發(fā)布時(shí)間：2019-02-08 17:19

【摘要】：長(zhǎng)期以來(lái),受傳統(tǒng)財(cái)務(wù)理論的影響,很多學(xué)者更傾向于將企業(yè)籌資風(fēng)險(xiǎn)理解為“是由于負(fù)債籌資而給企業(yè)財(cái)務(wù)狀況帶來(lái)的不確定性”,導(dǎo)致很多企業(yè)在籌資時(shí),把注意力全放在債權(quán)性籌資風(fēng)險(xiǎn)上,而完全忽視了權(quán)益性籌資風(fēng)險(xiǎn)的存在。事實(shí)上,自從我國(guó)加入世貿(mào)組織以后,企業(yè)為謀求多元化發(fā)展,越來(lái)越多的企業(yè)偏好于權(quán)益性籌資,權(quán)益性籌資風(fēng)險(xiǎn)對(duì)企業(yè)財(cái)務(wù)狀況的影響也日趨明顯,所以科學(xué)地進(jìn)行權(quán)益性籌資風(fēng)險(xiǎn)的管理,是企業(yè)亟待解決的重要課題。本文從我國(guó)企業(yè)權(quán)益性籌資現(xiàn)狀出發(fā),結(jié)合國(guó)內(nèi)外學(xué)者的觀點(diǎn),對(duì)權(quán)益性籌資風(fēng)險(xiǎn)管理中的權(quán)益性籌資、籌資風(fēng)險(xiǎn)以及風(fēng)險(xiǎn)管理的相關(guān)理論進(jìn)行深入的闡釋,分析出導(dǎo)致企業(yè)權(quán)益性籌資風(fēng)險(xiǎn)產(chǎn)生的內(nèi)外因素,并對(duì)其內(nèi)外因素進(jìn)行了科學(xué)的、全面的成因分析,進(jìn)而利用因子分析法建立風(fēng)險(xiǎn)評(píng)估模型去評(píng)估企業(yè)的權(quán)益性籌資風(fēng)險(xiǎn)。在這過(guò)程中,特選取8種不同行業(yè)兼具代表性的企業(yè)對(duì)權(quán)益性籌資風(fēng)險(xiǎn)評(píng)估模型進(jìn)行驗(yàn)證,證實(shí)權(quán)益性籌資風(fēng)險(xiǎn)評(píng)估模型的實(shí)用性。最后從權(quán)益性籌資風(fēng)險(xiǎn)的防范技術(shù)、防范制度和管理人員的綜合素質(zhì)方面提出了有效地防控企業(yè)權(quán)益性籌資風(fēng)險(xiǎn)的措施,為企業(yè)有效的、合理的規(guī)避權(quán)益性籌資風(fēng)險(xiǎn)提供了較為科學(xué)的依據(jù)。本文主要是從企業(yè)權(quán)益性籌資風(fēng)險(xiǎn)的識(shí)別、評(píng)估與防控三方面入手,對(duì)企業(yè)權(quán)益性籌資風(fēng)險(xiǎn)管理進(jìn)行了深入的研究,試圖彌補(bǔ)傳統(tǒng)籌資風(fēng)險(xiǎn)理論和權(quán)益性籌資風(fēng)險(xiǎn)評(píng)估方法的缺陷,為企業(yè)有效地進(jìn)行權(quán)益性籌資風(fēng)險(xiǎn)的科學(xué)管理提供了理論依據(jù)和實(shí)踐基礎(chǔ)。
[Abstract]:For a long time, under the influence of the traditional financial theory, many scholars tend to interpret the enterprise financing risk as "the uncertainty of the enterprise's financial situation caused by the debt financing", which leads to many enterprises raising funds. Attention is paid to the risk of debt financing, but the existence of equity financing risk is completely ignored. In fact, since China's accession to the WTO, more and more enterprises have preferred equity financing in order to seek diversified development, and the impact of equity financing risks on the financial situation of enterprises has become increasingly obvious. Therefore, scientific management of equity-raising risk is an important subject to be solved urgently. Based on the current situation of enterprise equity financing in China and the views of domestic and foreign scholars, this paper gives a deep explanation of equity financing, financing risk and related theories of risk management in equity financing risk management. This paper analyzes the internal and external factors that lead to the enterprise equity financing risk, and makes a scientific and comprehensive analysis of the causes of the internal and external factors, and then establishes a risk assessment model by factor analysis to evaluate the equity financing risk of the enterprise. In this process, eight representative enterprises in different industries are selected to validate the equity financing risk assessment model to verify the practicability of equity financing risk assessment model. Finally, the paper puts forward some effective measures to prevent and control the equity financing risk of enterprises from the aspects of prevention technology, prevention system and comprehensive quality of managers, which are effective for enterprises. Reasonable evasion of equity financing risk provides a more scientific basis. This paper mainly starts with the identification, evaluation and prevention and control of the enterprise equity financing risk, and makes a deep research on the enterprise equity financing risk management. This paper attempts to remedy the defects of the traditional theory of financing risk and the evaluation method of equity financing risk, which provides a theoretical basis and a practical basis for the scientific management of equity financing risk.
【學(xué)位授予單位】：黑龍江八一農(nóng)墾大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：F279.2;F275

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