摘要现如今，钢铁公司资产负债率普遍偏高，有息负债比例高，对债务性资金依赖大，债务负担重；资本金到位率较低，政府扶持力度不够，主要收入来源依旧偏少，无法满足日常投资经营的资金需求，公司整体经营效率不高。在这样的背景下，探讨提高山东钢铁公司偿债能力的方法对促进山东钢铁公司的可持续发展具有理论和现实意义。本文首先分析了山东钢铁公司偿债能力现状、问题，化及导致山东钢铁公司偿债能力不足的原因，并运用公共产品理论、债务期限理论、优序融资理论等理论和思想，阐释了钢铁产业建设在资金量的供给和需求、债务结构等方面的特点。然后通过实地调査和案例分析，系统地分析了山东钢铁公司短期偿债能力、长期偿债能力现状，认为公司的负债结构不太合理，资本成本较高；资金供需不平衡，存在较大资金缺口，使企业偿债压力进一步増大；进入还款高峰期，短期借款与中长期借款集中到期，偿债压力叠加，对资金需求量较大，增加了偿债风险；资产质量不高弱化短期偿债能力。针对上述问题，建议建立偿债基金，加强企业对于偿债资金的管理；构建现金流管理机制，对其进行规范化的管理；完善投融资管理化体制，开拓多元化、市场化的融资渠道，创新融资方式：通过优化债务期限和结构，构建与投资回报期相匹配的债务期限结构，稳定资金流；开展多样化经营，调整业务结构，创新经营方式，提高公司整体盈利水平。关键字：公司；责任能力；资本AbstractToday,steelcompanieshaveahighdebt-to-debtratio,highdebt-to-incomeratios,largedebtobligationsandheavydebtburdens.Capitalmustbelow,thegovernmentsupportisinsufficient,themainsourceofincomeisstillless,canmeetthecapitalneeds,dailyinvestmentmanagementcompany'soveralloperatingefficiencyisnothigh.Inthiscontext,thediscussiononimprovingthesolvencyofshandongsteelcompanyisoftheoreticalandpracticalsignificanceforpromotingsustainabledevelopmentofshandongsteelcompany.Thispaperfirstanalyzesthecurrentsituation,problems,shandongironandsteelcompanysolvencyandthecauseofshandongironandsteelcompanydebtpayingabilityisinsufficient,andusingthetheoryofpublicproducttheory,debtmaturity,andthetheoryofoptimalsequencefinancingtheoryandthought,illustratestheconstructionofsteelindustryinthemoneysupplyanddemand,thecharacteristicsofthedebtstructure.Andthenthroughtheon-the-spotinvestigationandcaseanalysis,systematicallyanalyzestheshandongironandsteelcompany'sshort-termsolvency,long-termsolvencystatusquo,don'tknowaboutthecompany'sdebtstructureisreasonable,thecostofcapitalisbusiness;Theimbalanceinthesupplyanddemandoffundshasalargefundinggap,whichmakesitmorelikelythatcompanieswillpaytheirdebtsfurther.Intheperiodoftherepaymentperiod,theshort-termborrowingandthematurityofthemediumandlongtermborrowingconcentration,thedebtrepaymentpressurestack,thehigherdemandforthecapital,increasedtheriskofdebtrepayment;Assetquality,thoughnothigh,weakensshort-termsolvency.Toaddresstheseissues,itisrecommendedtoestablishadebtservicefundtostrengthenthemanagementofthedebtrepaymentfund.Buildingacashflowmanagementmechanismtostandardizeitsmanagement;Perfecttheinvestmentandfinancingmanagementsystem,developdiversifiedandmarket-orientedfinancingchannels,financinginnovationway:byoptimizingthestructureanddebtmaturity,buildmatchthepaybackperiodofdebtmaturitystructure,stablecashflow.Wewillcarryoutdiversifiedoperations,adjustthebusinessstructure,innovatethewayofoperationandimprovetheoverallprofitabilityofthecompany.Keywords:companies;Responsibilityability;capital目录摘要..........................................................................................................................................
