論企業(yè)負(fù)債經(jīng)營與財務(wù)風(fēng)險的控制

——以萬科為例

目  錄

引言 2

一、負(fù)債經(jīng)營與財務(wù)風(fēng)險的內(nèi)涵及特征 2

（一）負(fù)債經(jīng)營的內(nèi)涵 2

（二）負(fù)債經(jīng)營的特征 2

（三）財務(wù)風(fēng)險的內(nèi)涵 2

二、負(fù)債經(jīng)營與財務(wù)風(fēng)險的聯(lián)系 3

（一）適度負(fù)債會帶來財務(wù)杠桿效應(yīng) 3

（二）過度負(fù)債會增加企業(yè)的財務(wù)風(fēng)險 3

三、基于負(fù)債經(jīng)營下萬科集團(tuán)財務(wù)風(fēng)險控制的案例分析 4

（一）行業(yè)分析 4

（二）萬科集團(tuán)負(fù)債經(jīng)營下財務(wù)風(fēng)險控制的現(xiàn)狀分析 5

四、基于萬科集團(tuán)的案例對企業(yè)負(fù)債經(jīng)營風(fēng)險防范的建議 7

（一）要有強(qiáng)烈的風(fēng)險意識 7

（二）確定合理的資本構(gòu)成 7

（三）確定合理的負(fù)債結(jié)構(gòu) 7

（四）保證資產(chǎn)的高度流動性 7

致謝 8

參考文獻(xiàn) 8

　　

摘要：在激烈的市場競爭中，負(fù)債經(jīng)營作為一種有效的經(jīng)營方式，廣為中外企業(yè)所運(yùn)用。雖然負(fù)債經(jīng)營在一定條件下能為企業(yè)帶來巨大的經(jīng)濟(jì)效益，但同時也會帶來財務(wù)風(fēng)險。文章闡述了負(fù)債經(jīng)營與財務(wù)風(fēng)險的內(nèi)涵與特征，分析了企業(yè)負(fù)債經(jīng)營與財務(wù)風(fēng)險的關(guān)系，并結(jié)合萬科集團(tuán)的案例，探討企業(yè)如何在負(fù)債經(jīng)營的情況下，有效地規(guī)避財務(wù)風(fēng)險，并提出相關(guān)建議。

關(guān)鍵詞：負(fù)債經(jīng)營；財務(wù)風(fēng)險；風(fēng)險控制；防范措施

Discussion on Business with Liabilities and Financial Risks

——Taking Vanke Group as an Example

Abstract：In the fierce competition of the market, liabilities, as an effective way of operating business, is widely used by Chinese and foreign enterprise. Liabilities do bring immense profits to the enterprise in some condition,however, it can also produce financial risks. The thesis is about to debating the relationship between liabilities and financial risks by analyzing the connotations and features of them. It will also set Vanke Group as an example to discuss how the enterprise can avoid the financial risks effectively in the condition of liabilities. In the end of it will list some advice about it.

Keywords：Liabilities; Financial risks; Risk control; Precautionary measures