【摘要】：能源是經(jīng)濟(jì)發(fā)展的命脈,能源對(duì)于任何國家都具有非常重要的意義,伴隨經(jīng)濟(jì)的不斷向前發(fā)展,各國對(duì)于能源的需求量也相應(yīng)不斷增加。但化石能源儲(chǔ)量是有限的,化石能源的開采速度遠(yuǎn)遠(yuǎn)超過了其生成速度,若按照當(dāng)前速度繼續(xù)開采適用,用不了多少代人化石能源就會(huì)被開采殆盡。為了解決能源需求的不斷加大與化石能源的不可再生之間難以調(diào)和的矛盾,人們逐漸將視野轉(zhuǎn)向了風(fēng)力發(fā)電、太陽能發(fā)電等可再生能源領(lǐng)域,而風(fēng)力發(fā)電由于其獨(dú)特優(yōu)勢(shì)以及技術(shù)的成熟性越來越引起人們的重視。但目前風(fēng)電企業(yè)發(fā)展過程中面臨著一個(gè)重要的難題,即國家能源局在“十三五”規(guī)劃工作中提到的資金支持問題,其指出資金支持問題是風(fēng)電行業(yè)要解決的重點(diǎn)問題,如何有效解決發(fā)展過程中的融資問題,為風(fēng)電企業(yè)的持續(xù)健康發(fā)展提供資金保障,具有較強(qiáng)的研究意義。由此可見,風(fēng)電企業(yè)要想實(shí)現(xiàn)持續(xù)健康發(fā)展,需要解決好融資難題,要解決風(fēng)電企業(yè)的融資難題,首先需要有效應(yīng)對(duì)風(fēng)電企業(yè)融資過程中面臨的各類風(fēng)險(xiǎn),因此,有效識(shí)別風(fēng)電企業(yè)融資風(fēng)險(xiǎn)并進(jìn)行科學(xué)分析評(píng)價(jià),制定合理的應(yīng)對(duì)措施,有效降低或規(guī)避融資風(fēng)險(xiǎn),具有越來越重要的現(xiàn)實(shí)意義。論文在借鑒已有學(xué)術(shù)研究成果的基礎(chǔ)上,依據(jù)企業(yè)融資理論、融資風(fēng)險(xiǎn)理論等相關(guān)原理,對(duì)風(fēng)電企業(yè)融資風(fēng)險(xiǎn)的內(nèi)涵、特點(diǎn)、構(gòu)成、管理、研究方法進(jìn)行了歸納總結(jié),多角度闡述分析了風(fēng)電企業(yè)融資風(fēng)險(xiǎn),并綜合以往文獻(xiàn)、實(shí)踐經(jīng)驗(yàn)和專家意見,構(gòu)建了評(píng)價(jià)指標(biāo)體系并通過構(gòu)建適當(dāng)?shù)臄?shù)學(xué)模型進(jìn)行了評(píng)價(jià)研究。論文首先分析了風(fēng)電企業(yè)融資風(fēng)險(xiǎn)相關(guān)的基礎(chǔ)理論,為指標(biāo)體系的構(gòu)建奠定理論和分析基礎(chǔ);其次,從內(nèi)、外部兩個(gè)維度進(jìn)行風(fēng)險(xiǎn)識(shí)別,其中內(nèi)部又從內(nèi)部財(cái)務(wù)指標(biāo)和內(nèi)部非財(cái)務(wù)指標(biāo)進(jìn)行風(fēng)險(xiǎn)識(shí)別,挖掘風(fēng)電企業(yè)融資風(fēng)險(xiǎn)影響因素構(gòu)建了融資風(fēng)險(xiǎn)評(píng)價(jià)指標(biāo)體系;再次,構(gòu)建了基于熵權(quán)法和德爾菲法的組合賦權(quán)模型賦權(quán)法和突變級(jí)數(shù)法的綜合評(píng)價(jià)模型;最后,選取了三家風(fēng)力發(fā)電企業(yè),應(yīng)用綜合評(píng)價(jià)模型對(duì)三家企業(yè)的融資風(fēng)險(xiǎn)進(jìn)行實(shí)例分析,得出評(píng)價(jià)結(jié)論。通過本文的研究,對(duì)于豐富風(fēng)電企業(yè)融資風(fēng)險(xiǎn)綜合評(píng)價(jià)方面的研究,幫助風(fēng)電企業(yè)識(shí)別和評(píng)價(jià)融資風(fēng)險(xiǎn)提供一定的參考,為企業(yè)管理者、投資者、債權(quán)人提供相關(guān)決策建議,具有較強(qiáng)的理論和現(xiàn)實(shí)意義。
[Abstract]:Energy is the lifeblood of economic development. Energy is of great significance to any country. But the fossil energy reserves are limited, the fossil energy exploitation speed far exceeds its generation speed, if the current rate of exploitation continues to apply, the generation of fossil energy will be exhausted. In order to solve the irreconcilable contradiction between the increasing energy demand and the non-renewable fossil energy, people have gradually turned their attention to the fields of renewable energy, such as wind power generation, solar power generation and so on. Wind power generation has attracted more and more attention because of its unique advantages and mature technology. However, at present, wind power enterprises are facing an important problem in the development process, that is, the state energy bureau mentioned in the "13th Five-Year Plan" the issue of financial support, which points out that the problem of capital support is the key issue to be solved by the wind power industry. How to effectively solve the financing problem in the process of development and provide financial guarantee for the sustainable and healthy development of wind power enterprises is of great significance. It can be seen that if wind power enterprises want to achieve sustainable and healthy development, they need to solve the financing problems, to solve the financing problems of wind power enterprises, first of all, we need to effectively deal with all kinds of risks that wind power enterprises face in the process of financing. It has more and more important practical significance to identify the financing risk of wind power enterprise, to carry on scientific analysis and evaluation, to formulate reasonable countermeasures and to effectively reduce or evade the financing risk. Based on the existing academic research results, the paper summarizes the connotation, characteristics, composition, management and research methods of financing risk in wind power enterprises according to the related principles of enterprise financing theory and financing risk theory. This paper expounds and analyzes the financing risk of wind power enterprise from many angles, and synthesizes the previous literature, practical experience and expert opinion, constructs the evaluation index system and carries on the appraisal research by constructing the appropriate mathematics model. Firstly, the paper analyzes the basic theory of financing risk in wind power enterprise, which lays a theoretical and analytical foundation for the construction of index system. Secondly, it identifies the risk from two dimensions: internal and external. Internal financial indicators and internal non-financial indicators for risk identification, excavated wind power enterprise financing risk factors to build a financing risk evaluation index system; again, In this paper, a comprehensive evaluation model based on entropy weight method and Delphi method is constructed, which is based on the combined weighting model and catastrophe series method. Finally, three wind power enterprises are selected to analyze the financing risk of the three enterprises by using the comprehensive evaluation model. Draw the conclusion of evaluation. Through the research of this paper, it can help wind power enterprises to identify and evaluate financing risks by enriching the research on comprehensive evaluation of financing risks, and to provide relevant decision suggestions for enterprise managers, investors and creditors. It has strong theoretical and practical significance.
【學(xué)位授予單位】：華北電力大學(xué)(北京)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F426.61;F832.4

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