廣東康美藥業(yè)資本結(jié)構(gòu)存在的問題及對(duì)策

摘要隨著資本結(jié)構(gòu)的發(fā)展，越來越多的企業(yè)開始利用資本結(jié)構(gòu)的相關(guān)理論成果對(duì)企業(yè)管理進(jìn)行分析。企業(yè)的資本結(jié)構(gòu)直接影響企業(yè)治理，其不僅影響企業(yè)的業(yè)績(jī)，對(duì)企業(yè)經(jīng)營(yíng)發(fā)展也起重要作用。通過資本結(jié)構(gòu)的理論，分析了康美藥業(yè)目前資本結(jié)構(gòu)的現(xiàn)狀，其存在債務(wù)結(jié)構(gòu)不合理、融資渠道單一、流通股比例高以及凈資產(chǎn)負(fù)債率低等問題；企業(yè)為解決存在的問題提出的對(duì)策為：調(diào)整負(fù)債結(jié)構(gòu)，優(yōu)化短期借款和長(zhǎng)期借款比例；拓寬企業(yè)融資渠道，多元化融資方式；優(yōu)化企業(yè)股本結(jié)構(gòu)，使股權(quán)結(jié)構(gòu)適度集中產(chǎn)生股權(quán)的激勵(lì)作用和加強(qiáng)企業(yè)自身經(jīng)營(yíng)能力保證企業(yè)的長(zhǎng)期發(fā)展。關(guān)鍵詞：資本結(jié)構(gòu)負(fù)債結(jié)構(gòu)權(quán)益結(jié)構(gòu)多元化融資AbstractWiththedevelopmentofthecapitalstructure,moreandmorecompaniesarebeginningtoanalyzethemanagementofcompaniesbasedontherelevanttheoreticalresultsofthecapitalstructure.Thecompany'scapitalstructurehasadirectimpactoncorporategovernance,whichnotonlyaffectscorporateperformance,butalsoplaysanimportantroleincorporategovernanceanddevelopment.ThecurrentstatusofKangmeiPharmaceutical'scapitalstructureisanalyzedusingthetheoryofcapitalstructure.Theexistingproblemsare:inadequatedebtstructure,asinglefinancingchannel,highproportionofcirculatingsharesandlownetdebtratio.Thecountermeasuresputforwardbyenterprisestosolvetheexistingproblemsareasfollows:adjustingthedebtstructure,optimizingtheratioofshort-termborrowingandlong-termborrowing,expandingcorporatefinancechannelsanddiversifyingfundingmethods;,optimizecorporatecapitalstructure,,makingtheequitystructuremoderatelyconcentratedtoproducetheincentiveeffectofequityandstrengtheningtheenterprise'sownmanagementabilitytoensurethelong-termdevelopmentofenterprises.Keywords:capitalcompositionliabilitycompositionEquitystructureDiversifiedfinancing目錄TOC\o"1-2"\h\u一、引言 致謝本文的順利完成，由衷的感謝我的指導(dǎo)老師肖文峰副教授，從論文的選著，提綱擬定、內(nèi)容結(jié)構(gòu)確定排版、到最后的論文敲定，都是在肖文峰副教授的悉心指導(dǎo)下完成的，肖文峰副教授學(xué)識(shí)淵博，對(duì)待工作一絲不茍、治學(xué)嚴(yán)謹(jǐn)?shù)?/p>