L公司融资风险评价与控制研究

发布时间：2018-01-07 22:32

本文关键词：L公司融资风险评价与控制研究　出处：《西安石油大学》2017年硕士论文　论文类型：学位论文

【摘要】：中小企业作为国民经济中最为活跃的部分,其在增加就业岗位、提升人民生活水平、促进地区经济发展等多方面有着举足轻重的作用。中小企业融资难问题是制约无数中小企业发展的主要问题,也是众多国内外学者重点关注和研究的问题之一。而新三板市场就是将具备承担高风险能力且有高收益需求的资本金引流到成长期中小企业的资本市场,近年来新三板市场融资频率与募集资金规模快速增长,一定程度上有效缓解了融资难的状况,但其流动性弱、交易不活跃及挂牌企业自身劣势等在某种程度上影响了新三板市场的融资功能,导致融资风险大,影响公司的整体竞争力,降低可持续发展能力。因此,在公司可持续发展战略规划中,对融资所带来的风险进行识别、评估与控制是促进公司健康发展的关键之举。本文基于融资风险的基础理论,以新三板挂牌企业L公司为研究对象,首先根据L公司的基本发展概况、融资现状,识别L公司目前融资中的内、外部融资风险,并探究其成因;其次,通过专家问卷打分法,从反映公司融资风险的五大能力25个财务指标中选取15个构建L公司融资风险评价指标体系,利用因子分析法以公司15个财务指标的27组季度财务数据为分析基础,建立L公司融资风险综合评价模型,评估融资风险的大小程度以及融资风险主要影响因素;最后,基于风险识别、风险成因分析及风险评价实证研究结果,提出L公司融资风险控制的具体策略,以期对降低L公司的融资风险有所裨益,提高公司抗风险能力,同时为新三板挂牌企业管理当局对融资风险的防范与控制提供参考。
[Abstract]:As the most active part of the national economy, small and medium-sized enterprises are increasing jobs and improving people's living standards. Promoting regional economic development plays an important role in many aspects. The financing difficulty of SMEs is the main problem that restricts the development of numerous SMEs. It is also one of the problems that many domestic and foreign scholars focus on and study. The new third board market is to drain the capital which has the ability to bear the high risk and the high income demand to the capital market of the small and medium-sized enterprises in the growing period. In recent years, the financing frequency and the scale of raising funds in the new third board market have increased rapidly, which has effectively alleviated the financing difficulties to a certain extent, but its liquidity is weak. The inactivity of trading and the weakness of listed enterprises affect the financing function of the new three board market to a certain extent, leading to the large financing risk, affecting the overall competitiveness of the company, and reducing the ability of sustainable development. In the strategic planning of the sustainable development of the company, the identification, evaluation and control of the risks brought by financing are the key to promote the healthy development of the company. This paper is based on the basic theory of financing risk. Taking company L as the research object, firstly, according to the general situation of the development of company L and the current situation of financing, the paper identifies the internal and external financing risks of company L, and probes into the causes of the financing. Secondly, through the expert questionnaire scoring method, 15 out of the 25 financial indicators reflecting the financing risk of the company are selected to construct the L company financing risk evaluation index system. Based on 27 groups of quarterly financial data of 15 financial indexes, a comprehensive evaluation model of L company's financing risk is established by using factor analysis method. Evaluate the degree of financing risk and the main influencing factors of financing risk; Finally, based on the risk identification, risk cause analysis and risk evaluation empirical research results, put forward the specific strategy of L company financing risk control, in order to reduce the financing risk of L company. At the same time, it provides a reference for the management authority of the new third board to prevent and control the financing risk.
【学位授予单位】：西安石油大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.63

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