The high asset-liability ratio of many enterprises is caused by the interaction of many factors in the development of market economy, which is manifested in the national financial system, national macro-control and enterprise management.

(A) the reasons for the national financial system

In the planned economy period, the national credit policy was mainly concentrated in the national bank, and the financing channels needed for enterprise development were relatively single. Most of the idle funds of urban and rural residents are deposited in banks, and little or no funds are invested in enterprises. At the same time, the state finance is unable to allocate funds for enterprise development, and banks provide development funds to enterprises in the form of loans. Enterprises carry the burden of bank loans in the planned economy era and step into today's market economy. The competition brought by the market economy is more intense, and the survival and development are more difficult. Enterprises can only try their best to expand financing channels in order to gain opportunities for survival and development. New and existing debts are constantly accumulating, which makes the asset-liability ratio of enterprises increase day by day.

(B) the reasons for national macro-control

With the deepening of the national tax system, the taxes and tax rates levied by the state on enterprises are getting higher and higher. The tax burden levied by the state on enterprises has increased from two in 1978 to more than 20 now. More than 80% of the profits of many large and medium-sized enterprises are turned over to governments at all levels, and the net profits of enterprises are less than one fifth. In terms of enterprise income tax levied by the state, the income tax rate of state-owned enterprises is 55%, that of township enterprises is 45%, and that of foreign-funded enterprises is 33%. Generally speaking, the tax rate is high, and there is a certain imbalance between different enterprises. Enterprises want to seek development by borrowing and financing from banks. Based on this, the asset-liability ratio of enterprises remains high.

(C) the reasons for enterprise management

Due to the lack of corresponding market awareness, the enterprise's asset utilization rate is low, and it only pays attention to input and ignores output in production and operation, or lacks the corresponding ability to recover input, which makes the enterprise's capital occupation expand day by day. Idle funds owned by enterprises can not bring business benefits to enterprises, but make enterprises pay huge maintenance costs to maintain these idle funds, resulting in waste of assets. At the same time, due to the poor profitability of enterprises, including tax risks and operating losses caused by poor management, the funds owned by enterprises can not meet the needs of survival and development. In order to maintain normal production and operation, enterprises need to pay huge interest by relying on loans to make up for the lack of funds, and the asset-liability ratio is expanding day by day.

(D) Enterprises lack a scientific debt restraint mechanism

Enterprises lack scientific and effective debt restraint mechanism. On the one hand, their liabilities are arbitrary, mainly due to the short-term behavior of enterprises caused by the lack of corresponding development plans. In production and operation, enterprises only emphasize speed but ignore benefit, and borrow a lot irresponsibly, which leads to the increase of financing cost, the decline of economic benefit and the embarrassment of debt. On the other hand, it is manifested in the differences in rights and interests formed by enterprises at different levels, which makes the decision-makers of enterprises have the internal motivation to keep up with each other and improve. In order to obtain higher-level enterprise rights and interests, including the promotion of administrative positions, the promotion of salary, and the enjoyment of special rights and interests. Enterprise decision-makers virtually encourage the desire to increase the value of corporate debt. In order to upgrade to a higher level of enterprise type, enterprises do not hesitate to borrow a lot to achieve large-scale production, which is the main reason for the continuous expansion of asset-liability ratio of enterprises.

Second, reduce the corporate asset-liability ratio of countermeasures and suggestions

The high asset-liability ratio of enterprises will undoubtedly increase the business risks of enterprises. Once an enterprise makes mistakes in decision-making and poor management, it will face the risk of bankruptcy. The high asset-liability ratio of enterprises will also interfere with the normal operation of banks. When an enterprise can't repay the loan, its normal operation will be affected because it can't recover the loan, which will increase the pressure of national inflation. In addition, high debt ratio will also affect the development of enterprises, which will lead to the occurrence of triangular debts and make the production and operation of enterprises lose vitality. Finally, high debt ratio is not conducive to enterprise system reform and hinders the pace of enterprise modernization. Therefore, enterprises should formulate a reasonable asset-liability ratio according to their own development and reduce the asset-liability ratio as much as possible. The specific countermeasures are as follows.

(A) the implementation of enterprise property rights system reform

A standard of modern enterprise legal person is to own independent property and be responsible for its own profits and losses. Behind the high debt ratio of enterprises, it shows that enterprises have not yet become the main body of the real market economy, and they can default when they can't repay the principal and interest of loans, and the tax owed can be reduced or exempted, and the triangular debt will eventually be paid by the state. The fundamental way to solve the above problems is to reform the property right system, convert the loans owed by enterprises into state investment in enterprises, convert appropriations into loans, and then convert loans into investments, or convert bank's creditor's rights to enterprises into bank's equity in enterprises, so as to solve the problem that loans cannot be recovered and realize the replenishment of enterprise funds, which is a virtuous circle for enterprise's operation and production.

(2) Enterprises should make reasonable tax planning.

Taxation is the main source of national finance, and paying taxes is the basic obligation of enterprises. Strengthening tax management is an inevitable process to improve the management level of enterprises and an effective way to reduce the cost and debt ratio of enterprises. Based on this, enterprises must strengthen tax management, fully understand the national tax laws, grasp the changes of national tax policies, adjust the tax payment plan within enterprises in time, prevent and avoid tax risks, and reduce unnecessary tax expenditures. Formulate a scientific and reasonable tax planning scheme, and make corresponding tax planning schemes according to the national preferential tax policies as far as possible. Enterprise managers and tax authorities should establish and improve the internal control system of tax management, strengthen the evaluation level of tax-related business of enterprises, integrate and analyze all kinds of data, timely understand and master the tax dynamics of enterprises, improve the tax management level of enterprises, and reduce the tax cost, thus reducing the overall expenditure of enterprises and turning losses into profits.

(3) Establish and improve the investment and financing mechanism of enterprises.

Judging from the current situation, China's capital market has gradually matured, providing diversified channels for enterprises to finance and making it possible for enterprises to adjust their capital structure. Under this background, enterprises should establish a perfect investment and financing mechanism, change the single financing mode of bank loans into various direct financing modes such as issuing stocks, leasing, credit financing and issuing bonds, spread the investment and financing risks, get the maximum return on investment with minimum investment, improve the operation speed of enterprise capital, reduce the capital debt ratio of enterprises, and make capital give full play to the role of financial leverage. For more questions about controlling the asset-liability ratio of enterprises, you can find professional consultants on the platform of Billion Bee.

(D) the establishment of an effective financial risk early warning system

Financial risks are everywhere, and the establishment of financial early warning aims at preventing potential financial risks of enterprises in advance. Among the risk factors of financial risk, the unreasonable debt structure is the main reason. The establishment of debt structure financial early warning system can provide advanced financial deterioration signals for enterprise management. The asset-liability ratio reflects the overall and long-term solvency of the enterprise, while the short-term debt ratio, the ratio of quick liabilities to short-term liabilities and the flow safety factor are indicators reflecting the possibility and degree of the current financial crisis of the enterprise. Through the analysis of the asset-liability ratio index, we can judge whether the enterprise will have a financial crisis. Before predicting the financial crisis, enterprise managers can take targeted measures to prevent the financial crisis, rationally formulate the asset-liability structure, gain their understanding and support by speeding up the collection of accounts receivable, properly realizing fixed assets, and communicating with creditors such as suppliers and banks in time, so as to formulate a reasonable debt restructuring plan, effectively handle various creditor-debtor relationships, and effectively solve the financial crisis caused by high asset-liability ratio.