Theory And Method Study Of Enterprise's Capital Operation

Capital is a rare economic resource. It is the blood that maintains enterprise's life. It is a starting point and a terminal point of value circulation. The effective raising of capital is the prerequisite of enterprise's development and rational disposition of capital is the premise of enterprise's development. The utilization result of rare capital resource depends on enterprise's investment, financing and capital operation, so it is an important subject to carry on a research to enterprise's capital operation. The thesis is divided into eight parts. The first part is a introduction part, which has explained the research background of the thesis and research significance, tends of the domestic research and the international research, research contents and research goals, the trains of thought of research and research approaches. The second part is the research on the basic theory, which has explained the connotation, extension and interrelation of capital, investment, and financing and capital operation and pertinent theories. Among those, capital contents of enterprise is expanded to assorted capitals which include various kinds of invaluable capital and the various capital operation course of enterprise has been reflected with a concise figure. In addition, the paper thinks that the capital operation of enterprises includes investment and financing, that investment and financing is a key link of enterprise's capital operation and that the result and efficiency of investment and financing influences the result and efficiency of enterprise's capital operation and that the enterprise's capital operation provides with funds for enterprise's financing. The fast development of enterprises should take the way of property right capital operation and relies on enterprise's good financial administration and the operation of other invaluable capital. The third part is the research on the　applied theories, which include capital operation whys theories, financial decision-making theories and capital operation principles. The fourth part is the research on the ways and financial decision-making methods of enterprises' capital operation. On the purpose of satisfying enterprise' tactics, it has classified all kinds of ways of enterprises' capital operation into three ranks, including expanding rank, shrinking rank and governing　rank, and has explained and analyzed the ways in each rank. It has summarized the financial decision-making methods of capital operation, which are reflected by the charts and has compared and analyzed the main method among them. It also has pointed out the problems that need to been solved and has offered the suggestions of solving the problems. The fifth part is a summary of experiences of the capital operation of overseas enterprises. The sixth part is the research of enterprise's capital operation of our country. It has studied the history and current situation of domestic enterprises' capital operation and has analyzed the problems and reasons of the domestic capital operation. The domestic enterprises' capital operation of our country has the problems that the efficiency is low and the successful rate is low. The main reason has two respects. On one hand, it is because of the problem of enterprise's external condition and environmental, including excessive intervention of the government, unperfected capital market and etc. On the other hand, it is because of enterprise's own problems, including the blindness in enterprise's capital operation, the unfavorable financial decision-making and the unfavorable invaluable capital operation afterwards capital operation. The seventh part is the research on improvement of enterprises' capital operation practices. Aiming the problems discussed in the part 6, it puts forward three improvement suggestions in benefit of overseas enterprises' experiences and expounds the realization methods. The eighth part is a conclusion and expectation part. It has summarized the whole research and has pointed out the innovations of this dissertation. It has narrated the expectation.