A公司区域性股权交易融资问题研究

发布时间：2018-05-25 01:09

本文选题：中小企业融资 + 区域性股权交易中心　；参考：《江西财经大学》2017年硕士论文

【摘要】：目前中国经济处于经济增速换挡期,正在进入“新常态”时期。在国内经济下行的大环境下,中小企业在推动经济走出低谜,在实现区域经济崛起、解决就业、经济结构调整和经济转型中扮演着不可忽视的角色,然而中小企业在金融市场所获得的融资服务地位与在经济社会中所起的作用是严重不对等的。2014年5月8号《国务院关于进一步促进资本市场健康发展的若干意见》(新国九条)出台,将区域股权市场纳入到多层次市场体系建设当中,拓宽中小企业融资渠道。区域性股权交易市场是多层次资本市场的组成部分,大力发展区域性股权交易市场对于中小企业融资、健全我国多层次资本市场体系具有重要意义。本文采用案例分析的方式,通过对案例企业A公司在区域性股权交易中心融资产生的问题进行分析和研究,并针对中小企业区域性股权交易市场融资提出相关意见建议。论文分为五个部分,第一章绪论部分包括背景及意义、文献综述、思路和框架以及研究的创新点和不足。第二章案例介绍包括A公司基本情况和财务情况介绍、前海股权交易中心介绍以及整个融资过程以及融资效果。第三章是论文的重点,是对A公司在区域性股权交易融资存在的问题及产生问题的原因进行分析。企业自身问题包括A公司自身的劣势,融资成本、融资风险两高,融资渠道单一、自身资金匮乏,小企业规模导致抵押担保难度大。区域性股权交易中心问题包括区域性股权交易中心跨区经营较为困难,限制了投资者的数量和资金规模。企业、投资者、证券公司对区域性股权交易市场的参与程度都不高。区域性股权交易中心的融资能力和培育服务能力还需进一步提升。产生这些问题的原因在于法律地位不明确、监管体系不健全,新三板的冲击以及区域性股权交易中心的内部原因。第四章主要是针对上述问题以及产生问题的原因,提出相关对策和建议。第五章结论部分是对整个文章的总结和概括,区域性股权交易市场的主要功能和作用表现在:一是培育和规范中小企业的园地;二是中小企业的融资中心;三是地方政府扶持中小企业各种政策和资金综合运用的平台;四是资本市场中介服务功能的延伸。对中小企业在区域性股权交易融资问题进行研究,使得我国中小企业在区域性股权交易市场的融资能够有更多的参考,这对于我国区域性股权交易市场的健康稳定发展,也具有一定的指导意义。
[Abstract]:At present, China's economy is in the shift period of economic growth, is entering the "new normal" period. In the environment of domestic economic downturn, small and medium-sized enterprises play an important role in driving the economy out of the low riddle, realizing the rise of regional economy, solving employment, adjusting the economic structure and transforming the economy. However, the status of financing services obtained by SMEs in the financial market is seriously unequal to the role they play in the economy and society. Views of the State Council on further promoting the healthy Development of the Capital Market on May 8, 2014 (nine articles of New China), Regional equity market will be incorporated into the multi-level market system construction to broaden the financing channels for small and medium-sized enterprises. Regional equity trading market is an integral part of multi-level capital market. It is of great significance to develop regional equity trading market for small and medium-sized enterprises to raise funds and perfect our country's multi-level capital market system. This paper adopts the method of case analysis to analyze and study the problems arising from the financing of A company in the regional equity trading center, and puts forward some suggestions for the financing of the regional equity trading market of small and medium-sized enterprises. The first chapter includes background and significance, literature review, ideas and framework, innovative points and shortcomings of the research. The second chapter includes A company's basic situation and financial situation, Qianhai equity trading center, the whole financing process and financing effect. The third chapter is the focus of the paper, it analyzes the problems and causes of the financing of A company in the regional equity trading. The enterprise's own problems include the inferiority of company A, the financing cost, the financing risk, the single financing channel, the lack of its own funds, and the difficulty of mortgage guarantee caused by the scale of small enterprise. Regional equity trading centers, including regional equity trading centers, are more difficult to operate across regions, limiting the number of investors and the size of funds. The participation of enterprises, investors and securities companies in the regional stock market is not high. The financing ability of regional equity trading center and cultivating service ability need to be further improved. The causes of these problems lie in the unclear legal status, the imperfect regulatory system, the impact of the new third board and the internal reasons of the regional equity trading center. The fourth chapter is the above-mentioned problems and the causes of the problems, put forward the relevant countermeasures and suggestions. The conclusion of the fifth chapter is the summary and summary of the whole article. The main functions and functions of the regional equity trading market are as follows: first, cultivating and standardizing the garden of small and medium-sized enterprises, second, the financing center of small and medium-sized enterprises; The third is the platform for local government to support various policies and comprehensive use of funds for small and medium-sized enterprises, and the fourth is the extension of intermediary service function in capital market. The research on the financing problem of small and medium-sized enterprises in regional equity trading makes the financing of small and medium-sized enterprises in the regional equity trading market more referential, which is beneficial to the healthy and stable development of the regional equity trading market in China. Also has certain guidance significance.
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51

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