债务替代 meaning in Chinese

debt displacement

On the basis of the empirical analysis , the paper draws a conclusion that the theory of tax difference and the theory of debt substitutability are significantly correlated to the probability of using financial lease
在实证分析的基础上，得出税率差别理论、债务替代理论与我国企业融资租存在显著相关关系，并进一步指明了我国融资租赁与借款筹资是相互补充的，是相辅相成的。
In this part , the definition and the basic theory of financial lease and the tax policies of foreign financial lease are concisely discussed . first , the theory of tax difference , the theory of debt substitutability , the theory of agency costs and the bankrupt costs as well as the documents reviewed , are made as the theory basis of the paper . secondly , some inspirations have been drawn by reviewing the tax policies of financial lease of the west , from which the paper received some instructive proposes for chinese financial lease
这部分对融资租赁的定义，融资租赁基础理论及国外融资租赁税收政策三个方面做了简要评述，其中， ( 1 )税率差别理论、债务替代理论、代理成本和破产成本理论及对文献的回顾为本论文研究奠定了理论基础； ( 2 )在对欧美西方经济发达国家融资租赁税收政策的简要评述中得到的启示，为本论文研究我国融资租赁相关的税收政策的建议提供了必要的借鉴。