森海园林公司私募股权融资研究

发布时间：2018-06-24 09:11

本文选题：私募股权融资 + 中小企业　；参考：《吉林大学》2014年硕士论文

【摘要】：随着改革开放的不断推进，我国社会经济得到了高度发展，但对自然资源过度利用的同时，也打破了生态环境的平衡，因此，党和国家日益关注生态环境问题。党的十八大报告中提出，要大力推进生态文明建设，建设生态文明，是关系人民福祉、关乎民族未来的长远大计。我国园林绿化企业随着经济社会的发展应运而生，日益发展。然而我国市场化的园林企业起步晚，多数处于发展阶段，且其行业具有自身的特殊性，需要巨大的前期投入，生产周期较长，因而资金成为中小型企业发展过程中最突出的问题。当前中小企业融资难，，银行贷款无法满足中小企业发展,而公开证券市场融资对于中小企业而言门槛过高,在众多融资模式中，私募股权融资逐渐成为众多中小企业融资的重要选择。私募股权（Private Equity简称“PE”）融资，是指通过私募形式对非上市企业进行权益性投资的一种融资方式。经过在欧美国家几十年的不断发展和完善,架构起欧美国家多层次资本市场的关键层次，现已成为推动欧美中小企业稳步前进的重要资本力量。私募股权具有低财务成本、高附加值、资金来源稳定、非公开性等诸多优点，有力填补了银行信贷与证券市场间的空缺，有助于企业获取所需资金，改善公司治理结构和管理水平，维持企业稳定持续发展，有助于促进公司快速上市，已经成为扶植成长型中小企业的一种重要融资方式。在最近十几年中，中国的私募股权市场经历了快速发展的时期，私募股权投资总量逐步得到扩大，具有良好的发展态势。但是由于我国私募股权投资发展历史比较短，总量仍然比较小，缺乏完善、科学的法律规章制度，资本运作过程不成熟、不规范，因此中小企业在私募股权融资中依然面临诸多问题与障碍，譬如运作过程风险多元、募集对象不清晰不明确、当前政策制度的制约等。尤其在成立基金、建立专业基金管理团队、募集资金、评估并选择投资项目、管理并运营基金、退出获利这一系列的程序运作上，依旧还存在很多亟待解决的问题，这在一定程度上阻碍了我国私募股权融资的进一步发展。本文通过通过大量查阅文献、深入公司调查获得资料等方法，围绕私募股权融资的发展现状以及私募股权融资对中小企业的影响等问题，以森海园林公司为例，具体分析中小企业在私募股权融资中存在的问题、问题成因以及相关具体解决对策，力求探索私募股权融资路径走向科学化、专项化及常态化的管理方法，提高私募股权融资过程中操作效率和防范潜在风险，来为中小企业在今后私募股权融资操作提供借鉴。
[Abstract]:With the continuous development of reform and opening up, the social economy of our country has been highly developed, but the over-utilization of natural resources has also broken the balance of ecological environment. Therefore, the Party and the country are paying more and more attention to the ecological environment problem. In the report of the 18th National Congress of the CPC, it was pointed out that it is a long-term plan related to the well-being of the people and the future of the nation to vigorously promote the construction of ecological civilization and to build ecological civilization. With the development of economy and society, garden greening enterprises in our country emerge as the times require and develop day by day. However, the market-oriented garden enterprises in our country start late, most of them are in the stage of development, and their industries have their own particularities, which require huge pre-investment, and the production cycle is longer. As a result, capital has become the most prominent problem in the development of small and medium enterprises. At present, the financing of SMEs is difficult, and bank loans can not meet the development of SMEs. However, the threshold of open securities market financing for SMEs is too high. In many financing modes, Private equity financing has gradually become an important choice for many small and medium-sized enterprises. Private Equity (PE) financing is a kind of financing method for equity investment of non-listed enterprises through private equity. After decades of continuous development and improvement in Europe and the United States, the key level of the multi-level capital market in Europe and the United States has become an important capital force to promote the steady progress of small and medium-sized enterprises in Europe and the United States. Private equity has many advantages, such as low financial cost, high added value, stable source of funds, non-openness and so on. It can fill the gap between bank credit and securities market and help enterprises to obtain the necessary funds. To improve the corporate governance structure and management level, to maintain the stable and sustainable development of enterprises, to help promote the rapid listing of companies, has become an important financing way to foster the growth of small and medium-sized enterprises. In the last ten years, China's private equity market has experienced a period of rapid development, the total amount of private equity investment has been gradually expanded, with a good development trend. However, due to the relatively short history of private equity investment in our country, the total amount is still relatively small, lacking of perfection, scientific laws and regulations, and the process of capital operation is not mature and standard. Therefore, SMEs still face many problems and obstacles in private equity financing, such as the multiple risks in the process of operation, the unclear target of raising, the restriction of current policy system and so on. Especially in the establishment of funds, the establishment of professional fund management teams, the raising of funds, the evaluation and selection of investment projects, the management and operation of funds, and the operation of the procedures of withdrawing profits, there are still many problems to be solved. To some extent, this hinders the further development of private equity financing in China. In this paper, through a large number of literature, in-depth investigation of the company to obtain information and other methods around the development of private equity financing and the impact of private equity financing on small and medium-sized enterprises and other issues, taking Senhai Garden Company as an example, This paper analyzes the problems, causes of the problems in the private equity financing of small and medium-sized enterprises, as well as the relevant specific solutions, and tries to explore the scientific, specialized and regular management methods of the private equity financing path. Improve the efficiency of private equity financing process and guard against potential risks, to provide reference for SMEs in the future private equity financing operations.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51

【参考文献】