财务杠杆在企业管理中的应用

文档编号:CW125  文档字数:5297,页数:09

摘    要
 财务杠杆是指企业利用负债来调节权益资本收益的手段。合理运用财务杠杆给企业权益资本带来的额外收益，即财务杠杆利益。由于财务杠杆受多种因素的影响，在获得财务杠杆利益的同时，也伴随着不可估量的财务风险。因此，我们要从以下几个方面来研究财务杠杆对企业的影响：财务杠杆的定义、作用和影响因素、应用误区、应用策略和企业如何正确发挥财务杠杆的作用。只有对财务杠杆有了透彻地了解企业才能更好的应用负债这个有利的筹资途径，才会对企业未来的发展有很好的帮助；只有认真研究财务杠杆并分析影响财务杠杆的各种因素，搞清其作用、性质以及对企业权益资金收益的影响，才能让财务杠杆为企业服务，这是合理运用财务杠杆为企业服务的基本前提。

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.

目  录
1  财务杠杆的定义 1
2  财务杠杆的作用以及影响因素 1
2.1  财务杠杆作用 1
2.2  财务杠杆的作用的影响因素 2
2.2.1  公司本身资本净值的大小 2
2.2.2  借款利率的高低 3
2.2.3  经营风险的大小 3
2.2.4  现金流量的状况 3
3  财务杠杆的应用误区 3
4  财务杠杆的应用策略 4
5  企业正确发挥财务杠杆作用的几点做法 4
5.1  适时调整资本结构比例，保持合理负债 4
5.2  合理控制风险 5
5.3  降低企业的综合资金成本 5
5.4  建立相关偿债制度，良性持续负债融资 6
5.4.1  建立偿债基金 6
5.4.2  妥善安排还贷的时间 6
5.4.3  分析企业偿债能力 6
参考文献 7

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