基于产业链视角的企业商业信用融资分析.doc

基于产业链视角的企业商业信用融资分析 ——以采掘业和批发零售业为例 摘 要：商业信用融资作为负债融资中常见的一种融资方式，由于其使用成本低廉，且运用灵活方便，已经被众多企业所采纳。本文在对商业信用融资研究的基础上，从产业链视角选取了2个行业，分别是位于产业链上游的采掘业和下游的批发零售业，并在此基础上选取我国上海证券交易所和深圳证券交易所80家上市公司2008—2012年的年度财务报表数据为样本，采用数据分析法对商业信用率、应付账款率、应付票据率、预收账款率等进行数据分析，使用比较分析法以及经验借鉴法得出批发零售业在使用商业信用融资方面高于采掘业的这样的结论。在本文的最后，针对产业链上游行业如采掘业和下游行业如批发零售业提出了可行性建议，并同时针对处于中游的产业进行商业信用融资预测，提出了可行性的建议 关键词：商业信用； 融资； 产业链 A Financing Analysis of Enterprise and Commercial Credit from the Perspective of Industrial Chain—A Case Study of Extractive Industry and Wholesale and Retail Trade Abstract: As a common mode of debt financing, commercial credit financing has been adopted by many enterprises due to its low cost and flexibility. This thesis is based on the study of commercial credit financing. The author selects two industries as a case study, namely, extractive industry in upstream industrial chain and wholesale and retail trade in downstream industrial chain. Besides, the author selects the annual financial statement data from 2008 to 2012 of 80 listed companies of Shanghai Stock Exchange and Shenzhen Stock Exchange as sample data and makes data analysis of commercial credit rate, accounts payable rate, notes payable rate, deposit received rate and so on. By using the method of comparative analysis and experience learning, the author draws a conclusion that wholesale and retail trade is better than extractive industry in using commercial credit financing. In the end, feasible suggestions are made on upstream industrial chain such as extractive industry and downstream industrial chain such as wholesale and retail trade. On top of that, commercial financing predictions about midstream industry are also made by the author. Keywords: Commercial standing; Financing; Industrial chain  目 录 1 绪论 1 1.1 研究背景及意义 1 1.2 研究内容及研究方法 2 2 文献综述 3 2.1 相关概念 3 2.1.1 商业信用 3 2.1.2 产业链 3 2.2 相关文献 4 3 企业商业信用融资分析 6 3.1 样本及指标选取 6 3.1.1 样本选择 6 3.1.2 指标选择 8 3.2 商业信用融资分析 8 3.2.1 资产负债率分析 8 3.2.