The Analysis Of The Causes And Effects Of G Company Issuing Short-term Bond

With the continuous development of financial markets,China’s bond market bonds issued enterprises,whether in the number of enterprises or in the size of corporate bonds are constantly increasing.Corporate financing can be divided into direct financing and indirect financing.Because of the disadvantages of indirect financing,such as high issue cost and complicated issuing procedure,more and more enterprises begin to pay attention to other financing methods besides indirect financing,short-term financing bonds came into being.Short-term financing bonds refer to non-financial enterprises with legal personality in the territory of the People’s Republic of China,which are issued in accordance with the conditions and procedures issued by the Measures for the Administration of Debt Financing of Non-financial Enterprises in the Inter-bank Bond Market,the securities issued in the inter-bank bond market,the agreed maturity is one year.With the continuous development of the economy and the continuous improvement of the degree of marketization,short-term financing bonds as a new way of financing has been widespread concern.By the end of 2015,a total of 1001 enterprises in the inter-bank bond market issued 324.23 billion yuan of short-term financing bonds,the issuance of enterprises increased by 18.18%compared with 2014,found that the size increase of 50.70%compared to 2014,short term financing bonds have become an important way of direct financing of enterprises.Short term financing bonds can improve the efficiency of enterprise financing,reduce the financing costs of enterprises,and provide sufficient financial support for the development of enterprises.This paper is divided into five parts.Based on the case of short-term financing bonds issued by G Company,this paper analyzes the problems that should be paid attention to in the process of issuing short-term financing bonds and puts forward corresponding suggestions.The first part,first of all,put forward the research background and significance,followed by the introduction of domestic and foreign scholars on short-term financing bonds related research results,and finally pointed out the research ideas and innovations.The second part elaborates the basic theory of short-term financing bonds and the theoretical basis of MM theory,optimal order financing theory,signal transfer theory and portfolio theory.The third part introduces the basic situation of G Company and the situation of short-term financing bonds issued by G Company,and analyzes the motivations of G Company’s short-term financing bonds.The fourth part analyzes the effect of short-term financing bills from G Company in terms of financial effect,management effect and social impact.The fifth part summarizes the experience of G company’s successful issuance of short-term financing bills,and then puts forward the experience of the short-term financing bonds for general enterprises according to G’s success stories.The last part of this paper is to summarize and summarize the whole article,and make a prospect for the future development of short-term financing bills and point out the shortcomings of this paper.The innovation of this paper lies in the analysis of the reasons for the issuance of short-term financing bills and the effect of issuing short-term financing bonds by the actual case of G Company issuing short-term financing bonds.Elaborated the enterprises to issue short-term financing bills should pay attention to matters for other enterprises to issue short-term financing bills to provide a successful case can learn from.At present,the research on short-term financing bonds is mainly focused on the theoretical research of short-term financing bonds,and there is little research on the actual situation of enterprises.The development of short-term financing bonds provides enterprises with a new way of financing,which will be favored by more and more enterprises.