“十二五”期间GD公司融资策略研究

发布时间：2018-10-25 16:38

【摘要】：电力行业是国民经济基础性产业，其可持续性发展是国民经济平稳较快发展的重要保障。作为资金密集型产业，电力投资额度巨大，其发展需要大量的资金支持，电力企业普遍面临资金缺口巨大的问题。特别是2010年以来在紧缩货币、严控银行贷款规模的宏观经济形势下，在电力行业市场化改革举步维艰的背景下，发电企业融资形势空前困难，融资难题成为其跨越发展、做强做大、实现“十二五”战略规划目标的瓶颈。在此背景下，本文通过对广东省一家特大型国有控股电力能源集团企业GD公司“十二五”期间的融资策略进行研究，对当前发电企业解决融资难题、突破发展瓶颈具有一定现实意义。本文采用文献研究和案例分析方法进行研究，通过文献研究，提出企业融资相关的理论依据，建立分析的理论框架；通过对融资案例的研究，运用详实的数据资料，运用SWOT分析、对比分析等方法，研究其可供选择的融资方式，并提出“十二五”期间适合GD公司的融资策略。首先，研究了GD公司的融资现状及存在的困难，重点分析了如资金缺口大、内源性融资能力不足、外源融资渠道单一、股权性投资融资难度大、上市公司资本运作力度不足等突出问题。其次，分别分析公司融资的宏观环境因素，融资的行业环境因素，融资的微观环境因素，研究得出GD公司“十二五”期间融资所具有的优势和劣势，面临的机会与威胁。再次，结合GD公司实际情况，同时借鉴同行业成功融资案例经验，研究适合其“十二五”期间使用的融资方式，重点分析了各种融资方式的可行性及其关注的重点，为融资策略设计提供了坚实的基础。最后，对GD公司可供选择的融资方式进行分类排序和重点优化，提出融资方式分不同层次推进的观点，，结合其融资需求提出相应的融资策略，以及融资策略实施的保障措施。
[Abstract]:Electric power industry is the basic industry of national economy, and its sustainable development is an important guarantee for the steady and rapid development of national economy. As a capital-intensive industry, electric power investment is huge, its development needs a large amount of capital support, power enterprises generally face the problem of huge funding gap. Especially in the macroeconomic situation of tightening money and strictly controlling the scale of bank loans since 2010, under the background of the difficult market-oriented reform of power industry, the financing situation of power generation enterprises is unprecedented difficult, financing problems become their leapfrog development. Strengthen and enlarge, realize the bottleneck of the strategic planning goal of the 12 th five-year plan. In this context, this paper studies the financing strategy of GD Company, a large state-owned holding power group enterprise in Guangdong Province during the 12th Five-Year Plan period, to solve the financing problems of current power generation enterprises. Breaking through the bottleneck of development has certain practical significance. This article uses the literature research and the case analysis method to carry on the research, through the literature research, proposes the enterprise financing correlation theory basis, establishes the theoretical frame of the analysis, through the financing case research, uses the detailed data, By means of SWOT analysis and comparative analysis, this paper studies the financing methods available for GD Company, and puts forward the financing strategies suitable for GD Company during the 12th Five-Year Plan period. First of all, the paper studies the current financing situation and the difficulties of GD company, especially analyzes the difficulty of equity investment financing, such as large fund gap, insufficient endogenous financing capacity, single external financing channel, and great difficulty in equity investment financing. Listed company capital operation dynamics is insufficient and so on outstanding question. Secondly, this paper analyzes the macro environmental factors, the industry environmental factors and the micro environmental factors of financing respectively, and concludes the advantages and disadvantages, opportunities and threats faced by the financing of GD Company during the 12th Five-Year Plan period. Thirdly, combined with the actual situation of GD Company and the experience of successful financing cases in the same industry, the paper studies the financing methods suitable for the 12th Five-Year Plan period, and analyzes the feasibility of various financing methods and the focus of their attention. For financing strategy design provides a solid foundation. Finally, the paper classifies and optimizes the financing methods available for GD Company, and puts forward the viewpoint of advancing the financing methods in different levels, and puts forward the corresponding financing strategies and the guarantee measures for the implementation of the financing strategies combined with its financing needs.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.61

【参考文献】