XX集团投资策略研究

发布时间：2018-08-18 21:18

【摘要】：伴随着世界经济发展的一体化和科学技术的发展,我国对环境保护的重视程度越来越高,特别是水环境的治理与保护,各种政策的支持使得水务行业处于蓬勃发展阶段。高速的发展速度,必然会导致水务行业的企业都或多或少面临着国内国外各方面的竞争和各种不确定因素的干扰,日益激烈的竞争环境和复杂繁多的不确定因素使得企业会更加关注企业的自我投资和对外投资,以期做到企业的进一步发展。同时随着融资、建设管理等模式创新,相关产业的发展水平持续提升,污水处理企业投资策略的改革也随之成为未来发展的重点。本课题从XX集团(某国有污水处理企业)投资面临的各类问题为切入点展开研究,研究的主要内容包含以下四个主要方面:(1)理论研究。针对投资相关的理论进行介绍,并对投资方式、投资决策等相关概念来展开说明。(2)现状研究。从XX集团的基本概述出发,对其经营状况以及投资现状展开说明,为下文的策略分析提供依据。(3)XX集团投资风险因素以及收益研究。对XX集团投资面临的内外部因素进行风险分析,并对其投资的收益进一步进行分析,同时明确该企业当前投资存在的问题,及投资存在盲目性,缺乏系统的投资策略且大量资金闲置(4)优化策略分析。针对XX集团经营以及投资时面临的风险和当前企业经营以及投资过程中存在的问题,对XX集团的投资策略进行分析。从就投资方式来说,XX集团可以通过直接投资为主、间接投资为辅的投资策略进行投资,这样XX集团不仅进行了收益较高且风险较小的主营业务方面的直接投资,同时对于闲置的资金通过开拓间接投资的方式进行了盘活;从长短期投资的方面来说,XX集团可以施行长短结合的策略,一方面对主营业务的长期投资使得未来的投资变现和现金流入是稳定的,且收益水平能维持在6%以上。另一方面剩余资金的短期投资保证了XX集团安稳处理日常运营过程中突然事件的能力,并对闲置资金进行了盘活;从风险管理角度来说,XX集团可以通过马柯维茨的资产组合理论,对投资风险进行分散,承担合适的风险并享受相应的收益。同时由于XX集团是水务行业具有代表性的大型国有污水处理企业,其面临的问题,以及其投资策略的分析,对其他资金雄厚的国有水务企业也具有一定的指导意义。
[Abstract]:With the integration of the world economy and the development of science and technology, our country pays more and more attention to the environmental protection, especially the treatment and protection of the water environment. The high speed of development will inevitably lead to the water industry enterprises more or less facing the domestic and foreign competition and the interference of various uncertain factors. The increasingly fierce competition environment and complicated and varied uncertain factors make enterprises pay more attention to their self-investment and outward investment in order to achieve the further development of enterprises. At the same time, with the innovation of financing and construction management, the development level of related industries continues to improve, and the reform of investment strategy of sewage treatment enterprises becomes the focus of future development. This paper starts with the investment problems faced by XX Group (a state-owned sewage treatment enterprise). The main contents of the research include the following four main aspects: (1) theoretical research. The related theories of investment are introduced, and the related concepts such as investment mode and investment decision are explained. (2) the present situation is studied. Starting from the basic overview of XX Group, this paper explains its operating status and investment status, and provides the basis for the following strategic analysis. (3) XX Group Investment risk factors and income Research. This paper makes a risk analysis on the internal and external factors facing the investment of XX Group, and further analyzes the income of its investment. At the same time, it makes clear the problems existing in the current investment of the enterprise and the blindness of the investment. Lack of systematic investment strategy and a large number of idle funds (4) optimization strategy analysis. In view of the risks faced by XX Group in its operation and investment, and the problems existing in the current enterprise management and investment process, the investment strategy of XX Group is analyzed. As far as the investment mode is concerned, the XX Group can invest through a strategy of direct investment, supplemented by indirect investment, so that XX Group not only makes direct investment in the main business with higher returns but also less risk. At the same time, the idle funds have been revitalized through the development of indirect investment; in terms of long-term and short-term investment, the XX Group can implement a combination of long and short strategy. On the one hand, the long-term investment in the main business makes the future investment liquidity and cash inflow stable, and the income level can be maintained at more than 6%. On the other hand, the short-term investment of the surplus funds ensures the ability of XX Group to handle the sudden events in the daily operation process, and the idle funds are invigorated. From the point of view of risk management, the group can spread out the investment risk, bear the appropriate risk and enjoy the corresponding income through Markowitz's portfolio theory. At the same time, because XX group is a representative large state-owned sewage treatment enterprise in water industry, the problems it faces and the analysis of its investment strategy also have certain guiding significance for other state-owned water enterprises with abundant funds.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;X324

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