摘要
隨著我國(guó)市場(chǎng)經(jīng)濟(jì)的不斷完善，融資成為公司能否生存、發(fā)展、壯大的關(guān)鍵因素之一。融資策略設(shè)計(jì)和執(zhí)行的好壞，對(duì)公司的運(yùn)行與發(fā)展會(huì)帶來(lái)截然不同的結(jié)果，而行之有效的融資策略不僅可以改變公司的經(jīng)營(yíng)困境，給公司帶來(lái)活力，還可以幫助公司提升公司價(jià)值、增強(qiáng)信用等級(jí)和拓寬產(chǎn)品市場(chǎng)，是公司治理和長(zhǎng)遠(yuǎn)發(fā)展最有力的工具。
本文以xx公司的融資策略為研究對(duì)象，它是一家國(guó)有企業(yè)，為了能夠增強(qiáng)公司競(jìng)爭(zhēng)力，適應(yīng)市場(chǎng)競(jìng)爭(zhēng)新形勢(shì)的需要，xx公司逐步調(diào)整產(chǎn)品結(jié)構(gòu)，進(jìn)一步提高了市場(chǎng)抗風(fēng)險(xiǎn)能力，以實(shí)現(xiàn)公司跨越式的發(fā)展。
本文試圖用融資理論和金融工程方面的某些知識(shí)來(lái)探討xx公司融資策略問(wèn)題。從本文的結(jié)構(gòu)來(lái)看，首先論述了融資的重要性，從融資目的、融資渠道、融資決策幾個(gè)方面加以闡述，為xx公司融資策略奠定理論基礎(chǔ)；其次，介紹了xx公司的基本情況、歷史狀況及融資分析，通過(guò)定性和定量分析方法，指出xx公司在融資方面存在的問(wèn)題和弊端，為融資策略的設(shè)計(jì)和實(shí)施提供現(xiàn)實(shí)基礎(chǔ)；最后，根據(jù)現(xiàn)有融資問(wèn)題和學(xué)過(guò)的融資理論，結(jié)合x(chóng)x公司經(jīng)營(yíng)戰(zhàn)略目標(biāo)和市場(chǎng)需求，為xx公司制定融資策略，具體針對(duì)資本市場(chǎng)缺失，提出加強(qiáng)融資渠道的開(kāi)辟和實(shí)施，同時(shí)采取的融資風(fēng)險(xiǎn)控制，特別是運(yùn)用金融衍生工具對(duì)xx公司實(shí)行套期保值，為公司生產(chǎn)經(jīng)營(yíng)活動(dòng)起到保駕護(hù)航作用，為xx公司的發(fā)展壯大提供了理論支持。

關(guān)鍵詞 融資 融資策略 資本市場(chǎng) 融資風(fēng)險(xiǎn)


Abstract
As China's market economy continues to improve as a company's ability to finance the survival, development, and expand one of the key factors. The design and implementation of financing strategies and the bad, the company's operation and development will give rise to different results, and effective financing strategy can not only change the company's financial difficulties and bring vitality to the company, but also can help companies enhance the company values, enhance the credit rating and expand the product market is corporate governance and long-term development of the most powerful tool.
In this paper, the company's financing strategy for the Great as the research object, the Great Northern Wilderness is a state-owned enterprises, engaged in chemical production and sales, the main products are urea, methanol and so on. In order to enhance the company's competitiveness, to adapt to the new market situation, the Great Northern Wilderness progressive adjustment of product structure, to further improve the market ability to resist risks, in order to achieve the development of the company by leaps and bounds.
This paper attempts to use finance theory and financial engineering expertise to explore some of the Great Northern Wilderness corporate finance strategy. Judging from the structure of this paper, first discusses the importance of financing from the financing end, the financing channels, the financing decision-making on several aspects, corporate finance strategy for the Great Northern Wilderness has laid the theoretical foundation; Secondly, the company introduced the basic situation of the Great Northern Wilderness and historical analysis of the situation and financing, through qualitative and quantitative analysis methods, pointing out that the Great Northern Wilderness in the financing problems and disadvantages of financing strategies for the design and implementation of foundation in reality; Secondly: the company introduced the basic situation of the Great Northern Wilderness, historical analysis of the situation and financing: through qualitative and quantitative analysis methods: pointing out that the Great Northern Wilderness in the financing problems and disadvantages of financing strategies for the design and implementation of foundation in reality; Finally, Under the existing financing and studied the theory of financing, combined with the strategic objectives of the Great Northern Wilderness companies and market demand for the Great Northern Wilderness companies financing strategy: Lack of capital market specific, recommendations for strengthening the financing and implementation of open channels at the same time to take the financing risk prevention measures, especially the use of financial derivatives to hedge against the Great Northern Wilderness companies, production and operation activities for the company to play the role of escort for the the company's development and expansion of the Great Northern Wilderness provides a theoretical support.

Key words financing financing strategies capital markets financing risks


目 錄
摘要 I
ABSTRACT II

第1章 緒論 1
1.1 研究背景 1
1.2 研究的目的和意義 1
1.3 國(guó)內(nèi)外研究現(xiàn)狀 1
1.3.1 國(guó)外研究現(xiàn)狀 1
1.3.2 國(guó)內(nèi)研究現(xiàn)狀 2
1.4 研究的方法 3
第2章 融資的理論基礎(chǔ) 5
2.1 融資定義 5
2.2 融資的基本原則 5
2.3 融資渠道 6
2.3.1 內(nèi)部融資 6
2.3.2 債權(quán)融資 6
2.4.1 MM理論 7
2.4.2 權(quán)衡理論 8
2.4.3 信息不對(duì)稱(chēng)理論 8
2.4.4 企業(yè)新優(yōu)序融資理論 9
第3章 XX公司融資現(xiàn)狀及成因分析 10
3.1 XX公司概況 10
3.2 XX公司融資活動(dòng)成果評(píng)價(jià) 10
3.3 XX公司財(cái)務(wù)狀況 11
3.4 XX公司融資的必要性 13
3.5 造成xx公司融資困難問(wèn)題的原因分析 13
3.5.1 xx公司內(nèi)源融資能力不足 13
3.5.2 xx公司間接融資渠道不暢通 14
3.5.3 直接..