發(fā)展公司債券市場(chǎng)支持中小企業(yè)發(fā)展
發(fā)布時(shí)間:2018-01-05 12:17
本文關(guān)鍵詞:發(fā)展公司債券市場(chǎng)支持中小企業(yè)發(fā)展 出處:《上海交通大學(xué)》2014年碩士論文 論文類型:學(xué)位論文
更多相關(guān)文章: 公司債券市場(chǎng) 中小企業(yè)融資
【摘要】:中小企業(yè)融資難問(wèn)題一直是困擾世界經(jīng)濟(jì)發(fā)展的長(zhǎng)期問(wèn)題,中小企業(yè)的信息不透明,可抵押資產(chǎn)匱乏,信貸需求不穩(wěn)定,受宏觀經(jīng)濟(jì)周期影響大等方面的因素決定了其很難得到銀行的青睞。而同時(shí)中小企業(yè)又是穩(wěn)定社會(huì)經(jīng)濟(jì)發(fā)展,保證就業(yè)穩(wěn)定的中堅(jiān)力量,中小企業(yè)能否健康發(fā)展直接決定了整個(gè)社會(huì)的經(jīng)濟(jì)狀況。 本論文從對(duì)中小企業(yè)融資問(wèn)題的原因分析出發(fā),分別從內(nèi)因和外因的角度對(duì)融資難的現(xiàn)狀展開(kāi)剖析,結(jié)合國(guó)內(nèi)外學(xué)者的相關(guān)研究提出了若干解決方案,同時(shí)通過(guò)比較分析和系統(tǒng)分析得出,發(fā)展公司債券市場(chǎng)是有效和穩(wěn)定解決中小企業(yè)融資問(wèn)題的最佳對(duì)策。 繼而分析了公司債券市場(chǎng)對(duì)社會(huì)融資結(jié)構(gòu)和社會(huì)經(jīng)濟(jì)發(fā)展的促進(jìn)作用,并結(jié)合歐美發(fā)達(dá)國(guó)家,以及亞洲新興市場(chǎng)國(guó)家的債券市場(chǎng)發(fā)展經(jīng)驗(yàn),總結(jié)了我國(guó)在發(fā)展債券市場(chǎng)時(shí)可以借鑒的國(guó)外先進(jìn)經(jīng)驗(yàn)。 最后,本論文從投資者的角度討論了如何通過(guò)匹配投資者對(duì)債券市場(chǎng)的不同需求支持中小企業(yè)債券發(fā)展,并從公司治理和監(jiān)管體系的角度提出了若干政策性建議。
[Abstract]:The problem of financing difficulty of SMEs has been a long-term problem that puzzles the development of the world economy. The information of SMEs is not transparent, the mortgage assets are scarce, and the credit demand is unstable. Influenced by the macroeconomic cycle and other factors, it is difficult to get the favor of the banks. At the same time, small and medium-sized enterprises are the backbone force to stabilize the social and economic development and ensure the stability of employment. The healthy development of small and medium-sized enterprises directly determines the economic situation of the whole society. Starting from the analysis of the causes of the financing problems of SMEs, this paper analyzes the current situation of financing difficulties from the perspective of internal and external causes, and puts forward some solutions combined with the relevant research of domestic and foreign scholars. At the same time, through comparative analysis and systematic analysis, it is concluded that the development of corporate bond market is the best countermeasure to solve the financing problem of small and medium-sized enterprises effectively and stably. Then it analyzes the role of corporate bond market in promoting the social financing structure and social economic development, and combines the experience of the developed countries in Europe and the United States, as well as the emerging markets in Asia. This paper summarizes the foreign advanced experience that our country can use for reference when developing the bond market. Finally, from the perspective of investors, this paper discusses how to support SME bond development by matching the different demands of investors on the bond market. And from the perspective of corporate governance and regulatory system put forward a number of policy recommendations.
【學(xué)位授予單位】:上海交通大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2014
【分類號(hào)】:F832.51;F276.3
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