Research On Debt Financing Problems And Countermeasures Of D Company

At present,the sustainable development of state-owned chemical industry is facing great challenges and opportunities.Under the influence of overcapacity and base effect,the profitability of state-owned chemical enterprises gradually weakened.In addition,affected by the structural problems of the shrinking proportion of supply and demand and the small space for the decline of raw material prices,the income of state-owned chemical industry is gradually decreasing,and many chemical enterprises are eager to seek and expand new projects to achieve greater revenue.However,in the process of chemical enterprises’ eager development,problems such as high asset-liability ratio and unreasonable debt structure are constantly exposed,which indicates that the state-owned chemical industry generally has the problem of debt financing.Therefore,in view of the current situation of these problems,it is urgent to take some measures to effectively control the financial risk of debt financing of chemical enterprises.In this paper,D Company,a state-owned chemical enterprise,is taken as the research object,and the case study method is used.Firstly,the research background of this paper is elaborated.Secondly,it introduces MM theory and optimal order financing theory.Again,the company’s debt financing of state-owned chemical enterprises D management status are analyzed,and the company are discussed in enterprise debt financing asset-liability ratio under the problem cause the overall debt paying ability weak concentrated due debt,debt structure is not rational pressure big,high interest costs for larger impact on profits and cash flow problems;The causes of the problems are analyzed,including the lack of a reasonable debt financing budget,the unsound control of debt financing cost,the low efficiency of debt financing funds,and the unsound financial risk prevention mechanism.Finally,the paper puts forward some risk control countermeasures,such as improving the scientific nature of debt financing budget and optimizing capital structure,strengthening the control of debt financing cost to reduce interest burden,improving the use efficiency of debt financing funds,and establishing and perfecting debt risk prevention mechanism.In this paper,the research based entirely on D the company’s financial data,on the one hand,hope that through this article analysis and research,improve enterprise debt financing risk and risk management theory,the correlation of,on the other hand,hope that through this article research for the domestic other same or similar state-owned manufacturing enterprise debt financing risk control to provide the reference significance.