企业资产负债规划模型研究.docVIP

企业资产负债规划模型研究 1. 42 《数受级济技术经济研究}2005年第2期企JI:..资产负债札划棋型研先朱吝安颜日初(中南财级政法大学信息学陇){摘要}适度负债融资作为企业经营活动的重要杠杆，对企业的发展起着重要的作用O实际上，企业经营活动离不开融资(至少融资是一种主要的筹资方式), 企业的融资规模和期限要受到多方面阁素的影响。本文以企业结营活动为背景，结合实例，在一定规划期内，给定企业资产收益率和负债利息率等，利用线性规划原理，建构企业资产负债规划模型，确定企业的负债规模，以保证企业债务的期限结构和企业负债规模的相互阻配，以及企业资产的流动性，为降低企业经营风险，最终使企业获得净资产收益的最大化提供了现论依据。本文还对模型中的有关外生条件进行了分析，使模型更加符合企业实际和史加具有可操作性，扩展了模型的应用范围。关键词资产负债率规划模型净资产收益企业按管风险中图分类号F224.0 文献标识码A Research on the Programming Model of Enterprises’ Asset. ’liability Abstract: Moderate enterprises’ debt, as. an important lever of the enterprises’ activities of operation, will play an important p红t.In reality, the enterpri酬，opera懦tion activities can’t get away from the financing. The financing scale and term of the enterprise are also aHected by various factors. Therefore, this thesis has designed the programming model of the enterprises’ assets-liabilities with. the background of the enterprises’ operation act vities, and made sure the enterprises’ liability scale.丁hestudy on the programming model of enterpri院s#039;asset-liability also provide theory foun??dat on for making the term ωnstitutions of the enterprises’ obligations and liabilities scale match mutually, to reduce the enterprises’ operating risk, and to make enterprise maximize net-assets yield rate. Key words: Asset-liability Ratioj Programming Model; Net Gains of Assetj Op??eration Risk of Enterprise …、问题的提出在企业资产营运过程中，筹资决策是一项重要的管理内容。筹资决策与企业的资产结构??????????????????????????????????????????????剥潮瑨偲??潦????敮悭虑业惯溃灬??牥莹捡来晲周慲慬慦批痴晡桡灲睩梣扡牭猎獣浏瑥捯琅抠浡湥祩牡??睯剡??敲剩????慷??晩摥瑨敮周潦汩浡???牥溡璡瑥莹潮?物慴????獴灯潦瑨敲慹慬??卣卯晥捴敳??扪潶景浵摵殣步硩敬牤楮猃????????摥??????????????????獥?瑥慹湳????潧????????症湡虑卩斡摡景慢琐??摥牰癞潵楯牄????牡??牴?慴楴??慬瑥潦瑨捴潲楳桥杲斣畤楤畮浡瑵捥??浩厣澣卓????????????沣???闵杮????楬??????????????慲牰物莹??牡整獥??捴物虑楯懖禣?牭敤厣??歩慬湤穥??????犳???????卥敳獥敓????楮敤物潮楴????????????????舍物瑵??????卥?溣??????畮涌汹卓牯??浭玡厡??玑枣?獥卥楥??????????整??????????厡??慲桥??整杲????????????????獥???莹??玡厡???????楮??????????楬玑灥牥??慭??楮??????????????玡???????????????牡慲????润敢景汩浩???炡卓楡獓扬????????????????????莹?????????敲