强化国有企业资产负债约束的成效分析——以河北省国有企业为例

Effectiveness Analysis of Asset-Liability Constraint Strengthening in the State-Owned Enterprises:a Case Study of Hebei Province

河北省是工业大省,高负债的行业较多,研究国有企业资产负债约束对推进结构性去杠杆意义重大。选取河北省各行业具有代表性的省属上市国企及市属非上市国企,依据财务报表数据,运用财务分析的方法,从国企负债水平与结构、负债效益与风险两个角度考察河北省国企资产负债约束成效,进而提出完善资产负债自我约束及强化资产负债监管约束两种主要方法解决国企高负债问题。

Since Hebei Province is a large industrial province with more highly indebted industries,it is significant to study the asset-liability constraint in the SOEs for the promotion of structural deleveraging.This paper selects some representative provincial listed SOEs and municipal non-listed SOEs of various industries in Hebei Province,and examines their asset-liability constraint effectiveness from two perspectives:the level and structure of the liabilities,and the benefits and risks of the liabilities,which is conducted according to the financial statement data and with the financial analysis method.Then two main approaches to improve the self-restraint and to strengthen the supervision of asset-liability are put forward to solve the problem of high indebtedness of SOEs.