本文選題：融資結(jié)構(gòu) + 融資模式��； 參考：《財政部財政科學(xué)研究所》2014年碩士論文

【摘要】：企業(yè)融資結(jié)構(gòu)是指企業(yè)資金來源的構(gòu)成情況,企業(yè)資金來源大致可以分為負(fù)債和股權(quán),企業(yè)融資渠道和融資模式?jīng)Q定著企業(yè)的融資結(jié)構(gòu)。隨著我國經(jīng)濟的發(fā)展,企業(yè)的融資渠道和融資方法逐漸增加。企業(yè)融資方式和融資結(jié)構(gòu)的選擇受到外部環(huán)境和內(nèi)部因素的影響。企業(yè)融資結(jié)構(gòu)的選擇又影響著企業(yè)的發(fā)展?fàn)顩r、財務(wù)狀況和運行狀況。 本文結(jié)合我國企業(yè)目前融資狀況和融資方式選擇的現(xiàn)狀,對蘇寧的融資方式和融資來源進行分析。本文分析了蘇寧歷年融資結(jié)構(gòu),研究蘇寧快速發(fā)展過程中資金的來源。本文總結(jié)出蘇寧融資模式的特點,根據(jù)蘇寧的財務(wù)報表分析蘇寧融資模式給企業(yè)造成的不利影響,目的是提出解決問題的辦法和建議,希望能夠為蘇寧今后的融資提供幫助。同時也為其他企業(yè)提供融資方面的借鑒。 本文主要采取案例分析的方法,首先梳理了目前各種融資方式及其特點,再結(jié)合目前我國企業(yè)融資方式選擇的現(xiàn)狀,介紹我國目前大部分企業(yè)常用的融資方式,為蘇寧的分析做好準(zhǔn)備。我國目前比較常用的融資方式主要有銀行借款、票據(jù)融資和股權(quán)融資。債券融資的方式在上市企業(yè)中局限性比較大,上市公司普遍存在股權(quán)融資的偏好。其次,針對蘇寧的融資模式,總結(jié)蘇寧的融資來源和融資特點,分析蘇寧融資模式和融資結(jié)構(gòu)的優(yōu)越性和不足。蘇寧發(fā)展的資金主要有三個來源：供應(yīng)商融資、上市之后股權(quán)融資和內(nèi)源融資。蘇寧的融資模式主要存在以下特征：利用類金融模式,占用供應(yīng)商資金,再融資存在明顯股權(quán)偏好,銀行借款融資方式利用不足等。蘇寧的融資模式為企業(yè)提供了發(fā)展資金,保證了蘇寧規(guī)模擴張的順利進行。蘇寧的融資模式總體是值得肯定的,但是它也帶來了一些隱患,比如：長期利用信用融資,一旦出現(xiàn)信用危機,可能引發(fā)經(jīng)營風(fēng)險等等。最后本文針對蘇寧融資中出現(xiàn)的問題,提出建議,希望能夠?qū)μK寧以后的發(fā)展提供幫助。
[Abstract]:Enterprise financing structure refers to the composition of enterprise capital sources, which can be roughly divided into liabilities and equity. Financing channels and financing modes determine the financing structure of enterprises. With the development of our economy, the financing channels and financing methods of enterprises are increasing gradually. The choice of financing mode and structure is influenced by external environment and internal factors. The choice of financing structure influences the development, finance and operation of enterprises. This paper analyzes Su Ning's financing methods and sources according to the current financing situation and financing mode selection of Chinese enterprises. This paper analyzes the financing structure of Su Ning over the years and studies the sources of funds in the rapid development of Su Ning. This paper sums up the characteristics of Su Ning's financing mode, analyzes the adverse effects on enterprises caused by Su Ning's financing model according to Su Ning's financial statements, in order to put forward solutions and suggestions to solve the problems, and hopes to provide help for Su Ning's future financing. At the same time also for other enterprises to provide financing for reference. This article mainly adopts the case analysis method, first combs each kind of financing way and its characteristic at present, then unifies the present our country enterprise financing way choice present situation, introduces our country at present most enterprise commonly used the financing way. Prepare for Su Ning's analysis. At present, the financing methods commonly used in our country are mainly bank borrowing, bill financing and equity financing. The way of bond financing is more limited in listed enterprises, and there is a preference for equity financing in listed companies. Secondly, according to Su Ning's financing mode, summarizes the financing source and the financing characteristic of Su Ning, analyzes the advantage and the insufficiency of Su Ning's financing mode and financing structure. Su Ning's development fund has three main sources: supplier financing, equity financing after listing and endogenous financing. Su Ning's financing mode mainly has the following characteristics: using financial model, occupying supplier funds, refinancing has obvious equity preference, bank loan financing mode is underutilized and so on. Su Ning's financing model provides development funds for enterprises and ensures the smooth expansion of Su Ning's scale. Su Ning's financing model is positive in general, but it also brings some hidden dangers, such as long-term use of credit financing, once there is a credit crisis, it may lead to operational risks and so on. Finally, this paper puts forward some suggestions on the problems in Su Ning's financing, hoping to provide help for the future development of Su Ning.
【學(xué)位授予單位】：財政部財政科學(xué)研究所
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F406.72;F426.6

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