财务杠杆与经营杠杆在企业中的应用——以中兴通讯为例

北京理工大学珠海学院2020届本科生毕业论文The application of financial management leverage principle inEnterprisesAbstractIn modern society,financial management is inseparable from the application of theprinciple of leverage.Appropriate and reasonable application of the principle of leverage canprovide the correct basis for business decision-making,and make enterprises avoid financialrisks and operating risks,so that enterprises can obtain leveraged returns and maximize theirprofits.The principle of leverage is generally divided into three parts,financial leverage,operating leverage and total leverage.This article first analyzes the basic theory of the threemajor levers.The sources and functions of operating leverage,total leverage and financialleverage,and their relationship with each other,etc.From the perspective of a comprehensiveoverview,and from a deeper perspective to analyze,based on the structure diagram of thelever to demonstrate the movement of the three major levers in order to achieve a clearerpurpose.Combined with the position and application of some leverage principles in modernenterprises,taking ZTE Corporation's application of leverage principles as an example,theprinciple of leverage is obtained through qualitative analysis,quantitative analysis,and furtheranalysis of financial indicators and capital structure.Its position in the enterprise and how tooperate in the management of the enterprise can make its universality and usefulness.Therefore,to make an objective and reasonable evaluation of the application of the principleof leverage for enterprises,the purpose is to more companies use the principle of leverage tobring better development and management decisions to the enterprise.Finally,it summarizessome common misunderstandings about the use of the principle of leverage,and puts forwarda few suggestions based on it,so as to deepen the individual understanding of the principle ofleverage and improve the level of application.Keywords:operating leverage;financial leverage;leverage effect;Reasonable application ofthe principle of leverage