財務杠桿在企業管理中的應用

財務管理論文編號:CW125  論文字數:5297,頁數:09
目  錄
1  財務杠桿的定義 1
2  財務杠桿的作用以及影響因素 1
2.1  財務杠桿作用 1
2.2  財務杠桿的作用的影響因素 2
2.2.1  公司本身資本凈值的大小 2
2.2.2  借款利率的高低 3
2.2.3  經營風險的大小 3
2.2.4  現金流量的狀況 3
3  財務杠桿的應用誤區 3
4  財務杠桿的應用策略 4
5  企業正確發揮財務杠桿作用的幾點做法 4
5.1  適時調整資本結構比例，保持合理負債 4
5.2  合理控制風險 5
5.3  降低企業的綜合資金成本 5
5.4  建立相關償債制度，良性持續負債融資 6
5.4.1  建立償債基金 6
5.4.2  妥善安排還貸的時間 6
5.4.3  分析企業償債能力 6
參考文獻 7

摘    要
 財務杠桿是指企業利用負債來調節權益資本收益的手段。合理運用財務杠桿給企業權益資本帶來的額外收益，即財務杠桿利益。由于財務杠桿受多種因素的影響，在獲得財務杠桿利益的同時，也伴隨著不可估量的財務風險。因此，我們要從以下幾個方面來研究財務杠桿對企業的影響：財務杠桿的定義、作用和影響因素、應用誤區、應用策略和企業如何正確發揮財務杠桿的作用。只有對財務杠桿有了透徹地了解企業才能更好的應用負債這個有利的籌資途徑，才會對企業未來的發展有很好的幫助；只有認真研究財務杠桿并分析影響財務杠桿的各種因素，搞清其作用、性質以及對企業權益資金收益的影響，才能讓財務杠桿為企業服務，這是合理運用財務杠桿為企業服務的基本前提。

Abstract
 Financial leverage refers to enterprises to take advantage of liabilities to regulate the rights and interests of capital gains means. Rational use of financial leverage equity capital to enterprises will bring in additional revenue, that is, the interests of financial leverage. Because of financial leverage is influenced by many factors, in the interests of financial leverage was also accompanied by an immeasurable financial risks. Therefore, we should take the following aspects to study the financial leverage of enterprises: the definition of financial leverage, the role and influence of factors, the application of the errors in the application of strategy and business how to correctly play the role of financial leverage. With financial leverage only thorough understanding of enterprise applications in order to better benefit liabilities of the fund-raising channels, only the future development of enterprises have a good help; only seriously study and analyze the impact of financial leverage financial leverage a variety of factors, understand its role, the nature of the business interests of the impact of capital gains so as to enable the financial leverage for enterprise services, this is the rational use of financial leverage for the basic premise of business services.