1、 I 摘 要 在全球经济一体化和现代信用经济的条件下，举债经营已成为现代企业重要的融资 手段和策略。企业想要立于不败之地，就必须有足够的资金，而为了筹集资金，负债经 营是每个企业都必不可免的一条路。举债经营的合理运用，能够给企业带来财务杠杆效 益，有效地提高股东权益报酬率，但与此同时，债务也会给企业带来巨大的财务风险， 甚或破产的风险。因此，在投资之前，对企业偿债能力进行合理的分析，是企业预测风 险、保护企业利益的一种有效方法。 本文以*股份有限公司 2008 年-2011 年的财务信息为例，运用比率分析的方法，分 析该公司偿债能力的强弱，分为短期偿债能力分析和长期偿债能力分析两大部分，其中
2、结合流动比率、速动比率、现金流量比率、资产负债率、股东权益比率等指标，对该上 市公司的债务状况能力进行分析及提出合理的建议。 关键词：*；偿债能力分析；影响因素；资产负债表 II Abstract As the global economic integration and modern credit the development of the economy ,Debt management has become a modern enterprise significant financial means and strategy . Enterprise wants to be the
3、 winner, they must have enough fund. For raising fund, liabilities for operation is a inevitable way for each enterprise.Debt management of the reasonable application ,Can brings to the enterprise financial leverage benefits , Effectively improve the equity return rate of shareholders，at the same ti
4、me ,Potential financial risks of debt will be brought to the enterprise，Or bankruptcy .Before the investment, to analysis enterprise debt paying ability ,is an effective way for enterprises to predict risk and protect the business interests. In this article, for example the financial information of
5、Taiyuan heavy industry Company between 2008 and 2011, Use ratio based method to analyze the ability to pay off debts of this company. It divide into two big parts, which include short-term debt paying ability analysis and short-term debt paying ability analysis. Among of these, combination with inde
6、xes, such as current ratio, quick ratio and some other ratios involve cash flow, debt-to-assets, stockholders equity and so on. Then, analyze the debt situations and abilities of this listed company and give some reasonable advices. Key words: Taiyuan Heavy Industrial ;debt-paying ability analysis ; influence factors; Balance sheet III 目 录 摘 要 .I Abstract II 目 录 III 绪 论 1 1 偿债能力的概述 . 1 1.1 偿债能力的概念和内容 2 1.2 偿债能力分析的目的、必要性 2 1.3 偿债能力的主要
