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论文编号：	4357
作者编号：	2220100540
上传时间：	2012/6/7 13:51:46
中文题目：	民营上市公司融资方式选择对控制权的影响研究
英文题目：	Research on Impact of Financing Method Selection for Control Rights of the Listed Private-Controlled companies
指导老师：	王全喜
中文关键字：	民营上市企业、融资方式、控制权
英文关键字：	Listed private-controlled companies, financing, control rights
中文摘要：	随着我国社会主义市场经济的不断发展和日趋完善，市场主体形式的日益多样化，民营企业无论从规模还是数量上都取得了空前的发展，并为国民经济的增长做出了重要贡献。但是与西方发达国家相比，我国资本市场还属于新兴市场，由于其发展时间较短，相关金融法律制度还不健全，市场环境也不够完善等诸多问题的存在，使得民营企业的上市融资之路困难重重。但是，民营企业要想做大做强实现资本增值，上市融资是必然之选。由于上市融资涉及到民营企业家的自身利益问题，他们在拓宽融资渠道的同时更加关注企业的控制权问题，因此对民营上市公司融资对控制权的影响问题上更具有研究意义。所以本文也将研究的重点放在民营企业在融资方式的选择问题上对企业大股东控制权的影响以及对策上。本文以融资理论和控制权理论为基础，共分为六章。第一章对本文的研究背景与意义、研究内容与方法以及研究框架与核心问题进行了介绍，是整篇文章的框架。第二章回顾和梳理了融资理论和控制权理论的相关知识，是后文论述的理论基础。第三章主要对民营企业主要的上市融资方式、上市融资现状、主要上市方式的特点及与控制权的关系问题做出论述和分析。第四章研究了民营企业上市后的主要再融资方式、常用融资方式的特点及优劣势以及不同再融资方式对控制权的影响。第五章通过分析国美电器上市融资与再融资的方法和手段进行案例分析，从中找到值得借鉴的方法。第六章为文章结论部分，对文章的主要观点进行总结和归纳。民营企业的规模已经得到了空前的发展，可以选择的融资方式也日益多样化，民营企业要结合企业的实际情况，在不影响控股股东控制权的前提下做出合理的融资决策，只有不断适应外部的经济环境变化，抓住机遇才能成为现代化企业。
英文摘要：	With the ever –increasing of economic and diversity of market entities, the number and scale of listed private-controlled companies has been developed to an unprecedented level. Since reforming and opening-up, civilian economy in our country makes a great contribution to our national economy. China’s capital market is still an emerging market compared with western mature one. Since various reasons still exist, such as the short period of development, imperfect of financing policy and regulations, malfunction of financial market environmental etc, which make private-controlled companies faced very difficult financial situation. Private-controlled companies want to achieve the goal of strengthen and expand and capital appreciation, seeking a listing that gives them access to capital become its inevitable choice. Seeking financing by listing touch the issues of private entrepreneurs’ own benefits, which make them pay much attention to control rights problem. So, the research on impact of financing method selection for control rights has its researching meaning, which is also the main point for this thesis. This thesis is based on the theory of financing and control right. The first chapter is introduction about the research background, significance of the contents; researching methods, research framework and core issues, which are the foundation of full article for the discussion. The second chapter is the basic theoretical knowledge of financing and control right and make the theory better combined with practice. The third chapter is an introduction and analysis the method selection of private-controlled companies, the situation of financing, the feature of listing and listing method selection’s impact to control rights. Chapter IV mainly analyzes after listing, the re-financial method selection of private-controlled companies, merit and weakness of different re-financial method and the impact to control rights. Chapter V mainly analyzes financing case of Gomes company and finding ways and solutions. Chapter VI is a summary of the entire article. Listed private-controlled companies should make sound financial decision combined with its real situation, so that listed private-controlled companies can become modern enterprises and have a better progress.
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