中國(guó)上市公司籌資方式的比較及創(chuàng)新

目       錄

引言···························································2

一、融資的基本概念·············································2

二、企業(yè)融資的基本方式·········································2

(一)內(nèi)源融資與外源融資·········································2

(二)直接融資與間接融資·········································3

三、我國(guó)上市公司籌資方式選擇的現(xiàn)狀分析·························3

（一）多種融資方式中首選股權(quán)融資·······························4

（二）第二大選擇就是債券融資···································4

四、中國(guó)上市公司偏好股權(quán)籌資的原因·····························4

(一)融資方式自身原因···········································4

(二)上市公司內(nèi)部原因···········································4

(三)外部市場(chǎng)原因···············································5

五、全球的融資結(jié)構(gòu)中國(guó)上市公司融資創(chuàng)新探索·····················5

六、總結(jié)·······················································5

參考文獻(xiàn)·······················································6

引言

資金對(duì)每個(gè)企業(yè)來說都是稀缺資源，在市場(chǎng)經(jīng)濟(jì)的大環(huán)境下，我國(guó)上市公司的數(shù)量與規(guī)模越來越大，企業(yè)籌資方式日趨多樣化，并衍生了一大批新興金融籌資方式，例如股權(quán)轉(zhuǎn)債、權(quán)證、債權(quán)籌資等，為上市公司融資提供了資金來源保障。同時(shí)在國(guó)家行政金融機(jī)構(gòu)的監(jiān)督管理下，企業(yè)的資本結(jié)構(gòu)也趨于合理，但是以目前的市場(chǎng)環(huán)境來看，上市公司的籌資成本仍然過高，我國(guó)上市公司普遍存在“重股票，輕債券”的思想，其風(fēng)險(xiǎn)也較之于國(guó)外上市企業(yè)資金風(fēng)險(xiǎn)更大。為改變上市公司籌資現(xiàn)狀、降低融資風(fēng)險(xiǎn)，則必須對(duì)現(xiàn)有籌資方式進(jìn)行深化和創(chuàng)新，在原有基礎(chǔ)上開拓新型融資渠道，使其更加符合現(xiàn)代企業(yè)上市的經(jīng)濟(jì)環(huán)境，利于風(fēng)險(xiǎn)控制。本文主要分析了當(dāng)前我國(guó)上市公司主要籌資方式，探討了上市企業(yè)在籌資中存在的主要問題，并對(duì)創(chuàng)新籌資方式提出了幾點(diǎn)建議，以優(yōu)化上市公司的資本結(jié)構(gòu)，降低其融資風(fēng)險(xiǎn)。