我国民营企业是社会主义市场经济的重要组成部分，具有机制灵活、转型快 的特点。在不断发展壮大的过程中，与国有企业相比较，我国的民营企业缺少金 融系统的良好支撑，在成长壮大的过程中深受资金等问题的困扰。对于处于成长 期的高新技术小型民营企业 STW 而言，企业自身的经营性现金流来源和管理模 式难以满足发展需求，因此于 2016 年引进了 DZ 公司的战略融资，旨在提升企 业的管理水平和资本实力，促进企业创新，争取进一步的发展壮大。 本文通过对融资基本理论的研究，从民营企业融资的有效需求角度进行分析, 通过分析 STW 企业的内部环境、外部环境、以及企业 SWOT 的分析，提出了实 现 STW 公司企业整体战略目标的有效途径。通过对 STW 企业战略融资协议执 行期中数据调查、实地考察、投资后的不同人员信息反馈等方面研究，分析了企 业在战略融资期间公司财务指标、管理水平、企业文化和企业形象的变化。论文 还对战略融资可能带来的风险进行了成因分析并提出了相应地应对方案。 本文旨在通过对 STW 公司引进 DZ 公司战略投资过程中出现的问题进行综 合分析和研究，阐述小型民营企业引进战略融资方面的风险和机会。通过总结战 略融资中的相关协议条款执行过程中的利与弊，为在中国经济快速发展进程中企 业转型和发展提供借鉴经验和参考依据。 关键词， 民营企业；战略管理；融资管理；对赌协议II Abstract China's private enterprises are an important part of the socialist market economy. They are characterized by flexible mechanisms and rapid transformation. In the process of continuous development and growth, compared with state-owned enterprises, China's private enterprises lack good support from the financial system and are deeply troubled by financing problems. For the high-tech small private STW enterprises in the growth stage, the company's own operating cash flow sources and management models are difficult to meet the development needs. Therefore, in 2016, DZ's gambling financing was introduced to improve the management of the company. Promote enterprise innovation and strive for greater profits. Through the research on the basic theory of financing, this paper analyzes the effective demand of private enterprise financing. By analyzing the internal environment of the enterprise, the external environment, and the SWOT analysis of the enterprise, the overall strategic goal of STW is realized. Through the case study of the enterprise financing, the data investigation during the execution period of the gambling agreement, the field investigation, and the information feedback after the investment, the paper analyzes the changes in the company's financial indicators and management, the corporate culture and corporate image during the gambling period, and brings about The risk is analyzed and a corresponding solution is proposed. This paper aims to comprehensively analyze and study the advantages and disadvantages of STW in the process of investment management in the process of introducing DZ company, and explain the risks and opportunities in the introduction of investment management in small private enterprises. Advantages and disadvantages provide reference and reference for enterprise transformation and development in the process of China's rapid economic development. Keywords: private enterprise; financing; financing management; bet agreementIII 目 录 摘要 I ABSTRACT.................................................................................................................II 目 录 III 第 1 章 绪 论.........................................................................................................1 1.1 选题背景..............................................................................................................1 1.2 研究的目的和意义..............................................................................................2 1.3 国内研究现状......................................................................................................3 1.4 研究内容及研究方法..........................................................................................4 第 2 章 相关理论基础 ..........................................................................................6 2.1 融资与融资管理..................................................................................................6 2.2 融资的估值计算方法..........................................................................................9 2.3 融资的风险管控方法 .......................................................................................12 2.4 SWOT 分析法 ...................................................................................................15 第 3 章 STW 公司竞争的 SWOT 分析.............................................................18 3.1 STW 公司简介 ..................................................................................................18 3.2 优势分析............................................................................................................18 3.3 劣势分析 ...........................................................................................................19 3.4 机遇 ...................................................................................................................21 3.5 威胁....................................................................................................................22 3.6 SWOT 战略 .......................................................................................................22 第 4 章 STW 公司融资方式选择.......................................................................25 4.1STW 公司选择融资方案考虑的因素 ...............................................................25 4.2 STW 公司引进 DZ 公司融资的需求分析 .......................................................26 4.3 STW 融资方式的确定 ......................................................................................28 第 5 章 STW 公司战略融资...............................................................................29 5.1 融资战略............................................................................................................29 5.2 战略融资方案 ...................................................................................................30IV 第 6 章 STW 公司融资效果分析.......................................................................34 6.1STW 公司管理模式的变化 ...............................................................................34 6.2STW 公司财务指标的变化 ...............................................................................34 6.3STW 公司文化的变化 .......................................................................................40 6.4STW 公司形象的变化 .......................................................................................41 6.5 STW 经营策略的变化 ......................................................................................41 第 7 章 结论与展望 ............................................................................................47 7.1 结论....................................................................................................................47 7.2 研究展望............................................................................................................48