H企业投融资方案研究

发布时间：2018-04-19 08:16

本文选题：投资方案评估 + 融资设计　；参考：《中南大学》2014年硕士论文

【摘要】：本文以资本结构理论、生产周期理论、投资决策理论为理论基础,通过案例研究法、文献分析法、数据分析、理论和实践相结合等分析方法,对通信行业小型科技创新企业H企业的投融资问题进行了研究,并对企业近期的投融资活动进行了分析和设计。本文,首先,通过对H企业财务报表和实际经营情况的分析,认为H企业目前存在着资金需求量大与债务风险过高、债务融资难的困难,存在着投资评估和风险控制不足的问题,在未来的发展中,要加强投资预测和融资管理。之后,针对企业拟投资的智能交换机生产项目按照融资方式、期初投入量的不同设定了两套投资决策待选方案。方案一是假设引进战略投资者、期初投入大；方案二假设银行贷款、期初投入小。并通过对累计净现值、投资回收期等主要决策指标、敏感性分析等风险指标的计算,认为方案一的经济效益要优于方案二,但风险度稍大于方案二。建议采用方案一,引进战略投资者,加大期初投入,同时加强风险监控。之后,结合企业经营状况和项目投资决策方案,设计了H企业的融资方案,在引入战略投资者的同时进行银行短期贷款。通过对新融资方案的成本效益分析、结构分析、风险分析,认为该方案具有可行性,能解决企业资金不足的困境,优化企业的资本结构,降低企业债务风险,降低综合融资成本。最后,就企业投资方案和融资方案资金的对接进行了探讨和安排,并对每阶段的资金使用成本进行了分析,并对H企业投融资方案的实施进行了探讨和安排,提出了方案实施的组织机构、流程、控制机制和考评机制。
[Abstract]:Based on the theory of capital structure theory, production cycle theory and investment decision theory, this paper uses case study, literature analysis, data analysis, combination of theory and practice, and so on.This paper studies the investment and financing problems of H enterprise, a small scientific and technological innovation enterprise in communication industry, and analyzes and designs the recent investment and financing activities of the enterprise.First of all, through the analysis of the financial statements and the actual operating situation of H enterprise, it is concluded that H enterprise has the difficulties of large capital demand, high debt risk and difficulty in debt financing.There are some problems in investment evaluation and risk control. In the future, investment forecasting and financing management should be strengthened.Then, according to the financing mode, two sets of investment decision options are set up according to the financing mode of the intelligent switch production project to be invested by the enterprise.The first scenario is to assume the introduction of strategic investors, the beginning of the investment is large; the second scenario assumes bank loans, the beginning of investment is small.Through the calculation of the accumulated net present value (NPV), investment payback period, sensitivity analysis and other risk indicators, it is concluded that the economic benefit of the first scheme is better than that of the second scheme, but the risk degree is slightly larger than that of the second scheme.The first proposal is to introduce strategic investors, increase investment at the beginning of the period, and strengthen risk monitoring at the same time.After that, combining the enterprise management situation and the project investment decision plan, designs the H enterprise financing plan, carries on the bank short-term loan while introducing the strategic investor.Through the cost-benefit analysis, structural analysis and risk analysis of the new financing scheme, it is considered that the scheme is feasible, which can solve the dilemma of the shortage of enterprise funds, optimize the capital structure of the enterprise, and reduce the debt risk of the enterprise.Reduce the cost of comprehensive financing.Finally, the paper discusses and arranges the docking of the enterprise investment scheme and the financing scheme, and analyzes the cost of using the funds in each stage, and discusses and arranges the implementation of the H enterprise investment and financing scheme.The organization, process, control mechanism and evaluation mechanism of the program implementation are put forward.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F426.6

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