企业权益性筹资风险管理研究
发布时间：2019-02-08 17:19
【摘要】：长期以来,受传统财务理论的影响,很多学者更倾向于将企业筹资风险理解为“是由于负债筹资而给企业财务状况带来的不确定性”,导致很多企业在筹资时,把注意力全放在债权性筹资风险上,而完全忽视了权益性筹资风险的存在。事实上,自从我国加入世贸组织以后,企业为谋求多元化发展,越来越多的企业偏好于权益性筹资,权益性筹资风险对企业财务状况的影响也日趋明显,所以科学地进行权益性筹资风险的管理,是企业亟待解决的重要课题。本文从我国企业权益性筹资现状出发,结合国内外学者的观点,对权益性筹资风险管理中的权益性筹资、筹资风险以及风险管理的相关理论进行深入的阐释,分析出导致企业权益性筹资风险产生的内外因素,并对其内外因素进行了科学的、全面的成因分析,进而利用因子分析法建立风险评估模型去评估企业的权益性筹资风险。在这过程中,特选取8种不同行业兼具代表性的企业对权益性筹资风险评估模型进行验证,证实权益性筹资风险评估模型的实用性。最后从权益性筹资风险的防范技术、防范制度和管理人员的综合素质方面提出了有效地防控企业权益性筹资风险的措施,为企业有效的、合理的规避权益性筹资风险提供了较为科学的依据。本文主要是从企业权益性筹资风险的识别、评估与防控三方面入手,对企业权益性筹资风险管理进行了深入的研究,试图弥补传统筹资风险理论和权益性筹资风险评估方法的缺陷,为企业有效地进行权益性筹资风险的科学管理提供了理论依据和实践基础。
[Abstract]:For a long time, under the influence of the traditional financial theory, many scholars tend to interpret the enterprise financing risk as "the uncertainty of the enterprise's financial situation caused by the debt financing", which leads to many enterprises raising funds. Attention is paid to the risk of debt financing, but the existence of equity financing risk is completely ignored. In fact, since China's accession to the WTO, more and more enterprises have preferred equity financing in order to seek diversified development, and the impact of equity financing risks on the financial situation of enterprises has become increasingly obvious. Therefore, scientific management of equity-raising risk is an important subject to be solved urgently. Based on the current situation of enterprise equity financing in China and the views of domestic and foreign scholars, this paper gives a deep explanation of equity financing, financing risk and related theories of risk management in equity financing risk management. This paper analyzes the internal and external factors that lead to the enterprise equity financing risk, and makes a scientific and comprehensive analysis of the causes of the internal and external factors, and then establishes a risk assessment model by factor analysis to evaluate the equity financing risk of the enterprise. In this process, eight representative enterprises in different industries are selected to validate the equity financing risk assessment model to verify the practicability of equity financing risk assessment model. Finally, the paper puts forward some effective measures to prevent and control the equity financing risk of enterprises from the aspects of prevention technology, prevention system and comprehensive quality of managers, which are effective for enterprises. Reasonable evasion of equity financing risk provides a more scientific basis. This paper mainly starts with the identification, evaluation and prevention and control of the enterprise equity financing risk, and makes a deep research on the enterprise equity financing risk management. This paper attempts to remedy the defects of the traditional theory of financing risk and the evaluation method of equity financing risk, which provides a theoretical basis and a practical basis for the scientific management of equity financing risk.
【学位授予单位】：黑龙江八一农垦大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F279.2;F275
本文编号：2418612
[Abstract]:For a long time, under the influence of the traditional financial theory, many scholars tend to interpret the enterprise financing risk as "the uncertainty of the enterprise's financial situation caused by the debt financing", which leads to many enterprises raising funds. Attention is paid to the risk of debt financing, but the existence of equity financing risk is completely ignored. In fact, since China's accession to the WTO, more and more enterprises have preferred equity financing in order to seek diversified development, and the impact of equity financing risks on the financial situation of enterprises has become increasingly obvious. Therefore, scientific management of equity-raising risk is an important subject to be solved urgently. Based on the current situation of enterprise equity financing in China and the views of domestic and foreign scholars, this paper gives a deep explanation of equity financing, financing risk and related theories of risk management in equity financing risk management. This paper analyzes the internal and external factors that lead to the enterprise equity financing risk, and makes a scientific and comprehensive analysis of the causes of the internal and external factors, and then establishes a risk assessment model by factor analysis to evaluate the equity financing risk of the enterprise. In this process, eight representative enterprises in different industries are selected to validate the equity financing risk assessment model to verify the practicability of equity financing risk assessment model. Finally, the paper puts forward some effective measures to prevent and control the equity financing risk of enterprises from the aspects of prevention technology, prevention system and comprehensive quality of managers, which are effective for enterprises. Reasonable evasion of equity financing risk provides a more scientific basis. This paper mainly starts with the identification, evaluation and prevention and control of the enterprise equity financing risk, and makes a deep research on the enterprise equity financing risk management. This paper attempts to remedy the defects of the traditional theory of financing risk and the evaluation method of equity financing risk, which provides a theoretical basis and a practical basis for the scientific management of equity financing risk.
【学位授予单位】：黑龙江八一农垦大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F279.2;F275
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