財務杠桿 的英文怎麼說
中文拼音 [cáiwùgānggǎn]
財務杠桿
英文
financial gearing-
At present, it is difficult to accurately display the financial lever, capital cost and earnings before interest and tax with any capital structure theories, which limits the role playing in finical decision of enterprises
摘要目前的各種資本結構理論難以準確地顯示出財務杠桿、資本成本和企業息前稅前盈餘之間的聯系，使理論對企業融資決策的指導作用受到限制。So we consider five financial indexes includes stock b / p, e / p, current stock size, current stock stru and financial levge by the international tradition, then descriptive statistical test method and cross section statistical test method proved that b / p and current stock size have marked effect on the securities yield besides coefficient b. in the third chapter, the article fut forward a risk factor model, estimates yield sequences of every risk factor by weight regression, and then estimates each risk factor coefficient of different stock by time sequence regression, at last we can reckon the portfolio risk o2p and yield rp which consists n stocks
結合國際慣例，文章考慮了股票的凈值市價比（ b p ） ，市盈率倒數（ e p ） ，流通規模（ size ） ，流通比例（ stru ）和財務杠桿（ levge ）等五個財務指標，應用描述性統計檢驗和橫截面統計檢驗等多種方法，結果表明，除系數以外，凈值市價比（ b p ）和流通規模（ size ）對證券收益率部有重要的影響。在論文的第三章，提出了一個基於多因素的風險因子模型，並用加權回歸和時間序列回歸等方法估計出了不同證券的各風險因子系數（類似於單指數模型中的系數） ，據此，即可衡量出一個包括n只股票的組合的風險_ p ~ 2和收益率r _ p 。At the same time, the option is always used to speculate because of it ' s characteristic of high financial lever, low bargaining cost, the convenience of complete a business transaction and high fluidity
但同時，期權具有的財務杠桿高、交易成本低、交割便利、流動性強的特點，也頻頻被應用於投機牟利。Finally, the thesis introduces vanke real estate company for the demonstration research object, pointing out that the vanke ' s advantage of competition is the reasonable capital structure. to meet the future development, the thesis suggest that vanke ' s optimal capital structure decision be the debt increase moderation, bring into financing leverage, multi channel financing, furthermore, to increase the facility of the financing, it should be on the base of the stability of the capital structure
最後，文章以萬科房地產公司為實證研究對象，以資本結構的相關理論為基礎，指出萬科經濟合理的資本結構是萬科在激烈的市場競爭中的優勢，並從發展的角度，提出了萬科最佳資本結構的建設性決策意見：適度增加負債融資，發揮財務杠桿作用；採取多渠道融資方式，在保持資本結構相對穩定的基礎上增加應變的靈活性。Then, this article proves that corporation share and debt can all possess the option characteristic by introducing the tool of theory of option. thus it can explain the financing structure of the company to the financial lever from the angle based on call option of company ' s value
然後，本文通過引入期權理論這一工具，闡明公司的權益和債務都可具備期權特性，從而把公司的融資結構和財務杠桿效應可以從基於公司價值的看漲期權的角度加以解釋。Analysis of limited conditions of financial lever
淺議財務杠桿作用的限制條件Premise analysis of microeconomic leverage theory ' s application
經營杠桿與財務杠桿原理及應用前提條件分析Maximum leverage level
最高財務杠桿率限制Definition of leverage
財務杠桿率定義These nine signals measured three areas of a firm ' s financial condition : profitability, financial leverage / liquidity, and operating efficiency
這9種信號數值衡量一家公司財務狀況的三個方面：收益率、財務杠桿率/資產變現率和運作效率。Financial leverage is to use the funds to adjust liabilities interests of capital gains means
財務杠桿是企業利用負債資金來調節權益資本收益的手段。Therefore, a careful study and analysis of financial leverage impact of financial leverage a variety of factors, understand its role, nature of the interests of businesses and capital gains, is a reasonable use of financial leverage service to enterprises the basic premise, from the definition of financial leverage, this paper analyzes the impact of the real estate enterprises in the financial leverage relevant factors, and its real estate equity capital gains impact
因此，認真研究財務杠桿並分析影響財務杠桿的各種因素，搞清其作用、性質以及對企業權益資本收益的影響，是合理運用財務杠桿為企業服務的基本前提，本文從財務杠桿的定義入手，分析了影響房地產企業財務杠桿的相關因素，以及其對房地產企業權益資本收益的影響。According to trade - off theory, the level of the debt financing is unduly high, so the companies should try to lower the financial leverage in order to increase their market values
根據權衡理論，我國企業目前的負債水平過高。企業應該通過適當降低財務杠桿的方法來提高企業的市場價值。When the rate of property fee before tax is greater than firm liability interest rate. improving liability rate can add firm surplus of every stock for the action of finance level. when the rate of property fee before tax is less than firm liability interest rate. improving liability rate can reduce firm surplus of every stock for the action of finance level
當資產稅前報酬率（ ebit a ）大於企業的負債利息率時，提高負債比例，由於財務杠桿的作用，能夠增加企業每股盈餘，當資產稅前報酬率（ ebit a ）小於企業負債利率時，提高負債比例，將減少企業的每股盈餘。Dfl degree of financial leverage
財務杠桿系數Degree of financial leverage
財務杠桿系數The risk is evaluated by degree of operating leverage and degree of financial leverage
用財務杠桿系數和營業杠桿系數來評估融資的風險。It holds that preference of stock financing does not help to lower financing cost, exploit financial leverage, and reasonably allocate social resources
認為過于偏好股權融資不利於降低上市公司的融資成本和發揮財務杠桿作用，不利於社會資源的合理配置。Chapter three analyzes the several effects such as governance effect and financial lever effect which be produced by the capital structure
資本結構效應分為治理效應和財務杠桿效應，其中前者又分為負債效應和股權效應。As the system of leverage that magnified credit collapses in on itself, borrowing becomes harder and demand falters
財務杠桿系統放大了信貸規模，當它發生自我崩塌時，借貸難度會陡然增加，而需求會變得萎靡不振。分享友人