【作者】 潘（合艹）；

【导师】 邢建国；

【作者基本信息】 苏州大学 ， 世界经济， 2002， 硕士

【摘要】 传统意义上的企业证券市场融资，是企业通过其证券市场的上市而获得货币资本的筹集并取得货币化资本收益。本文通过对当前国际及国内证券市场的产生、发展进行全面分析后，指出随着全球经济一体化的不断深入，国际证券市场的融资已从单纯的货币资本筹集发展为各种资本要素的全球化配置。从企业原来意义上的货币化资本融资收益的基础上，创新地提出了融资具有的非货币化收益概念。即国际证券市场融资的综合收益理论。同时构建了融资综合收益理论模型，并对该模型进行二维向量分析，通过对二维向量的模和斜率的分析，揭示了企业融资综合收益模型的融资目标函数中各子目标函数权重对其贡献的大小。进而引导出我国企业参与国际证券市场融资获得综合收益的理论依据及各种约束条件。为中国企业参与国际证券市场融资决策提出了如何获得融资的非货币化收益政策性建议，这些建议具有较强的现实指导意义。更多还原

【Abstract】 Traditionally,enterprise securities market financing means obtaining currency capital collection and currency capital profits by being listed in securities markets. This paper points out that international securities market financing has changed from the pure currency capital collection to global distribution of various resources through fully analyzing international and domestic securities market’s foundation and development with the global economic integration. On the basis of enterprise original currency capital financing,the paper creatively raises out non-currency profit concepts in financing,builds up a financing synthetic profit model and analyzes this model with two-dimensional vector. The paper brings to light the value of the different sub-objectives contributing in the function of financial synthetic objective in a financial synthetic profit model through analyzing the volumes and slopes of the two-dimensional vector. The theoretical basis of the synthetic profits of enterprises participating international securities market financing has been brought out. It raises out suggestion on policy that how China’s enterprises obtain non-currency financial profits in participating in international securities markets. It has great practical significance.更多还原