企业资产负债规划模型研究

Research on the Programming Model of Enterprises' Asset-liability

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。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因素的影响。本文以企业经营活动为背景,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匹配,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理论依据。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更加具有可操作性,扩展了模型的应用范围。

Moderate enterprises' debt,as.an important lever of the enterprises' activities of operation,will play an important part.In reality,the enterprises' operation activities can't get away from the financing.The financing scale and term of the enterprise are also affected by various factors.Therefore,this thesis has designed the programming model of the enterprises' assets-liabilities with the background of the enterprises' operation activities,and made sure the enterprises' liability scale.The study on the programming model of enterprises' asset-liability also provide theory foundation for making the term constitutions of the enterprises' obligations and liabilities scale match mutually,to reduce the enterprises' operating risk,and to make enterprise maximize net-assets yield rate.