【摘要】：LT公司是一家以城市基礎(chǔ)設(shè)施投資建設(shè)、高速公路投資及營(yíng)運(yùn)、城市污水處理和房地產(chǎn)開(kāi)發(fā)為主要產(chǎn)業(yè)的民營(yíng)企業(yè)。長(zhǎng)久以來(lái)，公司一直受資金短缺的困擾，，尤其是近年來(lái)國(guó)家開(kāi)始宏觀政策調(diào)控，緊縮銀根，公司對(duì)高速公路運(yùn)營(yíng)業(yè)務(wù)的投資又無(wú)法及時(shí)收回，這使得LT公司的建設(shè)及生產(chǎn)資金更為緊缺。通過(guò)對(duì)LT公司的分析發(fā)現(xiàn)，其所面臨的融資困境主要體現(xiàn)為：公司融資以應(yīng)急融資為主，融資成本較高；融資結(jié)構(gòu)不合理，資產(chǎn)負(fù)債率居高不下；融資渠道狹窄以及公司在進(jìn)行外部融資時(shí)，金融機(jī)構(gòu)的支持力度不足等。通過(guò)運(yùn)用定量與定性相結(jié)合的方法、系統(tǒng)分析法對(duì)LT公司財(cái)務(wù)因素與行業(yè)因素兩個(gè)方面進(jìn)行分析，發(fā)現(xiàn)造成LT公司融資困境的內(nèi)外部因素主要是：LT公司融資缺乏一個(gè)長(zhǎng)期的明確的規(guī)劃，融資帶有很強(qiáng)的偶然性；公司對(duì)內(nèi)源融資的重視程度不足，偏向于外部融資；公司未在資本市場(chǎng)上累計(jì)起良好的信譽(yù)以及長(zhǎng)久以來(lái)社會(huì)對(duì)民營(yíng)企業(yè)的歧視等。借鑒國(guó)外民營(yíng)企業(yè)的融資經(jīng)驗(yàn)，今后LT公司在融資過(guò)程當(dāng)中一定要遵循計(jì)劃融資、理性融資，避免出現(xiàn)應(yīng)急性融資，要遵循融資順序，注重融資方式的創(chuàng)新，要始終將降低融資成本放在第一位，注重構(gòu)建與金融機(jī)構(gòu)的長(zhǎng)效合作機(jī)制，同時(shí)還應(yīng)深入挖掘內(nèi)源融資、運(yùn)用動(dòng)產(chǎn)擔(dān)保融資、發(fā)展融資租賃等以全面緩解LT公司所面臨的融資困境。
[Abstract]:LT is a private enterprise with investment in urban infrastructure, highway investment and operation, urban sewage treatment and real estate development as the main industries. For a long time, the company has been plagued by the shortage of funds, especially in recent years, the state began macro-policy regulation and control, tightened the monetary policy, and the company's investment in highway operations could not be recovered in time. This makes LT's construction and production funds even more scarce. Through the analysis of LT, it is found that the financing dilemma is as follows: the financing of the company is mainly emergency financing, the financing cost is high, the financing structure is unreasonable, the ratio of assets and liabilities is high, the financing structure is not reasonable and the ratio of assets to liabilities is high. Narrow financing channels and the company in the external financing, financial institutions support is insufficient and so on. Through the combination of quantitative and qualitative methods, the system analysis method is used to analyze the two aspects of financial factors and industry factors of LT Company. It is found that the internal and external factors causing the financing predicament of LT company are: the lack of a long-term clear plan for financing of LT company, and the strong chance of financing; The company does not pay enough attention to endogenous financing and favors external financing, and the company has not accumulated good reputation in the capital market and long-standing social discrimination against private enterprises and so on. Drawing lessons from the financing experience of foreign private enterprises, in the future, LT companies must follow the plan financing, rational financing, avoid acute financing, follow the financing sequence, pay attention to the innovation of financing methods, in the future financing process must follow the plan financing, rational financing, avoid the emergence of acute financing, We should always put reducing financing costs first, pay attention to the construction of a long-term cooperative mechanism with financial institutions, at the same time, we should also dig deeper into endogenous financing and use movable property guarantee to finance, Development of financial leasing and so on in order to alleviate the financing difficulties faced by LT Company in an all-round way.
【學(xué)位授予單位】：長(zhǎng)沙理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F276.5

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