市场经济呼唤企业走市场化融资道路,在当前我国社会主义市场经济发展的初级阶段,企业市场化融资仍然有许多障碍需要克服。一、产权关系模糊。当前,我国企业还没有真正成为自主经营、自负盈亏、自我约束、自我发展的独立的商品生产经营者,产权关系比较模糊,责、权、利不够明确,企业的增殖能力、竞争能力、发展能力受到很大限制。产权关系不明晰,使经营者利益与企业利益相分离,经营者既无压力又无动力,也无法形成自我发展和自我约束的机制,特别是只能负盈而不能负亏。在这种状态下,如让企业进入市场融资,一旦达不到预期目的,经营管理出现问题,预 The market economy calls for companies to take the road of market financing. At the initial stage of the development of the socialist market economy in China, there are still many obstacles to overcome in the market-oriented financing of enterprises. First, the property rights relationship is ambiguous. At present, China’s enterprises have not truly become independent commodity producers and operators with independent management, self-financing, self-discipline, and self-development. The property rights relationship is rather vague, and the responsibilities, rights, and benefits are not clear enough. The company’s ability to proliferate, compete, and develop Very limited. The property rights relationship is not clear, so that the operator’s interests and the company’s interests are separated. Operators have neither pressure nor motivation, and they can not form a mechanism for self-development and self-restraint. In particular, they can only bear negative profits and cannot bear losses. In this state, if enterprises are allowed to enter the market for financing, once they fail to achieve their intended purpose, there will be problems in management and management.