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论文编号：	7034
作者编号：	2220100526
上传时间：	2014/12/10 16:39:30
中文题目：	天津JY公司风险管理研究
英文题目：	The Risk Management Research about Tianjin JY Company
指导老师：	黄福广
中文关键字：	JY公司；BOT；风险；管理
英文关键字：	JY Company; investment and financing; risk; management
中文摘要：	随着政府公共服务工作的推进，我国基础设施建设投资规模日益增大。在解决投资资金缺口问题方面，市政建设项目公司发挥了重要作用。但市政建设项目公司在接受政府委托、开展城市基础设施建设的过程中，也面临多方面的风险，在此背景下，本文以天津JY公司为例展开研究。JY公司作为市政建设项目公司中的一员，主要从事天津西站项目开发及周边地块土地整理工作。由于西站项目投资规模大，建设周期长，施工难度大，公司所遇还款压力、成本上涨、收益波动问题在行业内具有一定代表性，本文将通过规划JY公司的风险管理举措，以期为业内其他公司提供有价值的参考。论文首先介绍此次研究的背景、意义及方法，研究创新及思路架构，研究所依据的理论基础，然后系统分析JY公司面临的风险。JY公司的发展围绕天津西站项目，由于工程进度滞缓，造成还款计划的错配，公司因此面临偿债风险。同时近年来原材料价格上涨、人力成本上涨，拆迁费用增加，建设期利息增加，工程实际成本超过概算。加之土地整理收益存在波动，JY公司急需对现有风险进行管理。综合考虑市场、政策等因素影响及公司未来发展，JY公司将重新制定融资计划，改善内部经营管理，以实现对成本的控制，并注重对流动性资产的开发，如保障性住房项目，以确保收益的稳定。
英文摘要：	With the promotion of public service, the investment scale of infrastructure construction in our country develops very fast. In order to solve the funding gap, the municipal construction item company plays an important role. But in the process of infrastructure construction entrusted by the government, the municipal construction item company also faces various risks. Under this background, this paper chooses Tianjin JY Company to be the research object. As one of the municipal construction item companies, JY Company mainly engaged in TianJin West Railway Station project development and the surrounding land’s consolidation work. As the station project’s investment scale is large, the construction period is long, and the construction process is difficult, the company needs to face the risks of repayment pressure, rising cost and income fluctuation, which are representative in this industry. So this paper will focus on JY Company’s risk management countermeasures, and provide valuable reference for other companies in this field. First this paper introduces the research background, significance and methods, the research status and innovation, the research framework and the basic theories, and then begins to discuss the case. JY Company mainly carries out the investment and financing work of Tianjin West Station. As the project progress is slow, it causes the mismatch of repayment plan, and the company has to face repayment risk. At the same time, in recent years the material price and labor costs rises fast, the relocation costs increase, and the construction period’s interest increases, which makes the actual cost of the project exceeds the budgetary estimate. In addition, the land consolidation benefits has fluctuation, JY Company must carry out risk management. According to the market and policy factors and the future development, JY Company should remake the financing plan, improve the operation and management, in order to control the costs, and pay attention to the convection assets’ development, such as s, JY company urgently needs to pay attention to the convection development assets carry on the management to the existing risk. The future development of protection of housing project, and then ensure the stability of earnings.
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