Under normal circumstances, the asset-liability ratio is the lever for enterprises to regulate financial management, and there should be a ratio between lending and shareholders' investment. As a listed company, there are many financing methods to choose from when it encounters a capital shortage, but one of the most important channels is to borrow from banks, and the other is to raise funds through the securities market. For the company, the interest cost and risk tolerance should be considered when borrowing from the bank; However, the cost of raising funds through the securities market will be lower. Therefore, as a listed company, it should make full use of the financing function of the securities market, so it is more inclined to raise funds in the securities market, which is the main reason why the asset-liability ratio of listed companies is generally low.
From a positive point of view, the asset-liability ratio is generally low, which shows that the company has low financial cost, low risk, strong solvency, stable operation and cautious attitude towards investment behavior. However, some professionals believe that the generally low asset-liability ratio indicates that enterprises tend to be cautious in their operations. From the accounting point of view, it is abnormal that the asset-liability ratio is too low or too high. If it is too low, it means that the business of the enterprise is very conservative or bearish on its own industry. Under normal circumstances, the asset-liability ratio of European and American countries is around 55%, while that of Japan and South Korea is 75%.