debt financing

If the pretax profits are negative and EBIT is more than zero, enterprises can get some of tax shield of debt financing;

如果税前利润为负但息税前利润大于零，则债务融资可以获得部分税蔽；

The enterprise product unique, non-debt tax shield on corporate financing capacity of SMEs has no significant effect.

而企业产品独特性、企业非债务税盾对中小企业融资能力影响不显著。

The study educes the conclusion that the lease financing could lowers the financing cost, relieves the debt burden, facilities the financing, benefits the asset fluidity, beatified the balance sheet and cash ratio, uses the tax benefits and improve the firm management.

本文认为租赁融资方式对企业具有缓解债务负担、便捷融资、降低融资成本、增强资产流动性、优化负债结构及财务比率、利用税收好处、改善公司治理结构等好处。

Out empirical results support free cash flow hypothesis: debt financing could reduce free cash flow, force manager to promote management, improve investment efficiency, and help increase firm value.

这一发现验证了自由现金流理论：负债融资减少了公司的自由现金流，迫使经理改善管理和提高投资效率并最终促使了公司成长性的提升。

At the same time, we must optimize the structure of corporate debt financing, and increase long-term debt ratio and the proportion of corporate bond financing, give full play to the long-term debt and corporate governance effects of debt and improve financial performance.

同时，也要优化公司债务融资结构，适当增大长期负债比例和企业债券融资比例，充分发挥长期债权和企业债券的治理效应，提高公司财务绩效。

Endogenous financing is the main source of the project investment, which comes from operating cash flow of the enterprises. Namely, the enterprise cash flow income is used to invest the new projects. External financing consists of two ways, equity financing and debt financing.

内源融资就是项目投资的资金主要来源是靠企业的经营现金流，即以企业现金流收入来进行新项目投资；外部融资通过权益融资和债务融资两种方式实现。

The main influence factors of debt financing are Growth Rate, ROE and Cash flow from operating activities.

经营现金流量与财务杠杆之间呈显著正相关关系。影响我国上市公司债务融资的主要因素依次为企业成长性、ROE和经营现金流。

Characteristic of Convertible Bond Financing in China's Listed Companies: Debt Property or Option Property?

中国上市公司可转债融资特征: 债券性还是期权性?

Debt financing has leverage effect and tax benefit.

负债融资具有杠杆效应,有节税收益.

Compared with big enterprises, SMEs are inclined to internal and debt financing.

与大企业相比，中小企业融资表现出更偏好内源融资，更依赖债务融资等特征。

Secondly, Comprehensive score F of the financing effect of the debt rises with the rising of the asset-liability ratio. After reaching a certain critical value, F drops with the rising of the rising of the asset-liability ratio, there is optimum capital structure.

第二，债务融资效应的综合得分F随资产负债率的上升而上升，到某一临界值以后，F随资产负债率的上升而下降，存在最优资本结构。

Of course even a defaulting debtor, like Ireland, will need to secure new financing to make the economic restructuring that goes along with the debt restructuring viable.

当然，即使是违约的债务国，比如爱尔兰，也需要获得新融资，才能让与债务重组相伴的经济重组变得可行。

Debt financing for the deal will be provided by Citigroup, which also provided financial advice to AMC, while the law firm Husch Blackwell provided legal counsel.

花旗会给AMC娱乐提供有关交易的债务融资情况和其它财务方面的建议，而法律方面的事务则会由法律事务所胡布莱克威尔（Husch Blackwell）负责。

It is because the "tax shield" exists, making leverage the benefits of corporate access to debt financing, thereby increasing enterprise value.

正是因为税盾的存在，使得杠杆企业获得负债融资的好处，从而增加企业价值。

According to the regression results, we can know that the financial resources needed during the high growth process mainly come from the support of internal financing and debt financing. The debt financing is the preference of the companies in China during their process of development.

由此发现高增长所需的财务资源主要来自于·内部融资及债务融资的支撑，我国企业在发展过程中较偏好债务融资。

Vanke's criticism of Baoneng's debt financing alludes to concerns over shadow banking.

万科对宝能债务融资的批评，提及了影子银行引起的担忧。

This paper begins with a look at the classical theory of capital structure. On the basis of theoretical analysis, the effect of debt financing lies in financial leverage effect, the tax shield effect and the company governance effects.

本文首先对经典资本结构理论进行回顾，并在理论基础上分析得出债务融资具有财务杠杆效应、税盾效应以及公司治理效应。

Corporate governance includes legal and the political way, the essential factor market, the control market and the prestige market which belong to external control system. Simultaneously it includes internal control system, such as invigorative treaty, board of directors and debt financing.

公司治理结构既包括公司治理的法律和政治途径、要素市场、公司控制权市场、声誉市场等外部控制系统，同时包括激励和约、董事会、债务融资等内部控制系统。

This paper mainly uses information limited and pecking order theory, according to the financing mode of financing, internal financing, debt financing and stock financing analysis of F Water Service Company financing strategy, and analyzed their risk, put forward risk prevention measures.

本文主要是运用信息有限性和融资优序理论，根据融资方式中的财政融资、内部融资、债权融资和股票融资分析了F水务公司的融资策略，并且分析了各自的风险，提出风险防范措施。

This paper finds that the debt financing cost of listed firms increases after their privatizations.

本文发现，上市公司在被民营化后债务融资成本增大了；

Debt financing rate on the free cash flow has significant positive effect, but the short-term debt to free cash flow has a strong inhibitory effect, and long-term liabilities, there contribute to the effect of the amount of free cash.

债融资率对自由现金流有显著的正向作用，但是短期负债对自由现金流量有较强的抑制作用，而长期负债对自由现金量却有助长作用。

Thus, the market environment for enterprises to adopt high debt financing has created objective conditions.

因此, 这种市场环境为企业采用高负债融资创造了客观条件.

The tax effect of corporate capital structure is relevant with the cost of equity investment, debt financing costs and investment income.

资本结构对企业边际税率的影响与企业权益投资成本、负债筹资成本、投资收益有关。

Traditional opinion holds that owing to tax shield effect of debt financing market value is positively related to debt equity ratio.

传统理论认为：由于债务融资具有税盾效应，因而公司的市场价值与债务权益比率正相关。

Relative to debt financing, when enterprise is using equity financing, the dividend can only be issued to shareholders after the payment of corporate income tax. As a result, businesses cannot get tax benefits.

而相对负债融资，企业进行股权融资分配给股东的股利则必须要在缴纳完企业所得税之后才能发放，企业并不能获得税收上的利益。

The results show that: the scale, self financing, debt financing, government funding and regional market level have significant effect orr R& D investment.

研究结果表明：规模、内源融资、债务融资、政府资助和地区市场化程度比例对R&D投入有显著影响。

Limited Liability Effect, Z Cost, and the Corporate Debt Financing Policy

有限责任效应、Z成本与公司负债融资决策

Second term debt financing ( liabilities into long-term liabilities and short-term liabilities) by the length of the period of the effect of corporate governance there are some differences.

第二，不同期限的债务融资（本文按期限长短将负债划分为长期负债和短期负债）对公司治理效应的影响存在一定差异。

The average cost of debt financing is lower than equity financing.

相比股权融资而言，债权融资的平均成本要低，因此可以降低总的融资成本。

For those normally runed firms, shareholders are willing to take more debts to take the advantages of leverage and tax shield effect from debt financing, while the shareholders may not borrow from the ordinary debtees but from themselves.

对于正常经营的企业，为了发挥债务资本的税蔽效应和杠杆作用，股东往往愿意企业负债经营，但是负债的对象不一定是普通债权人，很可能是股东自身；