TYZ股份有限公司融资策略研究-工商管理专业论文.docxVIP

山东理 山东理工大学硕士学位论文 摘要 I I 摘 要 国际金融危机过后,国内经济经历了持续的通货膨胀，居民消费价格指数继续走 高。2010 年以来，中国政府面对经济过热的形势，为实现经济的“软着陆”，多次 提高银行存款准备金率和存贷款利率，降低货币供应量，以抑制国内过热的投资行为。 在宏观经济环境影响下，企业间接融资日益困难，并出现因资金短缺而破产和董事长 “跑路躲债”的局面。如何充分发挥企业拥有的自身科技、技术、产业优势，合理设 计融资方案，顺利度过经济难关以求实现企业效益最大化，成为国内传统制造企业面 临的难题。 本文首先从融资相关理论出发，简单介绍融资理论在国内外的发展状况；然后， 结合 TYZ 公司的实际情况，从内部和外部两个方面对公司多年来的融资方式进行了具 体的描述；接着本文运用两种方法对企业 2013 年的融资决策和资本结构进行研究评 价，并从宏观上指出企业资本结构存在的问题，之后通过比率分析等方法从微观上分 析企业存在的问题。最后文章根据 TYZ 公司存在的问题提出相应的对策。 通过研究发现目前该公司存在的问题主要在于债务结构不合理、股权融资对象过 于单一等方面，TYZ 公司应不断改进融资策略以求在未来的竞争与发展中取得更加有 利地位。 关键词：造纸行业；融资策略；资本结构；股权融资 山东理 山东理工大学硕士学位论文 ABSTRACT I II ABSTRACT Since the international financial crisis, the problem of inflation in China continued, the consumer price index rising. In the face of economic overheating situation, The Chinese government repeatedly raised bank deposit reserve ratio and deposit and loan interest rate, reduce the money supply to restrain domestic overheating investment behavior since 2010, in order to realize the economic soft landing. In the macroeconomic environment effecting, enterprises indirect financing is difficult, due to a shortage of funds and bankruptcy situation appears. Domestic traditional manufacturing enterprises are facing problems is how to give full play to its own technology, technology, industry dominant position, reasonable design of financing plan, solve the problem of shortage of funds, right through and maximize the benefit of enterprise. Firstly, from the finance-related theory, a brief financing theory at home and abroad related development, and then combined TYZ Co., Ltd s reality, from the external and internal two generous face of the companys financing environment, is analyzed. Through the use of two type of method, this article shows TYZ company’s unreasonable captal from the macro. Then, this article analyzes the existing problems by the method of ratio analysis from the microscopic. Finally, the article proposes the corresponding measures according financing problems of the