LT公司融资困境及其对策研究

发布时间：2019-04-12 10:09

【摘要】：LT公司是一家以城市基础设施投资建设、高速公路投资及营运、城市污水处理和房地产开发为主要产业的民营企业。长久以来，公司一直受资金短缺的困扰，，尤其是近年来国家开始宏观政策调控，紧缩银根，公司对高速公路运营业务的投资又无法及时收回，这使得LT公司的建设及生产资金更为紧缺。通过对LT公司的分析发现，其所面临的融资困境主要体现为：公司融资以应急融资为主，融资成本较高；融资结构不合理，资产负债率居高不下；融资渠道狭窄以及公司在进行外部融资时，金融机构的支持力度不足等。通过运用定量与定性相结合的方法、系统分析法对LT公司财务因素与行业因素两个方面进行分析，发现造成LT公司融资困境的内外部因素主要是：LT公司融资缺乏一个长期的明确的规划，融资带有很强的偶然性；公司对内源融资的重视程度不足，偏向于外部融资；公司未在资本市场上累计起良好的信誉以及长久以来社会对民营企业的歧视等。借鉴国外民营企业的融资经验，今后LT公司在融资过程当中一定要遵循计划融资、理性融资，避免出现应急性融资，要遵循融资顺序，注重融资方式的创新，要始终将降低融资成本放在第一位，注重构建与金融机构的长效合作机制，同时还应深入挖掘内源融资、运用动产担保融资、发展融资租赁等以全面缓解LT公司所面临的融资困境。
[Abstract]:LT is a private enterprise with investment in urban infrastructure, highway investment and operation, urban sewage treatment and real estate development as the main industries. For a long time, the company has been plagued by the shortage of funds, especially in recent years, the state began macro-policy regulation and control, tightened the monetary policy, and the company's investment in highway operations could not be recovered in time. This makes LT's construction and production funds even more scarce. Through the analysis of LT, it is found that the financing dilemma is as follows: the financing of the company is mainly emergency financing, the financing cost is high, the financing structure is unreasonable, the ratio of assets and liabilities is high, the financing structure is not reasonable and the ratio of assets to liabilities is high. Narrow financing channels and the company in the external financing, financial institutions support is insufficient and so on. Through the combination of quantitative and qualitative methods, the system analysis method is used to analyze the two aspects of financial factors and industry factors of LT Company. It is found that the internal and external factors causing the financing predicament of LT company are: the lack of a long-term clear plan for financing of LT company, and the strong chance of financing; The company does not pay enough attention to endogenous financing and favors external financing, and the company has not accumulated good reputation in the capital market and long-standing social discrimination against private enterprises and so on. Drawing lessons from the financing experience of foreign private enterprises, in the future, LT companies must follow the plan financing, rational financing, avoid acute financing, follow the financing sequence, pay attention to the innovation of financing methods, in the future financing process must follow the plan financing, rational financing, avoid the emergence of acute financing, We should always put reducing financing costs first, pay attention to the construction of a long-term cooperative mechanism with financial institutions, at the same time, we should also dig deeper into endogenous financing and use movable property guarantee to finance, Development of financial leasing and so on in order to alleviate the financing difficulties faced by LT Company in an all-round way.
【学位授予单位】：长沙理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F276.5

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