经营的问题与对策引言负债经营是指企业通过借贷资金进行生产经营活动的一种方式。
然而,负债经营也带来了一系列的问题。
本文将通过翻译外文文献,探讨企业负债经营的问题以及可行的对策。
企业负债经营的问题负债经营虽然在一定程度上可以支持企业的发展,但在实践中也存在着一些问题。
1. 财务风险负债经营意味着企业需要承担债务,从而增加了财务风险。
如果企业经营不善或遇到经济困难,无法按时偿还债务,可能会导致企业破产甚至关闭。
2. 债务成本债务需要支付利息和其他费用,这会增加企业的财务负担。
如果债务成本过高,企业的盈利能力可能会受到限制。
3. 压力和限制企业负债经营可能导致企业受到一定程度的压力和限制。
企业需要为债务还款而努力经营,可能会限制企业的自主权和发展空间。
企业负债经营的对策为了应对负债经营所带来的问题,企业可以采取一些对策。
1. 健康财务管理企业应加强财务管理,制定合理的财务计划和预算,避免财务风险。
通过合理的财务管理,企业可以更好地掌握自身的财务状况,并做出相应的决策。
2. 多样化融资渠道企业可以探索多样化的融资渠道,减少对单一融资渠道的依赖。
通过多样化的融资渠道,企业可以降低债务成本,并减少财务压力。
3. 提高绩效和盈利能力企业应通过提高绩效和盈利能力来增加自身的现金流。
通过持续改进经营管理、降低成本、提高竞争力,企业可以增加盈利能力,减少对债务的依赖。
4. 控制风险企业应加强风险管理,减少可能导致经营困难的风险。
通过制定有效的风险管理策略和应急预案,企业可以在面临风险时做出及时的应对。
5. 持续监测债务状况企业应定期监测自身的债务状况,及时了解债务的偿还情况和未来的债务负担。
通过及时监测和调整债务计划,企业可以更好地管理债务风险。
结论负债经营虽然存在问题,但企业可以通过健康的财务管理、多样化的融资渠道、提高绩效和盈利能力、控制风险以及持续监测债务状况等对策来应对这些问题。
这些对策可以帮助企业更好地管理财务风险,并实现可持续发展。
浅谈企业负债经营的利弊及对策【摘要】企业负债经营是指企业通过融资活动来扩大规模或实现经济效益。
负债经营有利于提高企业的资金利用效率,加速发展步伐,提升竞争力。
但是负债经营也存在风险,如财务风险、经营风险等。
为了防范这些风险,企业应该加强负债管理,控制负债规模,确保财务稳健。
企业应该合理运用负债经营,避免盲目扩张和过度债务。
负债经营既是一把双刃剑,带来机遇的同时也伴随着挑战。
企业在负债经营中要保持谨慎和风险意识,遵循市场规律,做出明智的决策。
负债经营对企业的发展至关重要,能够为企业带来更多的资源和机会,推动企业的健康发展。
企业应该根据实际情况,灵活运用负债经营,实现可持续发展。
【关键词】企业负债经营、利益、风险、防范、合理运用、双刃剑、重要性。
1. 引言1.1 什么是企业负债经营企业负债经营是指企业通过借贷等方式获取资金来进行经营活动。
在这种经营模式下,企业将自身的资金运转能力和融资能力融合起来,实现资源的最大化利用。
企业负债经营是企业运作方式的一种选择,旨在提高企业的资金利用效率和盈利能力。
企业通过债务融资来扩大经营规模,增强市场竞争力,实现企业的可持续发展。
企业负债经营具有一定的风险,需要谨慎对待。
企业应该根据自身的实际情况和融资需求来选择合适的负债经营方式,避免盲目扩张和高风险投资。
企业还需加强对财务风险的监控和预测,确保债务能够及时偿还,避免发生资金链断裂的风险。
企业还应该注重与金融机构的合作,建立稳固的信任关系,确保获得稳定和可靠的融资渠道。
企业负债经营是一种有效的资金运作方式,可以帮助企业实现经济效益最大化,实现长期发展。
企业在进行负债经营时,需要合理运用负债,防范风险,确保企业的可持续发展。
企业应该根据自身的情况,量力而为,谨慎选择负债经营的方式和规模,以实现经济效益和风险控制的平衡。
1.2 负债经营的意义在企业管理中,负债经营是一种常见的经营方式,其意义主要表现在以下几个方面:负债经营可以帮助企业扩大规模和提高竞争力。
外文翻译---浅析企业负债经营的利与弊nEnterprise liability n is a business model that has gained popularity in recent years。
It involves assigning responsibility for the ns of a company to the company itself。
rather than to individual employees or managers。
This approach can have both advantages and disadvantages。
which will be discussed in this article.Advantages of Enterprise Liability nOne of the main advantages of enterprise liability n is that it can help to ce the risk of lawsuits against individual employees or managers。
When a company is held liable for its ns。
it can be easier for employees to avoid personal liability。
This can be especially important in industries where the risk of lawsuits is high。
such as healthcare or finance.Another advantage of enterprise liability n is that it can helpto improve accountability within a company。
企业负债经营的问题与对策外文资料翻译The advantages and disadvantages of debt managementI. INTRODUCTIONLiabilities can raise the money. Enterprises in the case of insufficient funds, debt management may use more power to expand enterprise scale and economic strength, short time to improve the operation efficiency of enterprises and competitiveness. Any a enterprise not only in the case of insufficient funds need indebtedness, in funds under the condition of relatively abundant indebtedness is also very necessary. Even if an enterprise internal capital accumulation, more by its own capital alone enterprise scale and he can use the amount of money is limited. Through responsible business, and control can be obtained more the amount of capital. As long as reasonable use these funds organization and coordination, expand the business scope of business and the way of thinking, improve the technology and equipment, reform process, the introduction of advanced technology, updating equipment, expand the scale of enterprise, broaden the scope of business, improve the quality of the enterprise, can strengthen enterprise economic strength and competition ability.II. The advantages of debt managementDebt management is a commodity to a certain stage of economic development. The inevitable product of market economy is the only way for the development of enterprises. Enterprises to develop, relying on internal accumulation and its own funds to meet the needs of enterprise development, not only does not allow time and the number would still be difficult to meet the demand, it will lose business opportunities and constraints of the rapid development of enterprises. Rational use of debt, to enable businesses to obtain financial leverage effect. Improper use may increase the enterprise’s finan cial risk, so that enterprises involved in financial crises.Tax debt can play a role. Because under the current system, the financial liabilities included in the cost of interest, and before the deduction of income tax, it can generate tax so that small business income tax, thus increasing the equity capital gains. The higher interest charges on, the greater the tax section, so that businesses with liabilities using its own funds for all businessescompared to the cost increase, reduction in profits. The amount of income tax be reduced, thereby reducing the amount of income tax paid to reduce the tax burden on enterprises.Liabilities of business enterprises can reduce the cost of capital. Operating requirements of the liabilities of enterprises regularly pay interest and principal payments due to creditors for a smaller investment risk and therefore required a low rate of return on investment. In addition, the role of the above-mentioned tax and therefore the cost of debt capital is usually less than the cost of equity capital.Liabilities of business can benefit from inflation. Liabilities are generally due to debt service, an increase in the inflation rate, the original liability of the real purchasing power will decline, after the enterprise by reducing the amount of debt service, in fact, is to shift the consequences of currency depreciation to the creditors.Debt management is beneficial to maintain control of companies. In the enterprise facing a new financing decisions, such as if to find stock way to raise equity capital, not only the cost of capital than debt financing, will also bring equity scattered, affect the existing shareholders for the control of the enterprise. But if to issue bonds or borrow from Banks and other financial institutions capital, to raise debt capital, the creditor has no right to participate in the company's operating decisions, while expanding enterprise capital source does not affect the control of the enterprise, is conducive to maintaining existing shareholders control enterprise production and business operation activities.The balance of financing in comparison with other modes of financing, financing a short time, to spend a small price. Borrowing in particular, after consultation of the loan amount, repayment terms, with the period shall change, but also for solution through consultations with greater flexibility.Ⅲ.The disadvantages of debt managementDebt to maintain the existing shareholders under the premise of control brought about by the rapid growth of wealth. Thus, capital markets, as well as for business managers have entrepreneurial spirit and readiness to take risks is a positive innovation as an important sign of the measure, that is, the level of debt. However, enterprises in the process of debt as a result of the business environment there are many uncertain factors, especially in pre-borrowing the idea ofoperating conditions is not conducive to business development, will result in the risk of debt. Run the risk of liability comes mainly from the financial risk and business risk issues.Financial risk is increasing due to the use of debt and financial burden, and thus the solvency of the enterprise may be lost, eventually leading to the risk of corporate insolvency. When enterprises are facing low economic development, due to a fixed amount of the interest burden, the profits will fall, bringing the interests of a substantial decline in rate of return of negative impact. Funding for the liabilities, businesses have due and timely payment of interest and a statutory duty to repay the principal. Once the financial conditions deteriorate, or the operation of short-term funds is inappropriate, it will enable the enterprises are facing the risk of insolvency. Thus, on the one hand, may cause long-term part of the short-term liabilities, and enable enterprises to increase the operating costs; On the other hand, will also affect the credibility of enterprises to make financing more difficult.Excessive debt is likely to cause the agency conflict between shareholders and creditors. The creditors' interests are not compromised a premise condition is the enterprise the risk degree is in predicting the allowed range. In the real economic life shareholders tend to invest in risky projects, because if the project is successful, the creditors can get fixed interest and principal, the rest of the profits for shareholders possess completely, and then realize the transfer of wealth from creditors to shareholder; If the high risk of investment project failed, the loss shall be borne by the common shareholders and creditors. In addition, shareholders to issue new bonds will also damage the interests of the creditors. Because shareholders in order to get new money, often can give new creditors claims priority, so that we can reduce new debt to pay interest rates, but also increase the risk of the creditors, led to the original real fall in the value of the bond.Debt ratio is too high, can lead to the company's share price. Business owners to the enterprise debt management's tolerance is limited. When the indebtedness of the investment rate is lower than its cost of capital, the enterprise must took part from the returns of originally by the owners used to repay the debt principal and interest, the owner income will therefore suffer. Owner may therefore selling stocks, due to the influence of psychological factors such as market expectations at the same time, enterprise's stock market is bound to decline. That stock marketprices, investors will lose faith in business, this is not conducive to enterprise long-term development.Anyhow, debt management benefits a lot, but at the same time, the risk of operating liabilities are concomitant, indebtedness of the earnings and risks are fused together. Therefore, the enterprise can not blindly to finance operations with debt.Author:Gabilondo, Jose, Florida International University, Miami, FloridaLatin American and Caribbean Law and Economics Association (ALACDE) Annual Papers负债经营的优点和缺点第一部分介绍负债经营是商品经济发展到一定阶段的必然产物,也是市场经济中企业发展的必由之路。