权益筹资

企业权益筹资风险评估研究

Appraisal Research on Enterprise 's Rights and Interests Fund Raising Risk

在实际工作中，要合理确定负债筹资和权益筹资的比例，把握资本结构的最佳点，提高企业筹资效益，就必须深刻了解财务杠杆机制，把握财务结构。

In practice , it necessary to understand financial lever principle , to grasp financial structure .

这种理论导致企业管理者只重视负债筹资风险而忽视了权益筹资风险。

This kind of theory causes the superintendents only put emphasis on debt fund raising risk and neglect rights and interests fund raising risk .

权益筹资虽然不存在到期还本付息的问题，但企业对权益资金所有者，即普通股股东一般每年都要进行分红，理论上来讲，其筹资成本又比较大。

Although there is no maturity debt-servicing problems for rights and interests fund raising , the enterprise will give the owners of equity capital and also the shareholders for dividends annually , in theory , its fund raising cost is relatively large .

企业所筹资金按其所有权分为权益性筹资和债权性筹资。

The fundraising is divided into the owner 's equity fundraising and creditor 's right fundraising by its ownership .

权益性筹资与负债性筹资的区别在于筹取资金时所支付的成本以及为占用资金所付的费用上，其风险的大小和性质是各不相同的。

The differences between raising funds with right and interest and in debt lie in the costs of raising funds and occupying funds , the varying risks and the qualities .

换言之，股东权益可能在筹资活动中遭到稀释，但债券未遭连累。

In other words , shareholders may be diluted in capital raisings without bonds suffering .

筹资活动包括所有与长期负债、股东权益以及其他筹资项目有关的活动。

The financing activities include all activities related to the long-term liabilities , the stockholder 's equities and other financing items .

长期以来，从事财务实务工作的人员一直认为，企业发行可转换债务的主要动机是可转换债务相比直接债务或普通权益，其筹资成本更为低廉。

The general consensus concerning the motivation to issue convertible debt among financial practitioners for a long time is that convertible debt is a cheaper form of financing compared to straight debt or common equity .