本文選題：投資方案評(píng)估 + 融資設(shè)計(jì)��； 參考：《中南大學(xué)》2014年碩士論文

【摘要】：本文以資本結(jié)構(gòu)理論、生產(chǎn)周期理論、投資決策理論為理論基礎(chǔ),通過案例研究法、文獻(xiàn)分析法、數(shù)據(jù)分析、理論和實(shí)踐相結(jié)合等分析方法,對(duì)通信行業(yè)小型科技創(chuàng)新企業(yè)H企業(yè)的投融資問題進(jìn)行了研究,并對(duì)企業(yè)近期的投融資活動(dòng)進(jìn)行了分析和設(shè)計(jì)。 本文,首先,通過對(duì)H企業(yè)財(cái)務(wù)報(bào)表和實(shí)際經(jīng)營情況的分析,認(rèn)為H企業(yè)目前存在著資金需求量大與債務(wù)風(fēng)險(xiǎn)過高、債務(wù)融資難的困難,存在著投資評(píng)估和風(fēng)險(xiǎn)控制不足的問題,在未來的發(fā)展中,要加強(qiáng)投資預(yù)測(cè)和融資管理。之后,針對(duì)企業(yè)擬投資的智能交換機(jī)生產(chǎn)項(xiàng)目按照融資方式、期初投入量的不同設(shè)定了兩套投資決策待選方案。方案一是假設(shè)引進(jìn)戰(zhàn)略投資者、期初投入大；方案二假設(shè)銀行貸款、期初投入小。并通過對(duì)累計(jì)凈現(xiàn)值、投資回收期等主要決策指標(biāo)、敏感性分析等風(fēng)險(xiǎn)指標(biāo)的計(jì)算,認(rèn)為方案一的經(jīng)濟(jì)效益要優(yōu)于方案二,但風(fēng)險(xiǎn)度稍大于方案二。建議采用方案一,引進(jìn)戰(zhàn)略投資者,加大期初投入,同時(shí)加強(qiáng)風(fēng)險(xiǎn)監(jiān)控。之后,結(jié)合企業(yè)經(jīng)營狀況和項(xiàng)目投資決策方案,設(shè)計(jì)了H企業(yè)的融資方案,在引入戰(zhàn)略投資者的同時(shí)進(jìn)行銀行短期貸款。通過對(duì)新融資方案的成本效益分析、結(jié)構(gòu)分析、風(fēng)險(xiǎn)分析,認(rèn)為該方案具有可行性,能解決企業(yè)資金不足的困境,優(yōu)化企業(yè)的資本結(jié)構(gòu),降低企業(yè)債務(wù)風(fēng)險(xiǎn),降低綜合融資成本。最后,就企業(yè)投資方案和融資方案資金的對(duì)接進(jìn)行了探討和安排,并對(duì)每階段的資金使用成本進(jìn)行了分析,并對(duì)H企業(yè)投融資方案的實(shí)施進(jìn)行了探討和安排,提出了方案實(shí)施的組織機(jī)構(gòu)、流程、控制機(jī)制和考評(píng)機(jī)制。
[Abstract]:Based on the theory of capital structure theory, production cycle theory and investment decision theory, this paper uses case study, literature analysis, data analysis, combination of theory and practice, and so on.This paper studies the investment and financing problems of H enterprise, a small scientific and technological innovation enterprise in communication industry, and analyzes and designs the recent investment and financing activities of the enterprise.First of all, through the analysis of the financial statements and the actual operating situation of H enterprise, it is concluded that H enterprise has the difficulties of large capital demand, high debt risk and difficulty in debt financing.There are some problems in investment evaluation and risk control. In the future, investment forecasting and financing management should be strengthened.Then, according to the financing mode, two sets of investment decision options are set up according to the financing mode of the intelligent switch production project to be invested by the enterprise.The first scenario is to assume the introduction of strategic investors, the beginning of the investment is large; the second scenario assumes bank loans, the beginning of investment is small.Through the calculation of the accumulated net present value (NPV), investment payback period, sensitivity analysis and other risk indicators, it is concluded that the economic benefit of the first scheme is better than that of the second scheme, but the risk degree is slightly larger than that of the second scheme.The first proposal is to introduce strategic investors, increase investment at the beginning of the period, and strengthen risk monitoring at the same time.After that, combining the enterprise management situation and the project investment decision plan, designs the H enterprise financing plan, carries on the bank short-term loan while introducing the strategic investor.Through the cost-benefit analysis, structural analysis and risk analysis of the new financing scheme, it is considered that the scheme is feasible, which can solve the dilemma of the shortage of enterprise funds, optimize the capital structure of the enterprise, and reduce the debt risk of the enterprise.Reduce the cost of comprehensive financing.Finally, the paper discusses and arranges the docking of the enterprise investment scheme and the financing scheme, and analyzes the cost of using the funds in each stage, and discusses and arranges the implementation of the H enterprise investment and financing scheme.The organization, process, control mechanism and evaluation mechanism of the program implementation are put forward.
【學(xué)位授予單位】：中南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F406.7;F426.6

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