债权融资

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 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 .

融资中常用的两种方式是债权融资和股权融资。

Debt financing and equity financing are most common methods for financing .

西方金融界对企业融资的研究较为成熟，经典的啄食理论（PeckingOrder）认为企业应该遵循内源融资债权融资股权融资的顺序进行融资。

The classic Pecking Order theory holds that enterprises should follow an order of internal financing-debt financing-equity financing to raise funds .

简析小企业应收债权融资的核算

On the Accounting of the Financing of Account Receivable in Small-size Enterprises

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。

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

欧洲银行发现长期债权融资也变得十分困难。

Banks are finding it hard to issue longer-term debt , too .

债权融资是企业外部融资的主要方式之一。

Creditor 's rights financing is one of the principal external financial mode .

与债权融资相比，配股的直接成本较低。

Compared with debt financing , the direct cost of RS is relatively low .

本文从债权融资的角度，对公司治理问题进行了探讨。

This paper discusses the corporate governance from the point of view of debt finance .

债权融资是公司融资的一个重要方式，其直接着影响企业的资本结构。

Corporate finance debt is an important way to the direct influence corporate capital structure .

债权融资期限结构对企业价值影响的实证分析

An Empirical Study of the Influence of Maturity Structure of Debt Financing on Enterprise Value

加强债券市场建设，拓宽债权融资渠道；

Strengthen the construction of bond market ;

企业债权融资方式的选择&承诺贷款，即期信贷及公开发行债券

The Choice Among the Spot Bank Loan , Commitment Loan and the Publicly Traded Debt

企业的资本结构由企业通过两种融资方式（债权融资和股权融资）所融集资金构成。

The enterprise 's capital structure is composed of the funds raised through two financing methods .

企业的融资方式分为债权融资和股权融资两类。

There are two ways for enterprise to raise money : debt financing and equity financing .

但在多数情况下，企业融资结构特指企业股权融资和债权融资的比例关系。

In most cases , financing structure refers to the ratio between equity finance and debt finance .

在外源融资中，股权融资所占比重又远远高于债权融资，即中国上市公司的融资顺序依次为股权融资、短期债务融资、长期债务融资和内源融资。

Further more , the proportion of stock financing in external financing is even higher than that of debt financing .

第2章上市公司对股权融资与债权融资的选择。

Chapter 2 The main content of chapter 2 is to analyze the preference of stock financing of Chinese listed companies .

第四章通过构造一个不完备契约融资模型，分析了债权融资下债权人对公司治理的参与选择和管理者的激励安排问题。

The fourth chapter analyses the choices of corporate control rights for creditors and the designs of manager 's effort incentives .

企业债务融资一般包括直接融资中的债权融资和银行间接融资。

In general , enterprises ' debt financing includes creditor 's rights financing in direct financing and indirect financing through banks .

企业通常的3种融资方式分别为内部融资、股票融资、债权融资。

The means of three kinds of finance inside business enterprises usually are internal finance , share finance and debt finance .

成熟市场的企业，由于技术和信息不对称方面的原因，更偏好于债权融资，而不是股权融资。

In developed market , enterprises prefer debt financing to right financing , based on the consideration of financing cost and information asymmetry .

企业正更多地寻求通过股权融资、而非债权融资来筹集资金，同时削减股票回购规模以保存现金。

Companies are increasingly looking to raise funds through equity issues instead of debt and conserve cash by scaling down on share buybacks .

可采用的融资模式包括财政融资、债权融资、项目融资和社会捐款。

At the same time , the possible financing models include fiscal financing , debt financing , and project financing and social donations .

中国目前广泛流行“股权融资偏好”的观点，即股权融资优先于债权融资。

In China , a popular viewpoint is the preference of equity financing , that is , equity financing is prior to debt financing .

第一章讨论了债权人治理问题的由来，并对债权融资与公司治理关联的相关文献做了一个回顾。

The first chapter discusses the origins of the creditor governance problem , and makes a review of related debt finance and corporate governance papers .

大量数据说明中国上市公司融资结构中股权融资的比重远远超过债权融资，与成熟市场条件下公司融资方式的啄食顺序不同，有着强烈的股权融资偏好。

Based on ample data , the proportion of equity financing is much more than that of credit financing in the capital structure of listed company .

合理的融资方式选择能有效地缓解股权融资和债权融资中的代理冲突。

The choice of the optimal financing policy can mitigate the conflicts of interest between agents and principals , arising from equity financing and debt financing .

从代理成本角度来看，股权融资与债权融资都具有一定的代理成本，通过选择合理的债权融资契约企业能够有效地降低整个代理成本。

From the respect of agency cost , both financing will have agency cost , but enterprises can reduce total agency cost by choosing debt covenants .

差异性源于金融体制的不同，市场主导国家股权融资是分散的，债权融资以公司债券为主，在银行主导国家股权集中化程度较高，债权融资以银行贷款为主。

The difference comes from that of the finance system . The stock financing is dispersed in the marketed-countries , bond is mostly in credit financing ;