Western Corporate Financing Research

Capital seems blood of an enterprise. It is the important content of the business operating activities and also the continual impetus to the normal economic activities. Corporate financing is the fundamental subject of business operation of enterprises. To maintain normal operation, an enterprise needs to obtain funds through the best financing method.The enterprises in west-china have their own characters, so the financing methods of these enterprises are different from others'. Under the circumstance of "development of west-china", it is necessary to analyze and discuss the financing situation, financing behavior and financing methods of the enterprises in west-china. I wish the research would be helpful and instructive to the development of enterprises in west-china, the prosperity and the development of west-china.Under the traditional central planning system, Chinese enterprises were not independent legal entities but production units that subordinated to the highly centralized management of government's financial allocation and a small portion of bank loan. Enterprises had no choice in financing their operation, and the corporate financing methods would not be needed in such a system.As the reforms toward a market-oriented economy make forward, enterprises become the subject of the changing market economy. Establishing a modern enterprise govern mechanism is a key element ofthe enterprise reforms in china. The mechanism of "hard financing" for Chinese enterprises has gradually established and the choice of corporate financing methods becomes more and more important. Especially when our country has become a member of WTO, enterprises will face more drastic competition from domestic and foreign market. New corporate financing methods will appear with the development of economy. The environment of financing will become more complex. Therefore, if enterprises in west-china want to win in the future competition, they have to exploit more effective financing methods and choose properfinancing methods to get necessary capital for then- development.The thesis aims to provide the theoretic support and practical instruction for enterprises in west-china to discuss the present financing methods, the problems and reasons in the corporate financing, to learn from contemporary financing theory and models, to choose fit financing methods and to develop and create new financing methods.Guided by the corporate financing theories in china and foreign countries, the thesis attempts to make sane progress hi the corporate financing theories and practices.(1) Based on the analysis of basic situation and characters of enterprises in west-china and the present financing situation and rough environment of enterprises in west-china, the thesis sums up the problems in the corporate financing in westchina and analyses the reasons frominside and outside of enterprises.(2) Accepted the experience of modern corporate financing theories and financing models, the thesis discusses how to choose the financing methods for enterprises of different type and enterprises in different develop stage.(3) Based on the analysis of present situation of enterprises in west-china and the research of foreign corporate financing models and experience, the thesis proposes that the key factor for enterprises to change their financing conception is to establish excellent credit and mutual credit.(4) Based on the factual analysis of corporate financing in west-china, the thesis draws the conclusion that the enterprises in west-china have to join the market to take advantage of the marketable financing methods and increase financing channels.(5) From the above-mentioned analysis, the thesis points out that the corporate governance structure is fundamental to the creation of financing methods, that the development of civilian financing is a feasible strategy to solve the financing problems of enterprises in west-china, and that the development of second-board will provide more opportunities fo...