摘要：企业的融资结构往往能反映出一个企业的经营管理情况，因为不同的融资结构产生的效果也不同。因此，企业常常试图在经营活动的过程中探索最佳的融资结构，这样企业就能更接近其最佳市场价值。一般情况下认为，一个企业的最佳融资结构就是它的负债达到百分之百时的融资结构。但在实际情况中，融资活动一般都会涉及很多不可控因素，例如活动中的各种成本费用，筹资面临的风险，融资方式的选择等等。在当今这个发展迅速，竞争激烈的社会大环境下，企业只有找到属于自己的最适合的融资结构，才能提高自身价值和综合竞争力，才能适者生存。

　　　因此，研究一个企业的经营管理情况可以从其融资结构着手，本文以苏宁电器为例，作为家电连锁企业的巨头之一，发展扩张速度迅猛，通过对其现状的介绍和融资结构及其效应的分析，针对其存在的问题，剖析其成因，最终提出相关建议。

关键词 苏宁电器；融资；结构优化；影响因素

Abstract：Financing structures tend to reflect the operation and management of an enterprise, because the effect of different financing structure is also different. Therefore, companies often try to explore the best financing structure in the business activities of the process, so that enterprises can be closer to the best market value. Under normal circumstances, the best financing structure of an enterprise is its liabilities reached one hundred percent financing structure. But in reality, financing activities usually involve a lot of uncontrollable factors, such as the activities of the various costs, financing risks faced financing options. In today's rapid development of highly competitive social environment, only to find their own most appropriate financing structure in order to improve the value and competitiveness in order to survival of the fittest.

　　　Therefore, the study of the operation and management of an enterprise can proceed from its financing structure, the Suning Appliance, for example, as one of the giant home appliance chain enterprises, the rapid pace of growth and expansion, through its introduction of the status quo and the financing structure and its effectsanalysis, to analyze the causes of its problems, and ultimately make relevant recommendations.

Keywords   Suning     Financing   Structure Optimization   Influence Factors