求一篇关于负债经营的英文文献,不少于300字

Question

求一篇关于负债经营的英文文献,不少于300字

Answer 1

Liabilities,financial leverage available to the interests of business.The role of the so-called financial leverage is the financing of liabilities by the impact of the owner.Corporate debt,fixed interest,operating profit growth in earnings per share could lead to greater growth.As long as business investment rate of return than the interest rate liabilities,financial leverage will allow the interests of rate of return is greater than the rate of corporate investment income and higher debt ratio,the greater the interest of financial leverage.Due to the existence of financial leverage in the business of financing the balance of the rate of return higher than the rate of return,the rights and interests of rate of return will increase in the rate of return on the increased access to a greater extent.
Tax debt can play a role.Because under the current system,the financial liabilities included in the cost of interest,and before the deduction of income tax,it can generate tax so that small business income tax,thus increasing the equity capital gains.The higher interest charges on,the greater the tax section,so that businesses with liabilities using its own funds for all businesses compared to the cost increase,reduction in profits.The amount of income tax be reduced,thereby reducing the amount of income tax paid to reduce the tax burden on enterprises.
Liabilities of business enterprises can reduce the cost of capital.Operating requirements of the liabilities of enterprises regularly pay interest and principal payments due to creditors for a smaller investment risk and therefore required a low rate of return on investment.In addition,the role of the above-mentioned tax and therefore the cost of debt capital is usually less than the cost of equity capital.
Liabilities of business can benefit from inflation.Liabilities are generally due to debt service,an increase in the inflation rate,the original liability of the real purchasing power will decline,after the enterprise by reducing the amount of debt service,in fact,is to shift the consequences of currency depreciation to the creditors.
The balance of financing in comparison with other modes of financing,financing a short time,to spend a small price.Borrowing in particular,after consultation of the loan amount,repayment terms,with the period shall change,but also for solution through consultations with greater flexibility.
Fourth,the balance of the major risks in the operation and early warning measures
Debt to maintain the existing shareholders under the premise of control brought about by the rapid growth of wealth.Thus,capital markets,as well as for business managers have entrepreneurial spirit and readiness to take risks is a positive innovation as an important sign of the measure,that is,the level of debt.However,enterprises in the process of debt as a result of the business environment there are many uncertain factors,especially in pre-borrowing the idea of operating conditions is not conducive to business development,will result in the risk of debt.Run the risk of liability comes mainly from the financial risk and business risk issues.
Financial risk is increasing due to the use of debt and financial burden,and thus the solvency of the enterprise may be lost,eventually leading to the risk of corporate insolvency.When enterprises are facing low economic development,due to a fixed amount of the interest burden,the profits will fall,bringing the interests of a substantial decline in rate of return of negative impact.Funding for the liabilities,businesses have due and timely payment of interest and a statutory duty to repay the principal.Once the financial conditions deteriorate,or the operation of short-term funds is inappropriate,it will enable the enterprises are facing the risk of insolvency.Thus,on the one hand,may cause long-term part of the short-term liabilities,and enable enterprises to increase the operating costs; On the other hand,will also affect the credibility of enterprises to make financing more difficult.