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论文编号：	7820
作者编号：	2120132793
上传时间：	2015/12/7 12:35:45
中文题目：	T航空公司融资方式的研究
英文题目：	Research on the financing mode of T airlines
指导老师：	陈国欣
中文关键字：	航空企业，融资方式，债券融资，股权融资，盈余融资
英文关键字：	Aviation enterprises, financing, bond financing, equity financing
中文摘要：	随着资本市场的不断发展，企业的融资活动越来越受到重视，融资的方式也层出不穷。西方的股票和证券交易所最早产生于17世纪的欧洲国家荷兰，后直接融资逐渐在欧美国家兴起并规范化，而日本推崇的则是规范化的银行间接融资。我国的企业融资兴起于19世纪末20世纪初，在20世纪中后期开始走上规范化的道路。从我国过去的实践来看，我国一直实行以间接融资为主的融资模式，最近开始向直接融资以及市场化的融资方向发展，并建立了不同的金融体系监管机构。 民航业是资本准入较高的行业，同时也是高资产负债率的行业。航空企业为资本密集型企业，资金准入门槛较高，探究更多的融资方式对于航空企业的发展非常重要。目前我国的航空企业在飞速发展的阶段，航空公司的战略方针大部分都是是扩大生产规模，抢占空中市场。融资不仅是航空企业生产经营活动的前提，也是企业扩大生产规模的保证。企业融资对于民航企业具有十分重要的战略意义，尤其探究合理的企业融资方式对于民航企业调整资产负债结构、置换长短期贷款结构具有很大的意义。 本文回顾了融资的相关理论，对于中国民用航空公司的融资途径按照不同的性质和监管机构进行了分类和比较，分析了中国境内典型的航空公司中国东方航空股份有限公司和深圳有限责任公司的主要资产飞机的引进方式以及有息债务的结构，分析和阐述了T航空公司的负债结构和融资方式的现状、融资途径的发展以及相关融资工具的创新，文章的最后分析了T航空公司的资产和负债的配置结构以及相关融资途径的优劣和对财务结构的影响并提出了建议。构思本文的的最终目的在于，给予中国境内航空企业乃至其他行业关于企业融资方式的参考范例，并寻找适合T航空公司的融资方式，从而促进T航空公司的发展和长期盈利，达到资产和负债的最优质配比。
英文摘要：	With the continuous development of the capital market, more and more attention is paid to the financing of enterprises. Stock in the West were first produced in Holland in seventeenth Century, and then the direct financing of the stock exchange in Europe and the United States rose and standardized, and Japan is highly regulated by the bank's indirect financing. Enterprise financing in China rose in the end of twentieth Century. In the middle and later period of nineteenth Century began to go on the road of standardization. From the practice of our country, china has been implementing the financing mode of indirect financing, which has recently started to develop the direct financing and the market oriented financing. The civil aviation industry is the industry with high capital access, but also the industry of high asset liability ratio. Aviation enterprises are capital intensive enterprises, capital access threshold is higher, explore more financing way for the development of aviation enterprises is very important. At present, China's aviation enterprises in the rapid development stage, the airline's current strategic approach to most of the expansion of production scale, to seize the air market. Financing is not only a prerequisite for the production and management activities of aviation enterprises, but also the guarantee of the expansion of the scale of production. Enterprise financing has very important strategic significance for civil aviation enterprises. Especially, it is very important to study the reasonable financing way for civil aviation enterprises to adjust the structure of assets and liabilities. This paper reviews the relevant theory of financing, the financing channels of China's civil aviation companies in accordance with the different nature and regulatory agencies to classify and compare the main assets of China Eastern Airlines Co and Shenzhen limited liability company's introduction of the main assets of the aircraft and the structure of interest bearing debt, analysis and exposition of the current situation of the T airline's liability structure and financing, financing channels and related financing tool innovation. The ultimate goal of the article is to give the Chinese domestic aviation enterprises and other industries on the enterprise financing way of reference example, and to find suitable for T airline financing way, so as to promote the development of aviation enterprise and long-term profit.
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