短期借款

TAF于2007年12月启动，今年关闭。在此期间，TAF为银行提供1个月或3个月的短期借款。

The TAF provided one - or three-month loans to banks from December 2007 until it closed this year .

而生物医药却正经历着如同十几年前的3C业一样的早期发展阶段，企业数量开始增长、规模得以扩大，但风险也随之攀升，企业扩张所需资金更多地依靠短期借款的增长。

Now the biology industry is going through the same early developing stages with 3C industry , the number of companies is increasing as well as the risks . So the raising of expanded capital has to depend on short-term debts . 3 .

对两类企业负债结构进一步发现：3C行业短期借款比例呈下降趋势，长期借款比例呈上升趋势；而生物医药行业与之相反。

Furthermore , we compare the debt structure between 3C industry and biology industry , and find out that the short-term debt ratio of 3C has an upward trend , while the long-term debt ratio has a downward trend . However , the situation of biology industry is reverse .

在银行借款中，主要是短期借款，长期借款比例很小。

Short-term borrowing is the main section of bank loan .

短期借款和贸易信用对企业经营的影响

The Influence of Short-term Loan and Trade Credit Enterprise Operation

总体而言，现阶段我国上市公司较多利用债务融资，融资方式主要是利用短期借款。

Generally speaking , nowadays Chinese List Company favors debt financing , especially on short debt .

你应该看到，不良信贷服务现金提前短期借款。

You should note , however , that bad credit cash advance services are short-term borrowing .

信用卡不是货币，它是短期借款，必须用货币来偿还。

Credit cards are not money-they are short-term loans which must be paid off using money .

对大多数公司来说，向银行短期借款常常被称为费力和烦恼的任务。

For many corporations , borrowing short-term money from banks is often a labored and annoying task .

为何具有系统重要性的大型金融机构就有资格通过短期借款大肆提高自身的杠杆比率？

Why should large systemically critical financial institutions be allowed to heavily leverage themselves with short-term borrowing ?

根据穆迪的调查，美国的大银行们如今都纷纷夸口其流动资产是其短期借款的3到11倍。

America 's biggest banks now boast liquid assets of three to11 times their short-term borrowings , according to Moody 's.

包括：短期借款、应付款项、应交税金以及其他流动负债的核算；

This part includes : the accounting of short-term loans , accounts payable , taxes payable , other current payables ;

研究发现，内源融资、短期借款对治理绩效的影响是一个先上升后下降的过程。

The study found that effect of endogenous financing and short-term borrowing on governance performance is first increase and then decreased .

这些企业都犯了致命错误，即依赖短期借款为他们快速扩张和风险越来越大的贷款账目提供资金。

Both made the fatal mistake of relying on short-term borrowing to fund their rapidly expanding and increasingly risky loan books .

中国央行的政策已导致货币市场利率大幅下降，这些利率决定着企业和银行的短期借款成本。

The moves led to sharp falls in money market interest rates , which determine short-term borrowing costs for companies and banks .

他们正在考虑有关防止银行过度依赖短期借款（贝尔斯登和雷曼就属于这种情形）的各项提议。

They are considering proposals to prevent banks from growing overly dependent on short-term borrowings as was the case with Bear and Lehman .

随着资本市场发展和完善，我国上市公司财务资源的取得涵盖了商业信用、短期借款、长期借款、发行债券和股权融资（包括配股、增发）等全面的融资方式。

With the development of capital market , companies can finance with commercial credit , short-term loan , long-term loan , bonds and stock equity .

股权融资方式有配股，非公开发行，公开发行等：债务融资方式有长、短期借款，发行公司债券、企业债券等。

Equity financing includes placement , private placement , public offering ; debt financing includes long-and short-term borrowings , issuance of corporate bonds , enterprise bonds .

不同期限的银行借款对企业会计稳健性的影响不同，短期借款比例对会计稳健性产生显著的正向的影响，短期借款比例越高，会计稳健性越强。

The various maturities of bank borrowings have different impact to the conservatism . The higher the proportion of short-term loans , the accounting conservatism is stronger .

此外，我国有着特殊的股权结构，且存在预算软约束问题，在我国短期借款是否能对资产替代与投资不足产生抑制作用还有待进一步检验。

Moreover , since China has special ownership structure and soft budget constraint problems , inhibitory effect of short-term borrowings on asset substitution and underinvestment remains to be further inspection .

鲁比尼全球经济咨询公司的研究报告显示，中国房地产行业的债务总额在过去5年飙升280%，其中短期借款比例越来越高。

Total debt in the sector has jumped 280 per cent over the past five years , according to RGE research , with an increasingly large portion of it short-term borrowing .

因此，它们试图以各种可能的方式囤积现金：减少订单，以空前速度减少库存，减少短期借款。

As a result , they attempted to hoard cash in any way they could : they slashed order books , ran down inventories at an unprecedented pace and cut short-term borrowing .

实证结果证明：公允价值变动损益与企业长期借款显著正相关；计入资本公积的公允价值变动与企业短期借款正相关。

Empirical results show that : the correlation between changes in fair value and long-term loans was significant positive ; change in fair value included in capital reserve and short-term loans are related .

当内源融资、短期借款上升到超过某个范围时，会引起治理绩效的下降；股权融资、长期借款的影响也呈现出曲线形式，先下降后上升；长期债券反向影响公司的治理绩效。

The effect of equity financing and long-term borrowing to governance performance is also shown a form of curve , first fall and then promote . The long-term bond is reverse impact of performance .

其中一项比率是比较银行资产与稳定资金来源（如存款或较长期无担保债务），这将有助于监管机构确定一家银行是否过度依赖短期借款。

One ratio would compare a bank 's assets to its stable sources of funding , such as deposits or longer-term unsecured debt . This would help regulators determine whether a bank is too dependent on short-term borrowings .

研究发现：对于内源融资现金流，超低增长时的相关度高于超高增长时的相关度，而作为外源融资中的第一负债融资方式的短期借款则相反。

It is found in the study that : The relevance of endogenous financing cash flow at ultra-low growth is higher than that at ultra-high growth , while it is opposite of short-term loan , the biggest financing method in exogenous financing .

再次回到我和莱因哈特合著的书：理论和历史均告诉我们，任何一个通过短期借款过度举债的经济体无论是政府、银行业、企业，还是消费者都极易受信心危机的影响。

Again appealing to my work with MS Reinhart , both theory and history tells us that any economy that is excessively leveraged with short-term borrowing be it government , banking , corporate or consumer is highly vulnerable to crises of confidence .

结合我国的制度背景，国有控股会削弱会计信息稳健性，短期借款比例高的私有企业会计政策更加稳健，而长期借款比例高的国有企业会计稳健性较低。

Combined with the special background of China , the state-owned holding undermines the accounting conservatism . The private enterprise with a high proportion of short-term loans shows higher accounting conservatism while the state-owned enterprise with a high long-term proportion shows lower accounting conservatism .

结果表明，上市公司偏好内源融资，在外源融资中更偏好股权融资，其次为发行债券，再次为短期借款，最后为长期借款。

The results show that the listed companies prefer endogenous financing , and in the external financing the listed companies are more preferred equity financing , followed by the issuance of bonds , again for short-term borrowing , the last for the long-term borrowing .

此外，常识告诉我们，必须对具有系统重要性机构的短期借款施加更严格的控制；考虑到各市场在衰退期高度相关，还需对过大的风险头寸的限制措施实施定期监控。

In the meantime , common sense dictates the need for stricter controls on short-term borrowing by systemically important institutions , as well as regularly monitored limits on oversized risk positions , taking into account that markets can be highly correlated in a downturn .