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论文编号：	5191
作者编号：	2220110268
上传时间：	2013/6/5 10:30:30
中文题目：	MT公司融资方案研究
英文题目：	Analysis Of MT Company Financing Strategy
指导老师：	张晓农
中文关键字：	中小企业;融资决策;企业生命周期
英文关键字：	SMES (small and medium-sized enterprises);Financing decision;Enterprise life cycle
中文摘要：	2005年，中国新的经济结构已经建立成型，体现为一种二元的经济结构：一“元”是巨无霸似的国企和央企，它们拥有庞大的体制资源和市场；另一“元”则是占企业总数99%的民企，提供了将近八成的城镇就业机会，生产总值占全国总产值的60%，上缴税收总数额占全国总税收的近一半；全国发明专利有六成多是由中小企业研发的,全国新产品的80%是中小企业设计并生产的。改革开放以后,中小企业的快速发展推动我国经济发展，增加了就业岗位，促进了社会稳定，振兴地方经济。然而，融资难问题已成为制约中小企业发展的瓶颈之一，解决中小企业融资难题成为全国乃至全世界的重要并且紧迫的现实问题。目前，我国中小企业主要依靠银行进行融资。而2008年发生金融危机以后，国家不断地收缩银根，中小企业从银行直接借款变得十分的艰难。如何解决融资难的问题，是中小企业可持续发展的关键，也是本文的中心。 本文从融资理论、企业生命周期理论和企业战略理论出发，采用理论与实际案例相结合的分析方法，选取天津MT公司作为本文的研究对象。对MT公司所处的融资环境、融资发展情况和财务状况进行分析，经过对其融资难、融资结构不合理原因的分析，并在发展战略前提下预测未来合理的融资需要量，通过对各种融资方式的特点和可行性分析，最终提出以融资租赁、私募股权融资和多种融资方式相结合的融资方案。 本文基于MT公司的案例分析了企业在成长阶段解决融资难的策略，指出通过增加新的融资方式和提高自身的融资能力，为类似的企业融资提供了一条有效的途径。
英文摘要：	In year 2005, China’s new economic structure has been formed, reflecting as a type of dual economic structure. On one hand, Super Giants such as central enterprises and state-owned enterprises obtain abundant market and systematic recourses; on the other hand, private enterprises, which account for 99% of the total number of enterprises, provide more than 80% job opportunities for urban areas. The production revenue accounts for 60% of total GDP, and the taxes paid as half of the total national tax revenue. Meanwhile, SMES (small and medium-sized enterprises) have developed more than 60% patents and 80% new products of total number of the nation. Since the reform and opening-up, the rapid development of SMES has improved our economic expansion, increased employment, enhanced social stability and boosted regional economy. However, the financing problem has become one of the bottlenecks of SMES development, which has turned into a national and global realistic issue of importance and urgency. At present, national SMES mainly depend on banks for financing. Since the financial crisis in 2008, the government has constantly tightened the money supply; therefore, it becomes more and more difficult for SMES to make direct borrowings from the banks. This thesis emphasizes on resolving the difficulties of financing, which is the key factor for SMES sustainable development. The thesis combines the theoretical study and case analysis (MT Company, Tianjin) on the basis of theories of financing, enterprise life cycle and enterprise strategy. The thesis analyzes the financing environment, financing development situation and financial status of MT Company, as well as difficulties and unreasonable financing structure, in order to predict the financing requirement in the future. Meanwhile, through the feasibility analysis of varies of financing modes, the thesis finally comes to the combining proposal of financial leasing, private equity financing and multiple financing methods. Based on the MT Company case, this thesis analyzes the financing strategies during enterprise developing stage, to provide an efficient solution for similar enterprises through improve new ways of financing and capacities.
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