本文選題：A公司　切入點(diǎn)：資本結(jié)構(gòu)　出處：《南昌大學(xué)》2013年碩士論文

【摘要】：“十一五”以來,我國(guó)提出“節(jié)能和新能源汽車”戰(zhàn)略,政府高度關(guān)注新能源汽車的研發(fā)和產(chǎn)業(yè)化。在國(guó)家政策的倡導(dǎo)與支持下,我國(guó)各地有關(guān)節(jié)能與新能源車的產(chǎn)品研發(fā)及示范推廣可謂風(fēng)起云涌。在能源和環(huán)保的壓力下,新能源汽車無疑將成為未來汽車的發(fā)展方向。新能源汽車行業(yè)是屬于七大戰(zhàn)略型新興產(chǎn)業(yè)之一。中國(guó)經(jīng)濟(jì)要戰(zhàn)勝金融危機(jī)帶來的影響,真正走出困境,必須依賴于新興產(chǎn)業(yè)崛起。加快培育和發(fā)展新興產(chǎn)業(yè)公司是打造未來經(jīng)濟(jì)新增長(zhǎng)點(diǎn)、轉(zhuǎn)變經(jīng)濟(jì)增長(zhǎng)方式的戰(zhàn)略選擇。A公司作為新能源汽車行業(yè)里的代表性企業(yè),公司主要經(jīng)濟(jì)指標(biāo)連續(xù)十余年快速增長(zhǎng),連續(xù)十余年獲得中國(guó)工商銀行AAA級(jí)信用等級(jí)。因此以A公司為研究對(duì)象,研究其資本結(jié)構(gòu),實(shí)現(xiàn)其資本結(jié)構(gòu)最優(yōu)化對(duì)改進(jìn)該類企業(yè)治理結(jié)構(gòu)、增強(qiáng)企業(yè)核心競(jìng)爭(zhēng)力,進(jìn)而提升公司價(jià)值、促進(jìn)新能源汽車大力發(fā)展,促進(jìn)中國(guó)經(jīng)濟(jì)又好又快增長(zhǎng)具有十分重要的意義。 在系統(tǒng)回顧了資本結(jié)構(gòu)理論,梳理相關(guān)研究文獻(xiàn)的基礎(chǔ)上,以汽車行業(yè)基本面、A公司及同行業(yè)3家上市公司2010-2012年公開的財(cái)務(wù)報(bào)表為研究資料,分析了A公司的經(jīng)營(yíng)業(yè)務(wù)、行業(yè)地位等,詳細(xì)分析了A公司的資本結(jié)構(gòu)現(xiàn)狀,重點(diǎn)分析了A公司財(cái)務(wù)狀況、資本構(gòu)成狀況、債務(wù)情況、股本結(jié)構(gòu)、治理結(jié)構(gòu)和資本運(yùn)營(yíng)狀況,深入研究了A公司資本結(jié)構(gòu)形成過程,探討了A公司資本結(jié)構(gòu)形成的內(nèi)外部原因,從資產(chǎn)負(fù)債率、產(chǎn)權(quán)比率、負(fù)債結(jié)構(gòu)和股本結(jié)構(gòu)、盈利能力等方面與同行業(yè)上市公司對(duì)比分析了A公司資本結(jié)構(gòu)的影響因素,得出了A公司資本結(jié)構(gòu)方面存在資產(chǎn)負(fù)債率偏低,未充分發(fā)揮公司應(yīng)有的財(cái)務(wù)杠桿效益；企業(yè)籌資能力低,影響企業(yè)盈利水平；融資方式單一；企業(yè)存在潛在的經(jīng)營(yíng)風(fēng)險(xiǎn)等問題。最后,根據(jù)A公司自身情況,提出了穩(wěn)定資產(chǎn)負(fù)債率、整合債務(wù)結(jié)構(gòu)、提高盈利能力和利用多元化金融工具等方面的對(duì)策。
[Abstract]:Since the 11th Five-Year Plan, China has put forward the strategy of "energy-saving and new energy vehicles". The government pays great attention to the research and development and industrialization of new energy vehicles. The product development and demonstration promotion of energy-saving and new energy vehicles in various parts of China can be described as surging. Under the pressure of energy and environmental protection, There is no doubt that new energy vehicles will become the direction of future automobile development. The new energy automobile industry is one of the seven major strategic emerging industries. China's economy must overcome the impact of the financial crisis and really get out of the predicament. We must rely on the rise of new industries. To speed up the cultivation and development of new industrial companies is a strategic choice for building new economic growth points in the future and changing the mode of economic growth. A company is the representative enterprise in the new energy automobile industry. The company's main economic indicators have grown rapidly for more than 10 consecutive years, and for more than 10 consecutive years it has gained the AAA credit rating of the Industrial and Commercial Bank of China.Therefore, taking Company A as the research object, the capital structure of the company has been studied. The optimization of its capital structure is of great significance to the improvement of the corporate governance structure, the enhancement of the core competitiveness of the enterprises, the promotion of corporate value, the vigorous development of new energy vehicles, and the sound and rapid growth of China's economy. On the basis of reviewing the theory of capital structure systematically and combing the relevant research literature, this paper analyzes the operating business of company A based on the financial statements of company A and three listed companies in the same industry from 2010 to 2012. The status of company A is analyzed in detail, with emphasis on its financial status, capital composition, debt, equity structure, governance structure and capital operation. In this paper, the formation process of capital structure of company A is deeply studied, and the internal and external reasons for the formation of capital structure of company A are discussed, including asset-liability ratio, property ratio, debt structure and equity structure. Compared with the listed companies of the same industry, the paper analyzes the influencing factors of the capital structure of company A, and draws the conclusion that the capital structure of company A has a low ratio of assets and liabilities, which does not give full play to the financial leverage benefit that the company should have; The low financing ability of the enterprise affects the profit level of the enterprise; the financing method is single; the enterprise has the potential operation risk and so on. Finally, according to the situation of company A, it proposes to stabilize the asset-liability ratio and to integrate the debt structure. Improve profitability and use diversified financial instruments and other aspects of countermeasures.
【學(xué)位授予單位】：南昌大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F426.471

【引證文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前1條

1 黃雅玲;我國(guó)上市公司股權(quán)結(jié)構(gòu)對(duì)資本結(jié)構(gòu)影響的實(shí)證研究[D];江西師范大學(xué);2015年

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本文編號(hào)：1681572