| Since the reform and opening up, China’s private enterprises ushered in rapid development, along with the development of private enterprises in the market economy is critical to China’s economic development and economic restructuring. However, there are a lot of defects due to private enterprise in the development process, as well as the historical legacy of institutional arrangements to private enterprises has brought a lot of obstacles to development. Problem of financing is one of the more prominent issues, but also restricting private enterprise is the rapid and healthy development of the key problems. Although in recent years as private enterprises continue to increase social and economic contribution, both theoretical and government sectors for private enterprise to.solve the problem of financing ideas, but for now, the financing of private enterprises have not been satisfactory solution, so "temperature that running" the incident shortly to study the analysis of the financing of private enterprises still is particularly necessary.With the advance of the process of economic globalization and market competition intensifying, the financing of large-scale private enterprise has become the world’s long-term issues, understanding of the status and role of large-scale private enterprise, whether it is in the developed economies, or other developing countries, and then from the beginning of very great importance to slowly attach importance to the process. The presence of many large-scale private enterprise is basically a common phenomenon in the process of economic development of each country, is an inevitable by-product of economic development, it is as an enhanced competitive force in the market to ensure the stable operation of the economy and to achieve full employment necessary premise and Conditions. In highly developed economies of the developed countries or in developing countries, the role of large private enterprises in the national economy is growing, and becoming the economic pillar, rapid and healthy development of large-scale private enterprise, to the national economy continued growth provides a strong barrier. Large private enterprises, the process of debt financing, which involves more than the enterprise itself, but also the enterprise’s external environment factors. For example, the market system, the national macro-economic environment, the financial system, the country’s macroeconomic policy, social credit system, guarantee system, business philosophy, and the state financial management system construction. After30years of building a market economy, China’s financial system is not yet set up a business, so, in the current situation, the government of the country in this regard vigorously perfect. Since China’s national conditions of China’s large-scale private enterprise financing is not smooth, and it is difficult to have a new development and breakthroughs. For these things, our government and all sectors of the community to give a high degree of attention to the financing problems of large-scale private enterprise, through the introduction of appropriate laws and regulations, and a series of financial reforms, hoping to improve the debt financing of large-scale private enterprise status. However, from the view of the practice of recent years, large private corporate debt financing system building has yet to be further improved, and the corresponding services are not perfect. In summary, we are able to find very worthwhile for us to study and learn the advanced Western countries with economies in construction debt financing for large-scale private enterprise financial system, and then combined with the debt situation of China’s large-scale private enterprise of China’s large-scale private financing mode to explore and study.In this paper is given from the point of view of the enterprise to the solution of the problem of financing large-scale private enterprise. A company should strive to enhance their own capacity as well as the construction of the internal system, this can A company listed financing to lay a good condition, and solve the problem A corporate finance. In this paper, analysis and research through debt financing model for large-scale private enterprise, and corporate A case analysis and research, analysis and research A corporate financing difficulties; Second, the reality in line with China financing model, A company should finance through financial leasing business and enterprise listed and given A corresponding recommendations of the enterprises to develop financing. Through this study, it is possible to carry out the proposed A corporate financing model of constructive, also able to provide a reference of some large-scale private financing model selection and reference.This paper is divided into six parts, the main content is as follows:The first part, the introduction of this paper. Describe the background and significance of the research, the research purpose, the research ideas, the research methods and the research methods.The second part,overview of the theory. Review of domestic and foreign corporate finance literature; finance theory to describe the main financing pecking order theory and financing agency cost theory two; and finance theory private enterprises choose financing model analysis; in the above based on the analysis of the theoretical foundation of this writing.The third part, the mode of financing of private enterprises, cause analysis of the status and financing difficulties. Define the concept of large-scale private enterprise; analysis and the mode of financing of private enterprises, and is divided into endogenous financing and external financing, direct financing and indirect financing, equity financing and debt financing for domestic finance and foreign financing these four analysis; then on the financing of private enterprises in the status quo; Finally, private enterprises financing difficulties described from both external and internal.Part firth part, A private corporate debt financing mode analysis. A private enterprise group overview as well as analysis of industry characteristics; then A corporate debt financing the status quo as well as the village ye, and made the financing problems described.The fifth part, the selection and implementation of the proposed financing model. A corporate debt financing mode selection for the financing and leasing business and financing models for financing through the listing:First, the financing and leasing business. For financial leasing business, A company should make great efforts to grasp. Its financing and leasing business of the credit requirements of the enterprise is not very high, which is mainly between and financing items combined, and can meet the current financial situation of the A Company. Conducting finance lease financing vigorously enhance the enterprise’s production A technological advances, but also be able to get the government policies hysteresis. Lease financing will not be reflected in the liabilities of corporate financial statements, therefore, would not have A corporate credit situation cause any impact, while operating comparison fast, you can save a lot of manpower and resources; and second, by listing financing. A company should be through the analysis of the enterprise are out of the internal and external environment to continuously improve its production operation processes and technology, and constantly improve enterprise management innovation ability, and so be able to enhance the production efficiency, and so be able to make products in the community more competitive, and ultimately enhance the core competitiveness of enterprises. In this process, the enterprise managers A must constantly enhance management knowledge and ability to constantly improve enterprise management system and mechanism, and the good business development strategy and planning, with good strategic vision, constant insight market opportunity. A company to keep the change in the mode of financing to meet the capital requirements in the enterprise development, and improve capital efficiency, utility maximization, in order to make business development more dynamic. Then proposed to carry out some of the enterprises of the two financing modes of construction, mainly including the following aspects:First, to strengthen the the A internal environment construction.(1) improve the internal management system;(2) to enhance the enforcement of the internal control system;(3) to enhance the management of enterprise A;(4) strengthening human resource management. Second, a sound financial system, the establishment of a modern financial system, which allows banks to significantly reduce enterprise transaction costs due to information asymmetry. In the modern enterprise management process, the establishment of the financial system is a very important content. The establishment of a modern financial management system to enhance A corporate financing capacity, provide important protection for corporate financing. A company in the financial system was established at the same time, we must continue to improve accounting transparency, this can reduce the information asymmetry between banks and enterprises, thereby reducing the transaction costs incurred by the banks due to information asymmetry. Finally, to improve the A enterprises to strengthen the scientific and technological innovation and improve the competitiveness of their products. Enhance the technological innovation capability. Expand scientific and technological exchanges and cooperation, speed up innovation, strengthen energy saving, the adjustment of product structure, and make efforts to resolve the impact of stable production quality, environmental protection, security, and comprehensive utilization of resources, making full use of the relevant policies, and firmly take content development. Innovation of products from the following aspects to carry out. First, to comply with consumer demand for product innovation, to be able to allow the customer to accept the Company’s products; Secondly, A internal, to constantly strengthen technical innovation to break through the traditional product packaging and functionality, and to nurture and cultivate brand.A company should use the direct financing channels, to walk on two legs, financing and leasing business and public financing. Direct financing channels open, is bound to ease the overall A corporate financing pressure, which will have a huge role to reduce the financing of large-scale private enterprise credit status quo.Part Ⅵ, Conclusion. Illustrate the problem based on each of the proposed improved methods and measures targeted final draw some conclusions and regularity reasonable proposals to change the situation of the current financing structure of a single, higher financing costs of A Company.The paper first reviews the existing research literature; then define the concept of large-scale private enterprise and related financing theory, and the face of private enterprises from the mode of financing of private enterprises, the financing status quo as well as the financing predicament causes tripartite financing line described; then introduced A overview of private enterprise group, the Financial Situation and financing status of private enterprises to the angle of the case studies carried out in-depth analysis, and then summarize the causes of the problem, and finally put forward a concrete way to solve the problem.The main contribution of this paper is:financing environment and the status quo of China’s large-scale private enterprise as the research object and then to A Company, combined with the company’s actual financing conditions and financing environment, the final proposed A enterprise financing and leasing business listing financing, and make recommendations accordingly. |
PDF Full Text Request