投资银行优化企业资本结构问题研究

【作者】 文学；

【导师】 伍中信；

【作者基本信息】 湖南大学 ， 会计学， 2003， 硕士

【摘要】 中国企业的资本结构长期以来得不到优化，一个很重要的原因是我国的投资银行在资本市场中没有很好地发挥优化企业资本结构的功能。从我国目前的情况看，国际大型投资银行优化我国企业资本结构的财务运作越来越普遍，运作方式也在不断创新。如何借鉴国际投资银行的财务运作，推动我国投资银行的发展，已成为我国经济发展中一个急迫的问题。 本文共分为五章。第一章对投资银行的定位作了一个简单的综述，并从财务的角度阐述了研究投资银行优化企业资本结构的意义。第二章通过对投资银行进行的财务学理论分析，指出了我国投资银行的未来发展路径。第三章主要是用财权流的观点去研究了投资银行与企业资本结构的关系。同时通过对国际大型投资银行在我国资本运作方式的分析，为我国投资银行业优化企业资本结构提供了宝贵的借鉴。第四章通过对投资银行在企业资本结构优化中的具体运作方式展开深入研究，详细探讨了不良资产、债转股和国有股减持问题。第五章则对资产证券化这一新兴投资银行业务进行了详细研究，最后提出了在我国实施投资银行优化企业资本结构的可行性方式。更多还原

【Abstract】 Capital structure of company has not been optimized for a long time in China. A very important reason is the development of investment bank in China. According to the current major phenomenon. Lying in optimizing capital structure, international investment banks are playing a more and more important role in China. We must make rapid progress in developing investment bank of China in terms of financial operation of international investment banks. It becomes an urgent problem in economic development of China.The thesis consists of five chapters, and it is organized as follows. In chapterl I discuss the status of investment bank in economic development, point out the purpose of studying the investment bank optimizing capital structure of company in the view of finance. In chapter2 I analyze the finance theory of investment bank, point out the future developing method of investment bank of China. In chapter3 I research the relationship between investment bank and capital structure of company from the view of financial rights flowing. I pointed out the important experience that investment bank of China should study according to the analysis of capital operation of international ’ investment bank in China. In charpter4, by analyzing all kinds of financial operations of optimizing capital structure, I make detailed research for debt-for-equity, the non-performing loan and the state-owned shares. In chapters, I research the non-performing loan securitization as a new financial operation in details. At last, some feasible suggestion is given about the application of financial operation of investment bank in optimizing capital structure.更多还原