我国电力企业融资问题研究

发布时间：2018-05-30 20:32

本文选题：电力企业 + 融资问题　；参考：《山东科技大学》2017年硕士论文

【摘要】：经济发展,电力先行。电力企业的发展对于我国的经济民生具有十分重要的影响。作为技术、资金密集型产业,为了符合行业的发展要求,电力企业必须保持一定规模的资产投资,而大规模的投资需要相应的资金保障。国家电力产业政策出台以来,我国电力行业在调整产业结构上已经取得了良好成绩,如何做大、做强也成为企业发展战略中的重要目标。本文在查阅分析国内外相关文献资料、调查经济数据库、与电力企业工作人员联系的基础上,以融资理论为指导,针对我国电力企业融资特征,分析我国电力企业的融资现状,探讨部分新型融资方式在我国电力企业中的应用,运用SPSS和Eviews软件对电力上市公司融资进行实证分析,结合比较典型的电力企业——山东电力集团公司的融资需求为例进行分析。主要研究内容如下:(1)电力企业融资的相关理论。依据融资理论对电力企业融资内涵界定,分析电力企业融资的特征。(2)电力企业发展与融资现状。首先从经济发展和智能电网建设带动电力企业发展两个角度分析了我国电力企业发展现状。然后分析了融资发展的历程和现状,指出目前我国电力企业采用较为单一的融资方式,而且依赖银行借款等外源融资,自有资金占比较低,并总结了我国电力企业四种融资来源。(3)我国电力企业融资方式及案例分析。探讨信托融资、融资租赁、产业投资基金、项目融资、电网企业上市在电力企业融资中的应用。在此基础上以我国典型电力企业——山东电力集团公司为案例进行了融资租赁和资产证券化两种融资方案的设计。(4)我国电力企业融资结构与公司绩效的实证分析。通过对电力上市公司的实证分析,发现我国电力企业上市公司存在融资结构比例失衡,企业投入资本使用效率不高、不能充分发挥财务杠杆作用、市场化发展不足等问题。(5)总结电力企业融资问题与对策。在前文研究的基础上,分析目前我国电力企业融资中存在的问题,针对问题从企业自身、市场、政策等不同角度提出对策。
[Abstract]:Economic development, electricity first. The development of electric power enterprise has a very important influence on the economy and people's livelihood of our country. As a technology and capital-intensive industry, in order to meet the development requirements of the industry, electric power enterprises must maintain a certain scale of asset investment, and large-scale investment needs the corresponding capital guarantee. Since the promulgation of the national electric power industry policy, China's electric power industry has made good achievements in adjusting the industrial structure, and how to make it bigger and stronger has become an important goal in the development strategy of enterprises. On the basis of consulting and analyzing the domestic and foreign literature, investigating the economic database, connecting with the staff of the electric power enterprise, and taking the financing theory as the guidance, this paper analyzes the current situation of the financing of the electric power enterprise in our country according to the characteristics of the financing of the power enterprise in our country. This paper discusses the application of some new financing methods in Chinese electric power enterprises, and makes an empirical analysis on the financing of listed power companies by using SPSS and Eviews software. This paper analyzes the financing demand of Shandong Electric Power Group Company, a typical electric power enterprise. The main research contents are as follows: 1) the related theory of power enterprise financing. According to the financing theory, this paper defines the connotation of power enterprise financing, and analyzes the characteristics of power enterprise financing. 2) the development and financing status of electric power enterprise. Firstly, this paper analyzes the present situation of electric power enterprises in our country from the two angles of economic development and smart grid construction to promote the development of electric power enterprises. Then it analyzes the course and current situation of financing development, and points out that at present, the electric power enterprises in our country adopt a relatively single financing method, and rely on foreign financing such as bank loans, so the share of their own funds is relatively low. The paper also summarizes four financing sources of Chinese electric power enterprises. This paper discusses the application of trust financing, financing lease, industrial investment fund, project financing and grid enterprise listing in power enterprise financing. On this basis, taking Shandong Electric Power Group Company, a typical electric power enterprise in China, as a case study, the paper makes an empirical analysis of the financing structure and corporate performance of Chinese electric power enterprises by designing two financing schemes: financing lease and asset securitization. Through the empirical analysis of listed power companies, it is found that the proportion of financing structure is out of balance and the efficiency of capital investment is not high, which can not give full play to the role of financial leverage. This paper summarizes the financing problems and countermeasures of electric power enterprises. On the basis of the previous research, this paper analyzes the problems existing in the financing of electric power enterprises in our country, and puts forward some countermeasures from different angles such as the enterprises themselves, the market, the policies and so on.
【学位授予单位】：山东科技大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.61

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