铁路客运专线项目融资柔性决策研究

发布时间：2018-05-07 13:01

本文选题：铁路客运专线 + 融资决策　；参考：《中南大学》2012年硕士论文

【摘要】：铁路工程是我国重要的基础设施项目,其建设与发展影响着国民经济的发展步伐。随着《中长期铁路网规划》的颁布,铁路客运专线建设正式进入了快速发展时期。然而由于铁路客运专线建设耗资巨大,传统的铁路投融资模式远远不能满足铁路客运专线的建设资金需求。因而,如何拓宽融资渠道,降低融资成本,优化融资结构,进行科学合理融资决策等一系列问题已经成为我国铁路发展的重大课题,也是实现我国铁路可持续发展的关键环节。在这样的背景下,本文首先对铁路客运专线融资问题的研究现状进行研究,定义了铁路客运专线融资决策的概念,总结了铁路客运专线融资的特点；其次,从权益融资及债务融资两方面,对铁路客运专线的融资方式及其适用性进行系统分析,并对不同融资方式的融资成本进行量化；再次,对铁路客运专线融资决策环境、融资风险进行深入研究,剖析融资过程中的不确定因素。在此基础上,文章从融资主体自由度、风险关联度、实施可行性、效果经济型以及后期管理方便性等五个方面,选取客运专线有限责任公司与金融机构的关系、公司规模、信息通达度、完工风险、制度风险等17个指标,构建铁路客运专线融资决策指标体系,将柔性决策理论融入融资决策方法,建立多目标柔性决策模型以对融资方案进行科学的选择。最后,结合SW客专案例,对决策模型进行模拟推演,验证模型的可行性、科学性和先进性。
[Abstract]:Railway project is an important infrastructure project in our country, and its construction and development affect the development of national economy. With the promulgation of medium and long-term Railway Network Planning, the construction of railway passenger dedicated line has entered a period of rapid development. However, because the construction of railway passenger dedicated line is expensive, the traditional mode of railway investment and financing is far from meeting the construction capital demand of railway passenger dedicated line. Therefore, how to broaden the financing channels, reduce the financing cost, optimize the financing structure, and make scientific and reasonable financing decisions have become a major issue of railway development in China, and also the key link to realize the sustainable development of railway in China. Under this background, this paper firstly studies the present situation of the financing problem of railway passenger dedicated line, defines the concept of financing decision of railway passenger dedicated line, and summarizes the characteristics of the financing of railway passenger dedicated line. From two aspects of equity financing and debt financing, this paper systematically analyzes the financing mode and applicability of railway passenger dedicated line, and quantifies the financing cost of different financing methods. Thirdly, the financing decision-making environment of railway passenger dedicated line is analyzed. The financing risk carries on the thorough research, dissects the uncertain factor in the financing process. On this basis, the paper selects the relationship between the limited liability company of passenger dedicated line and financial institutions, the scale of the company, from five aspects: the degree of freedom of financing subject, the degree of risk correlation, the feasibility of implementation, the economic effect and the convenience of later management. In this paper, 17 indexes, such as information accessibility, completion risk, system risk and so on, are set up to construct the index system of financing decision for railway passenger dedicated line, and the flexible decision theory is incorporated into the financing decision-making method. A multi-objective flexible decision model is established to select the financing scheme scientifically. Finally, the decision model is simulated and extrapolated to verify the feasibility, scientific and advanced nature of the model.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F532.3;U239.8

【参考文献】