企业负债经营的问题与对策(外文翻译)Word文档格式.docx

企业负债经营的问题与对策(外文翻译)Word文档格式.docx

《企业负债经营的问题与对策(外文翻译)Word文档格式.docx》由会员分享，可在线阅读，更多相关《企业负债经营的问题与对策(外文翻译)Word文档格式.docx（30页珍藏版）》请在冰豆网上搜索。

企业负债经营的问题与对策外文资料翻译@#@Theadvantagesanddisadvantagesofdebtmanagement@#@I.INTRODUCTION@#@Liabilitiescanraisethemoney.Enterprisesinthecaseofinsufficientfunds,debtmanagementmayusemorepowertoexpandenterprisescaleandeconomicstrength,shorttimetoimprovetheoperationefficiencyofenterprisesandcompetitiveness.Anyaenterprisenotonlyinthecaseofinsufficientfundsneedindebtedness,infundsundertheconditionofrelativelyabundantindebtednessisalsoverynecessary.Evenifanenterpriseinternalcapitalaccumulation,morebyitsowncapitalaloneenterprisescaleandhecanusetheamountofmoneyislimited.Throughresponsiblebusiness,andcontrolcanbeobtainedmoretheamountofcapital.Aslongasreasonableusethesefundsorganizationandcoordination,expandthebusinessscopeofbusinessandthewayofthinking,improvethetechnologyandequipment,reformprocess,theintroductionofadvancedtechnology,updatingequipment,expandthescaleofenterprise,broadenthescopeofbusiness,improvethequalityoftheenterprise,canstrengthenenterpriseeconomicstrengthandcompetitionability.@#@ILTheadvantagesofdebtmanagement@#@Debtmanagementisacommoditytoacertainstageofeconomicdevelopment.Theinevitableproductofmarketeconomyistheonlywayforthedevelopmentofenterprises.Enterprisestodevelop,relyingoninternalaccumulationanditsownfundstomeettheneedsofenterprisedevelopment,notonlydoesnotallowtimeandthenumberwouldstillbedifficulttomeetthedemand,itwilllosebusinessopportunitiesandconstraintsoftherapiddevelopmentofenterprises.Rationaluseofdebt,toenablebusinessestoobtainfinancialleverageeffect.Improperusemayincreasetheenterprise'@#@sfinancialrisk,sothatenterprisesinvolvedinfinancialcrises.@#@Taxdebtcanplayarole.Becauseunderthecurrentsystem,thefinancialliabilitiesincludedinthecostofinterest,andbeforethedeductionofincometax,itcangeneratetaxsothatsmallbusinessincometax,thusincreasingtheequitycapitalgains.Thehigherinterestchargeson,thegreaterthetaxsection,sothatbusinesseswithliabilitiesusingitsownfundsforallbusinessescomparedtothecostincrease,reductioninprofits.Theamountofincometaxbereduced,therebyreducingtheamountofincometaxpaidtoreducethetaxburdenonenterprises.@#@Liabilitiesofbusinessenterprisescanreducethecostofcapital.Operatingrequirementsoftheliabilitiesofenterprisesregularlypayinterestandprincipalpaymentsduetocreditorsforasmallerinvestmentriskandthereforerequiredalowrateofreturnoninvestment.Inaddition,theroleoftheabove-mentionedtaxandthereforethecostofdebtcapitalisusuallylessthanthecostofequitycapital.@#@Liabilitiesofbusinesscanbenefitfrominflation.Liabilitiesaregenerallyduetodebtservice,anincreaseintheinflationrate,theoriginalliabilityoftherealpurchasingpowerwilldecline,aftertheenterprisebyreducingtheamountofdebtservice,infact,istoshifttheconsequencesofcurrencydepreciationtothecreditors.@#@Debtmanagementisbeneficialtomaintaincontrolofcompanies.Intheenterprisefacinganewfinancingdecisions,suchasiftofindstockwaytoraiseequitycapita^notonlythecostofcapitalthandebtfinancing,willalsobringequityscattered,affecttheexistingshareholdersforthecontroloftheenterprise.ButiftoissuebondsorborrowfromBanksandotherfinancialinstitutionscapital,toraisedebtcapital,thecreditorhasnorighttoparticipateinthecompanyfsoperatingdecisions,whileexpandingenterprisecapitalsourcedoesnotaffectthecontroloftheenterprise,isconducivetomaintainingexistingshareholderscontrolenterpriseproductionandbusinessoperationactivities.@#@Thebalanceoffinancingincomparisonwithothermodesoffinancing,financingashorttime,tospendasmallprice.Borrowinginparticular,afterconsultationoftheloanamount,repaymentterms,withtheperiodshallchange,butalsoforsolutionthroughconsultationswithgreaterflexibility.@#@III.Thedisadvantagesofdebtmanagement@#@Debttomaintaintheexistingshareholdersunderthepremiseofcontrolbroughtaboutbytherapidgrowthofwealth.Thus,capitalmarkets,aswellasforbusinessmanagershaveentrepreneurialspiritandreadinesstotakerisksisapositiveinnovationasanimportantsignofthemeasure,thatis,thelevelofdebt.However,enterprisesintheprocessofdebtasaresultofthebusinessenvironmenttherearemanyuncertainfactors,especiallyinpre-borrowingtheideaofoperatingconditionsisnotconducivetobusinessdevelopment,willresultintheriskofdebt.Runtheriskofliabilitycomesmainlyfromthefinancialriskandbusinessriskissues.@#@Financialriskisincreasingduetotheuseofdebtandfinancialburden,andthusthesolvency