基于财务战略下的民营企业融资研究-企业管理及其信息化专业论文.docxVIP

基于财务战略下的民营企业融资研究 基于财务战略下的民营企业融资研究 摘要 融资困境一直是阻碍我国民营企业可持续发展的重要问题。2008年全球性 金融危机爆发以后，我国一批中小民营企业由于资金链断裂而停顿破产，民营 企业融资再度成为社会热点话题。除了金融体制不健全、经济发展水平和政策 法规不完善等外部环境的影响，民营企业缺乏明确的战略规划和目标、融资竞 争力低下也是制约其筹资的重要原因。 面对竞争日益激烈的融资环境，实现企业的长期稳定发展、持续创造企业 价值成为民营企业的本质要求，融资的最终目标是为企业战略的顺利实施提供 资金保证并实现该环节的增值，因此有必要将企业融资决策上升到战略高度。 本文引入战略管理思想分析我国民营企业不同阶段的融资目标和融资需求，认 为财务战略下的融资具有包括企业平衡增长在内的多目标特征，且各融资目标 的重要性会随着不同时期企业的战略调整发生变动。因此建立以融资效率为核 心的指标体系，并运用动态多目标决策模型来评价民营企业的几种常见融资方 式，为民营企业如何在战略目标指引下选择合理的融资方式提供理论参考。 关键词：民营企业；财务战略；融资方式；融资效率 Research Research on Private Enterprises’Financing Based on Financial Strategy ABSTRACT The difficulty to raising money have always been a significant problem of prevent private enterprises’sustainable development in China．After the global financial crisis broke up in 2008，many small-scale Private enterprises went bankrupt because of lack of money， which attracted the social attention on private enterprises’financing problem again．Beside of reasons of unsound financial system，the level of economic development and policy,lack of clear strategy planning and objective and financing competitive power also prevent private enterprises’financing． Facing the growing competition in the financial environment，it becomes an internal requirement to achieve sustainable development and to create value continually，and the ultimate goal of financing is to obtain enough capital for the implement of enterprise strategy．So it is necessary to make strategy planning for financing process．In this article， we apply the strategy management theory to analyze private enterprises’financing obj ectives and demand in different stages．Financing under financial strategy has multi—objective characteristics including the balanced growth of enterprises，and the importance of the financing will target enterprises with different periods of the strategic adjustment of change．Therefore，we will establish a system with the efficiency of finance as the core index，and use a dynamic multi-objective decision model to evalu