我国风电企业融资效率研究

发布时间：2018-04-21 07:51

本文选题：风电企业 + 融资效率　；参考：《内蒙古大学》2013年硕士论文

【摘要】：资金好像生命机体的血液,贯穿着整个企业运营的各个环节,是制约企业发展的首要因素,如果资金问题解决不好,直接关系到企业的生存和发展。而企业涉及的资金问题中最核心的便是融资效率问题。本文在低碳经济发展带动风电大力发展,资金问题成为了阻碍风电企业健康长远发展的问题之一的背景下,以风电企业为研究对象,具体以风电企业融资效率为落脚点,在梳理了国内外相关研究文献的基础上,以权衡理论和机会窗口理论为理论指导,结合当前风电企业融资现状,从理论和实证两方面分析了我国风电企业的融资效率,得出以下主要结论：①我国风电企业的融资现状表现为资金供给的有效性不足导致的融资结构失衡；②影响风电企业融资效率的因素主要包括：企业规模和资产结构、融资成本和融资风险、融资结构、企业盈利能力和发展能力以及企业价值的波动性；③我国风电企业融资效率水平整体低下且呈下降趋势,大部分风电企业属于明显非效率单位；④融资有效率企业的主营业务同比收入增长率和总资产周转率的平均值显著高于融资非有效企业的对应指标的平均值,且前者的资产负债率水平显著低于后者该值水平；⑤绝大多数处于规模收益递增的企业的DEA效率值较低。最后文章针对上述结论,从外部因素和内部因素两个角度给出提升我国风电企业融资效率的改善建议：①拓宽我国风电企业融资渠道；②完善促进风电企业发展的相关政策和制度；③规范风电企业的财务制度；④提高风电企业的组织绩效。文章希望通过以上研究对我国风电企业发展有所帮助。
[Abstract]:Capital is like the blood of the life organism, runs through every link of the whole enterprise operation, is the primary factor that restricts the development of the enterprise. If the fund problem is not solved well, it is directly related to the survival and development of the enterprise. The financing efficiency is the core of the capital problem involved in the enterprise. In this paper, the development of low-carbon economy leads to the development of wind power, and the capital problem has become one of the problems that hinder the healthy and long-term development of wind power enterprises. Under the background of wind power enterprises as the research object, the paper takes the financing efficiency of wind power enterprises as the foothold. On the basis of combing the domestic and foreign related research literature, taking the theory of weighing theory and the window of opportunity theory as the theoretical guidance, combining the current situation of wind power enterprise financing, this paper analyzes the financing efficiency of the wind power enterprise in China from both theoretical and empirical aspects. The main conclusions are as follows: (1) the current financing situation of wind power enterprises in China is characterized by the imbalance of financing structure caused by the insufficient availability of capital. 2 the factors that affect the financing efficiency of wind power enterprises mainly include: enterprise size and asset structure. Financing cost and risk, financing structure, profitability and development ability of enterprises, and volatility of enterprise value. The overall level of financing efficiency of wind power enterprises in China is low and decreasing. The average annual income growth rate and total assets turnover rate of the main business of most wind power enterprises are significantly higher than the average of the corresponding indexes of the financing inefficient enterprises. Moreover, the level of asset-liability ratio of the former is significantly lower than that of the latter. The DEA efficiency of most enterprises with increasing returns on scale is lower than that of the latter. Finally, according to the above conclusions, from the external factors and internal factors to improve the financing efficiency of wind power enterprises in China, the paper gives suggestions to improve the financing efficiency of wind power enterprises in China: 1 to broaden the financing channels of wind power enterprises in China; Improve the relevant policies and systems to promote the development of wind power enterprises. 3 standardize the financial system of wind power enterprises. 4 improve the organizational performance of wind power enterprises. This paper hopes that the above research will be helpful to the development of wind power enterprises in China.
【学位授予单位】：内蒙古大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.61

【参考文献】