摘要:在市場經濟體制逐漸完善的環境下，我國很多企業逐漸的擁有了自己的自主權，加之企業籌集資金的方式和手段越來越多，而且企業的很多資金都是由負債所構成的。于是企業主要靠負債來進行經營，也就是所謂的負債經營。對負債經營的研究將使負債經營相關理論更具有實效性，對后代理論發展具有指導意義，為負債經營理論體系的完善增補了新內容。

　　　論文主要采用了文獻分析法和案例分析法，從負債經營理論的基本概述入手，利用江蘇舜龍管業科技有限公司的財務數據，從資本結構、借款結構、償債能力、財務杠桿、債務成本收益、籌資渠道六大方面進行分析，找出該公司負債經營方面存在的問題和影響因素，針對公司實際情況，提出解決問題的對策。江蘇舜龍管業科技有限公司在負債經營方面存在的主要問題有三方面，主要包括負債比重大、償債能力低、籌資渠道單一。影響江蘇舜龍管業科技有限公司負債經營的因素是負債籌資風險、負債代理成本、財務拮據成本、償債能力的聲譽，針對江蘇舜龍管業科技有限公司現狀，提出策略如下：增強償債能力；加強企業經營管理，提高資金利用率；研究資金市場，把握發展趨勢；應樹立風險意識、建立風險防范機制；控制負債規模，確定最優資本結構。

關鍵詞 負債經營；借款結構；財務杠桿；策略

Abstract:In the environment of the gradually perfect market economic system, many enterprises gradually have their own autonomy in our country, also financing ways and means of the enterprises become more and more, and a most of the funds are composed of liabilities. so enterprises mainly rely on liabilities to manage, that is the so-called debt management. Research on debt management will make the debt management related theory more effective, which has guiding significance to the offspring of theoretical development, and add new content for the perfect theoretical system of debt management supplement.

　　　This paper mainly adopts literature analysis and case analysis, starting from the basic overview of debt management theory, this paper analyzes capital structure, debt structure, debt paying ability, financial leverage and debt costs and benefits of these five aspects using the financial data of Jiangsu Shunlong pipe technology co.,ltd. To find out the problems and factors existing in the debt management, the thesis puts forward the countermeasures to solve the problem according to the actual situation of the company, the main problems include big debt ratio, debt paying ability and simple financing ways. And, the influencing factors mainly lie in four aspects, such as the risk of debt financing, debt agency cost, cost of financial constraints and the reputation of debt paying. According to the situation of the enterprise, This thesis puts forward some strategies includes strengthening the debt paying ability, enhancing the management to improve the capital utilization efficiency, further researching the funding market to grasp the development trends, establishing the awareness of risk, setting up the prevention mechanisms of risk, and controlling liability scale to determine the optimal capital structure.

Keywords  Debt Management  Loan Structure  Financial Leverage  Strategy