China's Small And Medium-sized Sporting Goods Corporate Finance Research

The success of 2008 Beijing Olympic Games has brought lots of good opportunities for the development of Chinese sports commodity enterprises. However, for most of the small and medium sports commodity enterprises, the shortage of capital has become the main obstacle to their development. Capital can be seen as the blood of each enterprise, because it is crucial to the distribution of other resources. It is also the essential premise and support for the running and production of the enterprise. Hence, financing is the first challenge for the enterprises. Problems do exist in the traditional financing channels, then how to solve these problems becomes the urgent question.Against this background, the present thesis studies the financing of small and medium sports commodity enterprises by using documents survey, logic analysis, history research and comparative research, case study and other methods based on the theory of general sized, small and medium sized enterprises financing. Starting from the financing risks, channels, and obstacles, the thesis reveals the present status of Chinese small and medium sports commodity enterprises from the perspectives of internal, external and direct financing; and analyses the financing obstacles in front of such enterprises from the following four aspects:the corporate itself, financial institutions, social credit system and government policy. It also puts forward some solutions for the financing of small and medium sports commodity enterprises, by studying the financing experience of foreign and domestic enterprises, and by analyzing the different financing modes adopted by Li Ning's company in different growing stages.Financing is not the final aim for enterprises' selection of different financing modes. As a matter of fact, the aims lie in overcoming capital difficulty, obtaining the most efficient distribution of resources, achieving the biggest benefits, and improving the management structures. It has to be proposed that the financing of small and medium sports commodity enterprises is restricted by various factors in internal and external environment and systems, thus, it is one of the systemic project with high degree of practicality, especially in modern enterprises. As a result, it is very difficult even impossible to study all of the financing modes and methods completely to make scientific conclusions. The main aim of the present thesis is to open the enterprisers' mind on financing, to enrich and develop financing modes.