北京指南针有限公司在新三板市场融资效果研究

发布时间：2018-02-28 10:13

本文关键词： 资本市场新三板市场融资效果　出处：《河北大学》2017年硕士论文　论文类型：学位论文

【摘要】：中小企业在国民经济的发展中占着重要地位。随着我国经济发展方式的转变,由原来一味追求高速度、快节奏的经济增长,到现如今更加注重经济平稳运行和产业转型升级。我国经济要做到平稳良好运行的一个大的前提是中小企业的健康发展,因为现在中小企业数量已经达到企业总数的90%。为了保证我国经济发展和增长的稳定性,我们要保证中小企业良好的发展机会。正因为如此中小企业的发展面临着机遇与要求并存。中小企要生存与发展首先要越过的第一条障碍就是融资问题,解决好融资问题就把握住中小企业发展的命脉和关键。新三板市场作为多层次资本市场结构中的基础市场,被赋予了以新三板挂牌企业为代表的非上市公众公司股权融资、债权融资等多项权利。许多中小企业在新三板上融到企业发展和生存所需要的资金。新三板成立以来成为中小企业融资提供了广阔的平台和渠道。新三板市场正在逐步完善和提升,挂牌新三板公司数量近几年成井喷式增长,融资效果也是与日俱增。首先本文回顾了中小企融资困难和中小企业融资效果评价的国内外相关研究,并对其进行了评述。其次介绍了资本市场、融资效果等相关概念和融资基础性理论,为下文案例公司分析做理论基础。再次介绍北京指南针科技发展股份有限公司所处的背景包括宏观背景新三板市场融资的现状和微观背景指南针公司的基本情况。紧接着详细描述指南针公司在新三板的融资发展历程。接下来系统分析了指南针公司在新三板的融资效果,分为直接效果和间接效果两个方面,直接效果包括融资规模、资产规模和内部治理完善情况,间接效果包括资本结构、成长能力、盈利能力和转板概况,由以上指标全面的对指南针公司在新三板的融资效果进行了分析,得出在新三板挂牌后,企业整体价值的上升。最后新三板市场正处在成长期,因此针对指南针公司在新三板融资过程中存在的问题并提出一些改进建议。
[Abstract]:Small and medium-sized enterprises (SMEs) play an important role in the development of the national economy. With the transformation of the mode of economic development in our country, we have been blindly pursuing high-speed and fast-paced economic growth. Nowadays, more attention has been paid to the smooth operation of the economy and the upgrading of industries. The healthy development of small and medium-sized enterprises is a major prerequisite for the smooth and good operation of China's economy. Because the number of small and medium-sized enterprises has now reached 90% of the total number of enterprises. In order to ensure the stability of China's economic development and growth, We want to ensure good development opportunities for small and medium-sized enterprises. Precisely because of this, small and medium-sized enterprises are faced with both opportunities and requirements. The first obstacle that SMEs have to overcome in order to survive and develop is the financing problem. To solve the financing problem, we must grasp the lifeblood and key of the development of small and medium-sized enterprises. As the basic market in the multi-level capital market structure, the new third-board market has been endowed with equity financing of unlisted public companies represented by the new third-board listed enterprises. Debt financing and many other rights. Many small and medium-sized enterprises in the new third board to finance the development and survival of enterprises need funds. The new third board has become a wide platform and channels for SME financing. The new third board market is now. In the gradual improvement and promotion, In recent years, the number of new three board companies has been blowout growth, and the financing effect is also increasing. Firstly, this paper reviews the domestic and foreign research on financing difficulties of SMEs and the evaluation of financing effects of SMEs. Secondly, it introduces the related concepts of capital market, financing effect and the basic theory of financing. Again introduce the background of Beijing compass science and technology development co., Ltd., including the macro background of the new third board market financing status and micro background compass company. ... Then describe in detail the financing development course of Compass in the new third board. Then, the financing effect of compass company in the new third board is analyzed systematically. The direct effects include the scale of financing, the scale of assets and the improvement of internal governance. The indirect effects include the capital structure, growth ability, profitability and the general situation of turnaround. By analyzing the financing effect of Compass Company in the new third board, it is concluded that after the listing of the new third board, the overall value of the enterprise will rise. Finally, the new third board market is in the growing period. In view of the problems existing in the new third board financing process of Compass, some suggestions for improvement are put forward.
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F49;F275;F832.51

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