企业举债经营的计划与管理研究

该文将举债经营作为一种有效的战略性管理工具，通过分析债务与企业预期收益和现金流量之间的关系，提出了改进企业资本结构、举债经营计划与管理定量模型的概念框架和可供操作的方法。文章分析了传统的企业举债经营计划与管理模型的缺陷，建立了符合企业财务战略管理要求的举债经营计划与管理模型，并对该模型在实际应用中可能发生的问题进行了探讨。

A Study of Planning and Management of Enterprises in Liability

The authors regard financial leverage as an efficient tool in a company's strategy of manage- ment. By analyzing the relationship in liability and expected returns (or cash flow), a framework and a feasible method are provided about capital structure and planning-and-managing leverage model. The authors analyze the traditional models' drawbacks and establish a planning-and-managing leverage model that accords with the demand of financial strategy. In addition, the issue of the model in practice is discussed.