Research On Financing Capacity Of Railway Industry

With the rapid development of China’s economy, the large-scale railway construction put forward higher requirements on financing. But the current railway financing scale and structure are unreasonable, which cause seriously restrict on development of railway industry in China.The essence of the railway financing is that the railway financing ability is not adapted to the need of railway industry. Based on enterprise financing ability theory, capital formation theory and industrial life cycle theory,, this dissertation analyze the railway financing capacity theory and evaluation method, the put forward the countermeasure to promote the Chinese railway financing ability. The innovation of this work is mainly as followed:(1) On basis of financing ability and industry development, the category, classification and characteristics of railway financing ability are defined, and he immanent relationship between railway financing ability and railway development are discussed from the perspective of systems science.(2) On basis of summing up to the United States, Russia, Japan, India, Britain, Canada, South Korea and other countries as an example, the international comparison on railway financing ability is analyzed.(3) Combined qualitative and quantitative analysis on railway development stage in China, railway financing ability evaluation index system is put forward based on the "pressure-state-response" model, and Chinese railway financing ability evaluation method is designed based on entropy weight method.(4) Chinese railway financing ability guarantee system is analyzed from the aspect of financing main body and financing mode, combined with empirical study to promote railway enterprise financing ability.(5) Based on the research results, countermeasures on railway financing ability are put forward from the anti-loose railway price regulation, pay attention to railroad capital operation and strengthen enterprise asset life cycle management.