LT公司融资管理案例研究
Case Study on LT Company Financing Management
Abstract
With the further optimization of state-owned economic layout, financial institutions
accelerate the innovation of financial services and derive more financial products, which
objectively open up a broad space for the financing of state-owned enterprises in China, but
the rapid development of state-owned enterprises still faces great challenges.After in-depth
analysis of many problems, this thesis decided to LT company ' s financing problems as the
research object, the LT company ' s financing management case study, in order to grasp the
essence of the problem, combined with the objective conditions of market development to
seek solutions and ways.
This thesis analyzes the financing management of LT company by using literature
analysis method, case study method and interview method.By describing the basic situation of
the LT company, the business model and the financial situation, the selected financing mode
and the financing channels, the financing management effect of the LT company is analyzed
from the typical case studies.Through the research, it is found that the problems exist in the
financing process of LT company : Operating activities rely heavily on foreign loans to repay
debts, may lead to financial crisis; infrastructure projects weak liquidity, long recovery cycle
and large scale, financial institutions credit difficulties; in recent years, the total debt has
grown rapidly and rising year by year, but there is no short-term way to reduce the company's
operation and constructive capital turnover.On the basis of systematic analysis of the crux of
problems and the relationship between financing management and capital structure, this
thesis concluded that improve the financing structure to improve the efficiency of funds, and
innovate financing ways to obtain large capital Financial loans, optimizing capital structure,
improving repayment ability and other strategies can provide guidance on financing
management for LT companies to help them better raise funds and solve the problem of
financing difficulties.
Accordingly, this thesis puts forward countermeasures and suggestions for LT company
to better enrich their financing channels and improve their capital structure.Help LT company
to strictly fulfill its social responsibility commitment, and become a local comprehensive
local urban operator with large asset scale, high professional level, large market influence,
giving consideration to social services and its own sustainable development.It provides
theoretical reference for financing management of other state-owned enterprises, and is of
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大连理工大学专业学位硕士学位论文
great significance to promoting the sustainable development of enterprises and maintaining
and appreciation of state-owned assets.
Key Words：Financing management; Case study; State-owned enterprises;Capital
structure
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LT公司融资管理案例研究
目录
摘 要.............................................................................................................................I
Abstract ..............................................................................................................................II
1 绪论.............................................................................................................................. 1
1.1 研究背景与意义................................................................................................ 1
1.1.1 研究背景................................................................................................ 1
1.1.2 研究意义................................................................................................ 1
1.2 案例研究设计.................................................................................................... 2
1.2.1 案例对象选择........................................................................................ 2
1.2.2 研究方法................................................................................................ 2
1.2.3 技术路线................................................................................................ 3
2 案例正文...................................................................................................................... 4
2.1 行业背景及 LT公司概况................................................................................ 4
2.1.1 行业背景................................................................................................ 4
2.1.2 LT公司概况.......................................................................................... 6
2.2 LT公司融资管理现状................................................................................... 10
2.2.1 融资方式.............................................................................................. 10
2.2.2 融资渠道.............................................................................................. 10
2.2.3 融资结构及规模.................................................................................. 11
2.3 典型案例描述................................................................................................. 13
2.3.1 借新还旧的还贷方式.......................................................................... 13
2.3.2 被银行排斥的低收益项目.................................................................. 14
2.3.3 艰难的降负之路.................................................................................. 16
3 案例分析.................................................................................................................... 18
3.1 理论基础......................................................................................................... 18
3.1.1 现代资本结构理论.............................................................................. 18
3.1.2 期限匹配理论...................................................................................... 19
3.2 案例问题识别................................................................................................. 20
3.2.1 以贷还贷资金使用成本过高.............................................................. 20
3.2.2 低收益项目金融机构授信难.............................................................. 21
3.2.3 资产负债率高偿债压力大.................................................................. 21
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