我国企业以及一些监管部门普遍把企业债券仅仅当成一种债务,这种观念导致了我国严重的“重股票融资、轻债券融资”现象。本文通过对企业债券与企业资产负债率关系的重新梳理,指出我国企业传统理财观念上的错误,并引入“企业的资产流动负债率”重新考察企业债券与企业资产负债率的关系,希望以此推进我国债券市场的发展。 China’s enterprises and some regulators generally regard corporate bonds as only a kind of debt, a concept that has led to the serious “heavy equity financing, light bond financing” phenomenon in our country. This paper reviews the relationship between corporate bonds and corporate debt-to-asset ratio, and points out the mistakes in the traditional corporate financial management concepts in our country, and introduces the relationship between corporate bonds and corporate debt-to-asset ratio In order to promote the development of China’s bond market.