湘潭九华经济建设投资有限公司融资模式创新研究

发布时间：2018-06-17 00:57

本文选题：九华经济建设投资公司 + 融资模式创新　；参考：《湘潭大学》2017年硕士论文

【摘要】：中国地方政府融资平台是在我国特殊的国情及历史条件的背景下、在中国投融资体制改革过程中出现的具有中国特色的一种产物,是指由中国地方政府及其部门和机构等通过财政拨款或注入土地、股权等资产设立,承担政府投资项目融资功能,并拥有独立法人资格的经济实体。在地方政府缺乏替代融资渠道,中国转移支付制度尚不完善背景下,融资平台缓解了地方财政提供地方公共服务和推动地方经济发展双重任务的压力,调动了地方积极性,其在加强基础设施建设、道路建设、城市改造、住房建设、经济发展以及应对国际金融危机冲击等方面发挥了重要的积极作用。与此同时,也出现了一些需要高度关注的问题,例如,地方政府融资平台公司举债融资规模迅速膨胀,运作不够规范,地方政府违规或变相提供担保,偿债风险口益加大,部分银行业金融机构风险意识薄弱,对融资平台公司信贷管理缺失等。随着时间的推移和社会的发展,这些融资平台的负面效应己逐步显现。因此,笔者在这一背景下研究九华经济建设投资融资有限公司的融资模式创新问题,具有较强的理论与实践意义。本文首先对政府融资模式和风险、政府融资平台、政府债务风险及其管理的相关文献进行综述,总结出该领域的研究现状;然后,对九华经建投的融资现状研究,第一,对九华经建投公司进行简单介绍,第二,从财务报表中提取数据对九华经建投公司的融资现状进行分析,第三,在现状分析的基础上研究九华经建投融资的主要特征,第四,在以上分析的基础上研究九华经建投融资存在的主要问题;紧接着对九华经建投融资环境进行SWOT分析,在研究九华经建投的融资模式创新时,不应抛开融资环境而对融资模式创新进行泛泛而谈,而应特别关注融资的外部环境,因此笔者采用、SWOT分析研究九华经建投融资环境的优势、劣势、机遇和威胁,并列以矩阵分析,为后文分析九华经建投的融资模式创新提供融资环境保障依据;第四章为九华经建投的融资模式创新,在上文的分析框架下,从传统融资模式创新、市场化融资模式创新、项目融资模式创新和海外融资模式创新四个方面研究九华经建投融资模式的创新。最后,研究九华经建投的融资风险和控制措施,包括融资风险敞口和融资缺口的敏感性影响因素分析,并从逐步实现公司转型、夯实融资网络体系、严格控制融资规模等多方面提出了风险控制建议措施。
[Abstract]:Chinese local government financing platform is a kind of product with Chinese characteristics under the background of China's special national conditions and historical conditions, and in the course of the reform of China's investment and financing system. It refers to the economic entity set up by Chinese local government and its departments and institutions through financial allocation or injection of land equity and other assets to assume the financing function of government investment projects and have the status of independent legal person. In the absence of alternative financing channels for local governments and the imperfect transfer payment system in China, the financing platform alleviates the pressure on local finance to provide local public services and promote local economic development, thus mobilizing local enthusiasm. It plays an important and positive role in strengthening infrastructure construction, road construction, urban reconstruction, housing construction, economic development and coping with the impact of the international financial crisis. At the same time, a number of issues that require high attention have emerged, such as the rapid expansion of debt financing by LGFVs, the lack of proper functioning, the violation of local government regulations or the provision of guarantees in disguise, and the increased risk of debt servicing. Some banking institutions have weak risk awareness and lack of credit management for financing platform companies. With the passage of time and the development of society, the negative effects of these financing platforms have gradually appeared. Therefore, it is of great theoretical and practical significance for the author to study the innovation of the financing mode of Jiuhua Economic Construction Investment and financing Company under this background. This paper first summarizes the relevant literature on government financing model and risk, government financing platform, government debt risk and its management, and summarizes the current research situation in this field. This paper briefly introduces Jiuhua Jingjian Investment Company. Secondly, it extracts data from financial statements to analyze the current financing situation of Jiuhua Jingjian Investment Company. Third, it studies the main characteristics of Jiuhua Economic Construction Investment and financing Company on the basis of current situation analysis. Fourth, it studies the main characteristics of Jiuhua Economic Construction Investment and financing Company. On the basis of the above analysis, this paper studies the main problems existing in the investment and financing of Jiuhua Economic Construction, and then carries out SWOT analysis on the investment and financing environment of Jiuhua Economic Construction, and studies the innovation of the financing mode of Jiuhua Jingjian Investment. We should not put aside the financing environment, but should pay special attention to the external environment of financing, so I use SWOT analysis to study the strengths, weaknesses, opportunities and threats of Jiuhua Jingjian investment and financing environment. The fourth chapter is about the innovation of financing mode of Jiuhua Jingjian Investment, which is based on the traditional financing mode innovation under the framework of above analysis, and provides the basis of financing environment guarantee for the later analysis of the financing mode innovation of Jiuhua Jingjian Investment, the fourth chapter is the innovation of the financing mode of Jiuhua Jingjian Investment Corporation. This paper studies the innovation of Jiuhua Jingjian investment and financing model from four aspects: market financing model innovation, project financing mode innovation and overseas financing model innovation. Finally, the paper studies the financing risk and control measures of Jiuhua Jingjian Investment Corporation, including the analysis of the sensitive factors of financing risk exposure and financing gap, and from gradually realizing the transformation of the company to consolidate the financing network system. Strict control of the scale of financing and other aspects of the risk control measures.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39;F830.42

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