本文關(guān)鍵詞：我國(guó)中小企業(yè)私募債券研究　出處：《中央民族大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

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【摘要】：我國(guó)中小企業(yè)大多數(shù)屬于民營(yíng)性質(zhì),相對(duì)于國(guó)有大中型企業(yè),在經(jīng)營(yíng)規(guī)模、抵抗市場(chǎng)風(fēng)險(xiǎn)和融資能力上都屬于“弱勢(shì)群體”。中小企業(yè)融資難是探討已久的話題。2012年5月,深滬交易所分別發(fā)布了《中小企業(yè)私募債券業(yè)務(wù)試點(diǎn)辦法》,啟動(dòng)了中小企業(yè)私募債業(yè)務(wù)試點(diǎn),為我國(guó)中小企業(yè)提供了一條新的融資渠道,并受到資本市場(chǎng)的歡迎。筆者恰好是債券市場(chǎng)工作的一線人員,自從該制度設(shè)立以來(lái)便一直從事中小企業(yè)私募債的發(fā)行承銷工作,對(duì)該制度的運(yùn)行有著較為直觀和深入的了解。切身感受到截至目前這一融資模式還不為眾多中小企業(yè)所認(rèn)知,對(duì)其制度規(guī)定與實(shí)際發(fā)債融資過(guò)程中存在的問(wèn)題以及如何解決也不知曉；同時(shí),通過(guò)檢索相關(guān)學(xué)術(shù)文獻(xiàn)發(fā)現(xiàn),關(guān)于中小企業(yè)私募債的學(xué)術(shù)研究也比較少,關(guān)于制度構(gòu)建與完善尚缺乏相應(yīng)討論。 因此,探求該項(xiàng)制度的產(chǎn)生背景與制度內(nèi)涵,分析其在運(yùn)行過(guò)程中存在的問(wèn)題,并研究其解決方案,為中小企業(yè)私募債制度的健康發(fā)展提供建議是本文的研究目的。 本文首先通過(guò)分析中小企業(yè)的融資現(xiàn)狀和中小企業(yè)債務(wù)融資的發(fā)展概況,全面考察中小企業(yè)私募債的產(chǎn)生背景。從制度和實(shí)踐兩個(gè)方面全面分析中小企業(yè)私募債的制度內(nèi)涵。分析該制度運(yùn)行中存在的問(wèn)題,并研究其解決之道。最后為中小企業(yè)私募債制度的健康發(fā)展提出建議。
[Abstract]:Most of the small and medium-sized enterprises in our country belong to the private nature, compared with the large and medium-sized state-owned enterprises, they are in the scale of operation. Resist the market risk and financing ability belong to the "weak group". SME financing difficulties have been discussed for a long time. May 2012. Shenzhen Shanghai Exchange respectively issued the "small and medium-sized enterprises private equity bond business pilot measures", launched the small and medium-sized enterprises private equity debt business pilot, for our small and medium-sized enterprises to provide a new financing channel. And is welcomed by the capital market. I happen to be the first line of work in the bond market, since the establishment of the system has been engaged in the issue of SMEs private debt underwriting work. The operation of the system has a more intuitive and in-depth understanding. Personally feel that up to now this financing model has not been recognized by many small and medium-sized enterprises. It is not known how to solve the problems existing in the process of issuing bonds and how to solve them. At the same time, through the search of relevant academic literature, it is found that there are few academic studies on private equity debt of SMEs, and there is still a lack of corresponding discussion on system construction and perfection. Therefore, this paper explores the background and connotation of the system, analyzes the existing problems in the process of operation, and studies its solution. The purpose of this paper is to provide advice for the healthy development of private debt system of small and medium-sized enterprises. First of all, this paper analyzes the financing situation of SMEs and the development of debt financing of SMEs. From the aspects of system and practice, this paper comprehensively analyzes the system connotation of private equity debt of small and medium-sized enterprises, and analyzes the problems existing in the operation of the system. Finally, some suggestions are put forward for the healthy development of private debt system of small and medium-sized enterprises.
【學(xué)位授予單位】：中央民族大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F276.3;F832.51

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