H市城投公司财务风险分析和防范

发布时间：2018-06-10 13:15

本文选题：城投公司 + 财务风险　；参考：《南华大学》2015年硕士论文

【摘要】：城投公司源于1992年,在政府投融资体制改革的背景下,各地纷纷成立投融资平台公司代替政府进行基础设施建设。其中,城投公司是最典型也是最主要的投融资平台公司。2009年中央政府出台鼓励政策后,以城投公司为代表的投融资平台进入高速发展期。公司的资产和债务都爆发式发展,而管理水平、资产负债率、还债能力等缺陷凸显,不但财务风险剧增,还对地方财政和金融稳定造成了威胁。2010年起,中央政府开始对地方投融资平台进行清理和限制,政策倾向一直延续至今。本文选取财务风险为研究题材,深入分析这一广泛存在于大部分城投公司的迫切风险。本文以“提出问题、分析问题、解决问题”的研究思路,将定性研究和定量研究相结合,根据相关风险理论、财务风险理论、投融资平台相关研究,并结合实际数据,分析城投公司产生财务风险的原因与影响,并对此提出解决方案。第一部分“提出问题”主要阐述了城投公司的共同规律:包括产生原因、发展历程、当前存在的主要财务风险等。第二部分“分析问题”主要是对通过分析H市城投公司的财务环境和财务报表相关指标,判断H市城投公司财务风险大小,并对其财务风险进行分析。通过分析判断看出:H市城投公司短期内的财务风险并不严重。但从国家政策趋势来看,主营业务利润薄;资产流动性不强;负债规模大,偿债能力较差等几大隐患很可能变成现实风险。公司要实行政企分开、向市场化转型,必须对这几大财务隐患采取措施。第三部分“解决问题”是针对上部分列出的财务隐患,为公司提出针对性意见。主要包括:争取政府支持,获得合理补偿;开拓融资渠道,构建多元化融资体系,降低资产负债率;进行业务分类运作,推动业务多元化;增强市场化业务,提高资产质量,增强资产流动性。
[Abstract]:City Investment Corporation originated in 1992. Under the background of the reform of government investment and financing system, investment and financing platform companies were set up to carry out infrastructure construction instead of the government one after another. City Investment Corporation is the most typical and the most important investment and financing platform companies. After the central government introduced the encouragement policy in 2009, the investment and financing platform represented by the city investment and financing company entered the period of high-speed development. The company's assets and liabilities are exploding, and the deficiencies of management, asset liability ratio, ability to repay debt, and so on, not only increase the financial risk, but also pose a threat to the local financial and financial stability. The central government began to clean up and restrict local investment and financing platforms, and the policy trend has continued to this day. In this paper, financial risk is chosen as the research subject, and the urgent risk is analyzed deeply. In this paper, we combine qualitative and quantitative research with the idea of "problem raising, problem analysis, problem solving", according to the relevant risk theory, financial risk theory, investment and financing platform, and combining with the actual data. This paper analyzes the causes and effects of the financial risk of CICC, and puts forward solutions to this problem. The first part mainly expounds the common law of CICC, including the causes, the development course, the main financial risks and so on. The second part, "Analysis problems", mainly analyzes the financial environment and financial statement indexes of H City Investment Corporation, judges the financial risk of H City Investment Company, and analyzes its financial risk. Through the analysis and judgment, we can see that the short-term financial risk is not serious. But from the national policy trend, the main business profit is thin; the assets liquidity is not strong; the scale of debt is large, the debt ability is poor and so on several big hidden dangers are likely to become the real risk. Companies to implement the separation of government and enterprises, to the market-oriented transformation, must take measures to these major financial risks. The third part "problem solving" is aimed at the financial hidden trouble listed in the above part, and puts forward targeted opinions for the company. It mainly includes: winning government support, obtaining reasonable compensation; opening up financing channels, constructing diversified financing system, reducing asset-liability ratio; carrying out business classification operation to promote business diversification; strengthening market-oriented business and improving asset quality. Enhance liquidity of assets.
【学位授予单位】：南华大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F299.24;F275

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