陕西省JT集团融资模式研究

【作者】 王博；

【导师】 马莉莉；

【作者基本信息】 西北大学 ， 工商管理（专业学位）， 2016， 硕士

【摘要】 高速公路的发展积极地促进国民经济的发展,也影响着各省经济的发展速度。目前我国很多省市都在大力发展高速公路项目。因此在很长一段时期内,高速公路都是我国基础设施项目建设的重点。然而目前高速公路建设方融资渠道单一、市场化程度低,资产负债率普遍偏高,同时,随着银行风险意识加强,高速公路建设债务危机会在一些省份出现,因此,投融资模式的研究创新已经成为我国高速公路发展所要解决的首要问题。本文通过分析陕西省高速公路融资现状并着力剖析陕西省公路交通行业近年发展的投资、债务、收支情况,加与对比其他五省份的高速公路投资运营模式,选取了陕西省交通行业龙头企业的JT集团进行微观透视,对企业的主要财务比率,包括营运能力、盈利能力、偿贷能力以及现金流分析,根据融资风险理论,创新性的结合企业实际数据,提出将未来收益折现化对冲现有风险的融资风险分析,为优化企业融资模式奠定了基石。更多还原

【Abstract】 The development of highway promotes the development of the national economy, but also affects the development speed of economy. Many cities and provinces of China are in the development of highway project. So in a very long period of time, highway is the focus of China’s infrastructure construction projects. However, the highway construction financing channels for a single, Low degree of market, the asset liability ratio is generally high, at the same time, with the strengthening of bank risk awareness, highway construction debt crisis will appear in some provinces, therefore, study on the innovation of financing mode has become the primary problem to solve China’s highway development problem.By analyzing the status of Expressway Financing in Shaanxi province and compared with the highway investment operation mode of other five provinces, with the main financial ratios of JT group, including operating capacity, profitability, ability to repay the loan and cash Flow analysis, combined with the characteristics of enterprises, put forward the mode of optimizing financing.更多还原