项目融资理论与应用研究

【作者】 薛桦；

【导师】 董寿昆；

【作者基本信息】 湖南大学 ， 金融学， 2001， 硕士

【摘要】 项目融资发端于上个世纪30年代美国德克萨斯的油田开采业。这种融资方式以“项目导向”、“有限追索”和“风险分担”等特色区别于传统的倚重于借款人公司的资信及债务偿还能力的公司融资方式。 经过几十年的发展，项目融资已自成一套完整的理论和实践体系，成为国际融资的一个重要分支。作为大型工程项目建设开发筹集资金的一种手段，项目融资方式卓有成效并且日趋成熟，因而在国际上受到项目投资人和借款人的欢迎。 随着改革开放政策的实施，我国经济步入了一个持续快速发展的阶段。项目融资方式作为一个全新的概念和融资方式，在我国中长期建设项目尤其是基础设施建设项目中，已逐渐为我们重视和利用。当前我国正在实施西部大开发战略，而项目融资不失为在西部基础建设和资源开发中一种高效的融资方式，因此研究项目融资在我国应用的问题和对策具有很强的现实意义和应用价值。 本文从项目融资的理论和基本特征入手，把握其发展演变的脉络，分析项目融资结构特点及风险防范和风险分担机制，对照其在我国应用的现状，论述影响项目融资在我国应用发展的主要因素，并提出一些解决问题的对策。更多还原

【Abstract】 The Project Financing derived from oil exploitation project in Texas U.S.A. 1930s . This kind of financing is different from those traditional company financing methods which depend on the borrower’s credit status and ability of repay debts by the characteristics of’Project Oriented’ , ’Limited Recourse’ and ’Risk Allocation’ .After several ten years’ development, The Project Financing has got its own completed system of theory and practice. Now the Project Financing is one of the branches of international finance . As a means of financing for the construction of large scale infrastructure projects , the Project Financing is highly effective and is getting consummate therefore it is welcomed by project investors and borrowers.Since the implementation of reforming and opening policies , our country has entered a continual and rapid developing stage . The Project Financing , as a complete new concept and financing method has gradually been thought much of and put into use . Today our country is carrying the strategy of accelerating development of west China , it is undoubted that the Project Financing is one of the high effective financing methods for the infrastructure construction and nature resource exploitation . Thus to research that the problems and countermeasures to the Project Financing applied in our country has a very practical meaning and value for application .This thesis starts with the theory and basic characteristics of Project Financing , traces its track of evolvement, analyses its structure , risk control and risk allocation system , discusses the main factors which restrict its application in our country according to the status in quo of its practice and present some feasible countermeasures .更多还原