宝钢集团企业负债经营的风险及防范
毕业论文关键词： 负债经营；财务杠杆；风险；防范
The risk and the protection of enterprise debt management- BAOSTRELL (Group) Co., Ltd for example
Abstract: In recent years, the world economy as a whole continued downturn, China's economic growth is downward, companies rely on their own capital is difficult to obtain long-term development, in this context, debt management is a mode of operation of most enterprises to choose. The enterprise debt management is the most enterprises are confronted with a mode of operation. Liability operation of enterprises on one hand can effectively reduce the weighted average capital cost, financial leverage effect, is advantageous to the enterprise on the inflation risk, is advantageous to the enterprise to control right to maintain; on the other hand the enterprise debt management will produce the effect of financial lever, make the enterprise faces the insolvency risk and risk financing. This article from the enterprise operating liabilities of the definition, characteristics and significance of enterprise operation in debt; through the study of BAOSTELL, analyzed the operating risk and the causes of enterprise in debt management, then put forward the control strategy of the enterprise debt management. The negative effect of the enterprise debt management was expected to be reduced, which made the enterprise management goal realization and the economic benefit improved.
Keywords：debt management, financial lever, risk ,prevention
目录
绪 论 1
一、企业负债经营的概述 2
（一） 负债经营的含义 2
（二） 负债经营的特点及意义 2
二、企业负债经营的利弊分析 4
（一） 企业负债经营具有的优势 4
1、 企业负债经营可以弥补企业运营和长期发展资金的不足 4
2、 企业负债经营能产生财务杠杆效益 4
3、 企业负债经营能有效降低企业的加权平均资本成本 4
4、 企业负债经营有利于企业控制权的保持 5
5、 企业负债经营有利于企业转嫁通货膨胀风险 5
（二） 企业负债经营的弊端及潜在风险 5
1、 “财务杠杆作用”的负面效应 5
2、 无力偿付债务风险 6
3、 负债比率不当，资金流动性差 6
4、 还债不适时造成企业再筹资风险。 6
5、 借债不适度使得财务风险增加。 7
6、 负债比率过高，可导致股票市场价格下跌。 7
7、 过度负债有可能引起股东和债权人之间的代理冲突 7
三、 宝钢集团负债经营风险及防范分析 8
（一） 公司简介 8
（二） 宝钢集团负债经营现状分析 8
1、 偿债能力分析 9