我国国有地勘单位投融资模式创新研究

发布时间：2018-10-24 17:34

【摘要】：我国国有地勘单位有着不同于一般意义上事业单位的体制机制，也有着不同于一般国有企业的体制机制，“戴事业的帽子，走企业的路子”是对目前我国国有地勘单位体制机制的生动描述。本文主要采用理论与实践相结合的方法、案例研究等方法，从“主体、方向、渠道、方式”四个维度分析我国国有地勘单位投融资模式的演进历程、矿业发达国家商业性地勘投融资模式以及我国“事转企”投融资模式，力图探索在目前条件下我国国有地勘单位投融资模式的创新之道，并提出政策性建议。我国的大多数地勘单位，无论是创办目的，还是经营规模，，与国外矿业发达国家“初级矿业（勘探）公司”都极为相似，最大不同在于国外的初级矿业（勘探）公司一般是私营的，而我国的地勘单位一般是国营的事业单位。加拿大、澳大利亚等国家有着发达的矿业资本市场，这决定了这些国家商业性地勘的投融资模式是以资本市场为导向的。国有事业单位转企改制本质上是投融资模式的变革。我国科研事业单位转企改制成功的模式，为我国国有地勘单位改革提供了经验借鉴。国有地勘单位改革，可以在体制不变的前提下，推动投融资模式改革，并以此来倒逼体制的变革。我国国有地勘单位投融资模式创新的指引是：“企业”（主体）+“勘查开发一体化”（方向）+“资本市场”（渠道）+“股票等股权性融资工具”（方式）。目前，我国国有地勘单位可选择的五种模式分别为“境外并购”模式、“境内借壳上市”模式、“多赢合作”模式、“矿产勘查‘信托’+‘期权’”模式、“地勘单位内部‘资金池’”模式。
[Abstract]:The state-owned geological prospecting units in China have different institutional mechanisms from institutions in the general sense, as well as from state-owned enterprises in general. Following the way of enterprise is a vivid description of the system mechanism of state-owned geological prospecting units in China. This paper mainly adopts the method of combining theory with practice, case study and so on, analyzes the evolution course of investment and financing mode of state-owned geological prospecting units in China from four dimensions of "subject, direction, channel and way". The mode of investment and financing of commercial geological prospecting in developed mining countries and the mode of investment and financing in our country try to explore the innovative ways of investment and financing mode of state-owned geological prospecting units in China under the present conditions, and put forward some policy suggestions. Most geological prospecting units in China are very similar to "primary mining (exploration) companies" in foreign mining developed countries, regardless of their purpose or scale of operation. The biggest difference lies in the fact that the primary mining (exploration) companies abroad are generally privately owned, while the geological prospecting units in China are generally state-owned institutions. Canada, Australia and other countries have developed mining capital markets, which determines that the investment and financing mode of commercial geological prospecting in these countries is capital market oriented. The transformation of state-owned institutions into enterprises is essentially a transformation of investment and financing mode. The successful transformation of scientific research institutions into enterprises provides experience for the reform of state-owned geological prospecting units in China. The reform of state-owned geological prospecting units can push forward the reform of investment and financing mode on the premise of unchanged system, and thus force the reform of system. The guideline of investment and financing mode innovation of state-owned geological prospecting units in China is as follows: "Enterprise" (main body), "Integration of Exploration and Development" (Direction), "Capital Market" (Channel), "Equity financing tool such as Stock" (way). At present, the five models that the state-owned geological prospecting units in China can choose are "overseas M & A" mode, "domestic backdoor listing" mode, "multi-win cooperation" mode, "mineral exploration 'trust' option 'mode", respectively. The model of 'fund pool' inside geological prospecting units.
【学位授予单位】：电子科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.1

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