内蒙古资本市场融资能力战略性研究

发布时间：2018-01-23 05:30

本文关键词： 资本市场融资战略研究　出处：《内蒙古大学》2013年硕士论文　论文类型：学位论文

【摘要】：当下,中国经济面临的一大问题是“企业多,融资难；资金多,投资难”。资本市场直接融资功能的进一步提升,将是解决这一问题的重要路径。在经济发展中,资本市场作为调整经济结构、推动区域经济发展的重要工具,已与区域经济融为一体,成为区域经济的重要组成部分。内蒙古自治区经过多年市场经济建设,成绩斐然,国民经济取得长足发展。但从地区经济增长结构来看,能源大区的“投资依赖症”仍然比较严重,资本市场的发展已经成为影响和制约内蒙古经济快速增长的关键因素之一。因此,加强内蒙古资本市场融资能力建设,有效扩大地区直接融资比重,满足全区广大企业多元化的投融资需求,进一步增强资本市场服务于地方实体经济的能力,是个值得研究的问题。本文整体研究思路为：站在全国战略高度阐明发挥资本市场融资功能的理论基础和现实意义,汇总和分析现有资本市场直接融资方式及其优缺点,为后文提供全局性概念框架；进而详细论述内蒙古资本市场直接融资现状、存在问题及成因,在介绍和借鉴国内外资本市场先进经验的基础上提出加强场融资能力建设的战略模式,并在该模式指导下提出相应意见和建议。文章重点采用定量分析方法论述了资本市场直接融资对于促进区域经济发展、优化区域产业机构的积极意义。通过全面分析内蒙古地资本市场直接融资情况,深入阐述了存在的三大问题,即与全区经济发展不相适应、与间接融资情况相比偏低、与全国平均水平比显不足,进而提出导致上述问题的三个主要因素,即上市公司家数少、部分上市公司再融资能力不足、债券融资规模有待进一步扩大。他山之石,可以攻玉。文章较为全面的总结分析了美国、香港以及北京、上海等发达国家或地区的先进经验和做法,并从中提炼总结出加强融资能力建设的三大战略模式,即制定发展纲要、建设多层次股权市场、发展债券市场。在该战略模式框架下,文章提出了提升内蒙古资本市场融资能力的对策和建议,以更好地服务于地方经济社会发展,实现资本市场和区域经济和谐共赢。
[Abstract]:At present, China's economy is faced with a major problem is "more enterprises, financing difficult;" The further improvement of the direct financing function of the capital market will be an important way to solve this problem. In the economic development, the capital market is to adjust the economic structure. The important tools to promote regional economic development have been integrated with regional economy and become an important part of regional economy. After many years of market economy construction, Inner Mongolia Autonomous region has made great achievements, and the national economy has made great progress. However, from the structure of regional economic growth, the "investment dependence" in the energy region is still relatively serious. The development of capital market has become one of the key factors influencing and restricting the rapid economic growth of Inner Mongolia. Therefore, to strengthen the capital market financing capacity in Inner Mongolia, effectively expand the proportion of direct financing in the region. It is worth studying to meet the diversified investment and financing needs of enterprises in the whole region and to further strengthen the ability of the capital market to serve the local real economy. The overall research ideas of this paper are: standing in the national strategic height to clarify the theoretical basis and practical significance of giving full play to the function of capital market financing, summarize and analyze the existing capital market direct financing methods and their advantages and disadvantages. To provide the overall conceptual framework for the following; Then the paper discusses in detail the current situation, problems and causes of direct financing in Inner Mongolia's capital market, and puts forward a strategic model to strengthen the construction of financing capacity on the basis of introducing and drawing lessons from the advanced experience of domestic and foreign capital markets. And under the guidance of this model, the corresponding comments and suggestions are put forward. This paper mainly discusses the positive significance of direct financing of capital market in promoting the development of regional economy and optimizing regional industrial organization by means of quantitative analysis. Through the comprehensive analysis of the direct financing situation of capital market in Inner Mongolia. In this paper, three problems are discussed, that is, they are not suitable for the economic development of the whole region, low compared with the indirect financing situation and insufficient compared with the national average level, and then the three main factors leading to the above problems are put forward. That is, the number of listed companies is small, the refinancing capacity of some listed companies is insufficient, and the scale of bond financing needs to be further expanded. The article summarizes and analyzes the advanced experiences and practices of the United States, Hong Kong, Beijing, Shanghai and other developed countries or regions. From it, three strategic models of strengthening financing capacity construction are summarized, that is, the formulation of development outline, the construction of multi-level equity market, and the development of bond market. This paper puts forward the countermeasures and suggestions to improve the financing ability of capital market in Inner Mongolia in order to better serve the development of local economy and society and realize the harmonious and win-win situation between capital market and regional economy.
【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】：F832.51

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