BT模式對投資人財務結(jié)構(gòu)影響研究
發(fā)布時間：2019-03-17 09:16
【摘要】：截止2012年末，我國的城市化率為52.6%，中國城市化進入關(guān)鍵發(fā)展階段。但是城市市政基礎(chǔ)設(shè)施投資滯后的問題卻制約著城市的發(fā)展，大中型城市交通擁堵越來越嚴重，城市供水、燃氣、熱力管網(wǎng)、無害化污染處理及污水處理等基礎(chǔ)設(shè)施滿足不了城市發(fā)展需求，城市基礎(chǔ)設(shè)施建設(shè)資金嚴重短缺。如何化解政府在基礎(chǔ)設(shè)施建設(shè)中資金缺乏，積極尋求解決辦法，已逐漸成為政府、企業(yè)、金融界的思考。隨著金融市場的充分發(fā)展，金融工具不斷創(chuàng)新，BT模式這種新型的投融資模式在基礎(chǔ)設(shè)施及公用項目得到了政府、銀行及金融機構(gòu)的支持，被引入到城市基礎(chǔ)設(shè)施建設(shè)中來，有效的緩解了資金的短缺。同時，，作為BT項目投資人的國有大中型建筑企業(yè)通過自身強大的融資能力和施工管理能力，以BT模式參與工程項目的投資建設(shè)，搶占市場份額，改變投資渠道，促進了企業(yè)轉(zhuǎn)型發(fā)展，實現(xiàn)國有資本的保值增值。 本文以BT模式運作項目對投資人財務結(jié)構(gòu)的影響為中心，首先從BT模式的融資理論基礎(chǔ)進行系統(tǒng)分析，描述了BT模式的特點和運行流程，明確了投資人在BT模式中的關(guān)鍵作用，并對投資人財務結(jié)構(gòu)的含義和影響進行了分析。之后本文重點分了析投資人在BT項目的融資方式對投資人財務結(jié)構(gòu)影響，最后本文以武漢二環(huán)線BT項目為案例，分析了投資人如何通過BT模式來運作項目，采取合適融資方式，改善財務指標，優(yōu)化財務結(jié)構(gòu)。本文的研究將為投資人在BT模式運作項目、優(yōu)化財務結(jié)構(gòu)、防范債務風險、提升資產(chǎn)運行質(zhì)量提供借鑒和實際指導意義。
[Abstract]:By the end of 2012, the urbanization rate of China was 52.6%, and the urbanization of China had entered the key stage of development. However, the lagging investment in urban municipal infrastructure is restricting the development of the city. Traffic congestion in large and medium-sized cities is becoming more and more serious, and urban water supply, gas and heat pipe networks are becoming more and more serious. The infrastructure such as harmless pollution treatment and sewage treatment can not meet the needs of urban development, and the capital for urban infrastructure construction is seriously short. How to resolve the lack of funds in infrastructure construction and actively seek solutions has gradually become the thinking of the government, enterprises and financial circles. With the full development of the financial market and the innovation of financial instruments, the new investment and financing model of BT model has been supported by the government, banks and financial institutions in infrastructure and public utilities, and has been introduced into the construction of urban infrastructure. The shortage of funds has been effectively alleviated. At the same time, the large and medium-sized state-owned construction enterprises, as investors in BT projects, participate in the investment and construction of engineering projects with BT mode through their strong financing ability and construction management ability, seize market share, and change the investment channels. Promoted the enterprise transformation development, realizes the state-owned capital to maintain and increase the value. This paper focuses on the influence of BT mode operation project on investor's financial structure. Firstly, it analyzes systematically the financing theory of BT model, describes the characteristics and operation process of BT model, and clarifies the key role of investor in BT model. It also analyzes the meaning and influence of investor's financial structure. In the end, taking Wuhan Erhuan Line BT project as an example, this paper analyzes how investors operate the project through BT mode and adopts appropriate financing mode, and then analyzes the influence of financing mode on the financial structure of the investor in BT project, finally, taking Wuhan Erhuan Line BT project as an example, this paper analyzes how investors operate the project through BT mode. Improve the financial indicators, optimize the financial structure. The research in this paper will provide reference and practical guidance for investors to operate projects in BT mode, optimize financial structure, guard against debt risk, and improve the quality of assets operation.
【學位授予單位】：云南師范大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F285
本文編號：2442147
[Abstract]:By the end of 2012, the urbanization rate of China was 52.6%, and the urbanization of China had entered the key stage of development. However, the lagging investment in urban municipal infrastructure is restricting the development of the city. Traffic congestion in large and medium-sized cities is becoming more and more serious, and urban water supply, gas and heat pipe networks are becoming more and more serious. The infrastructure such as harmless pollution treatment and sewage treatment can not meet the needs of urban development, and the capital for urban infrastructure construction is seriously short. How to resolve the lack of funds in infrastructure construction and actively seek solutions has gradually become the thinking of the government, enterprises and financial circles. With the full development of the financial market and the innovation of financial instruments, the new investment and financing model of BT model has been supported by the government, banks and financial institutions in infrastructure and public utilities, and has been introduced into the construction of urban infrastructure. The shortage of funds has been effectively alleviated. At the same time, the large and medium-sized state-owned construction enterprises, as investors in BT projects, participate in the investment and construction of engineering projects with BT mode through their strong financing ability and construction management ability, seize market share, and change the investment channels. Promoted the enterprise transformation development, realizes the state-owned capital to maintain and increase the value. This paper focuses on the influence of BT mode operation project on investor's financial structure. Firstly, it analyzes systematically the financing theory of BT model, describes the characteristics and operation process of BT model, and clarifies the key role of investor in BT model. It also analyzes the meaning and influence of investor's financial structure. In the end, taking Wuhan Erhuan Line BT project as an example, this paper analyzes how investors operate the project through BT mode and adopts appropriate financing mode, and then analyzes the influence of financing mode on the financial structure of the investor in BT project, finally, taking Wuhan Erhuan Line BT project as an example, this paper analyzes how investors operate the project through BT mode. Improve the financial indicators, optimize the financial structure. The research in this paper will provide reference and practical guidance for investors to operate projects in BT mode, optimize financial structure, guard against debt risk, and improve the quality of assets operation.
【學位授予單位】：云南師范大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F285
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