Dissertation > Excellent graduate degree dissertation topics show

Research of YH Communications, Inc. Financing Program Based on the Optimization of Capital Structure

Author: WangPeng
Tutor: ZhangYuMing
School: Shandong University
Course: Business Administration
Keywords: Capital Structure Debt Financing Equity financing High-tech Enterprises
CLC: F626
Type: Master's thesis
Year: 2012
Downloads: 205
Quote: 0
Read: Download Dissertation


Since the international financial crisis, the problem of inflation in China continued. The consumer price index rising. In the face of economic overheating situation, The Chinese government repeatedly raised bank deposit reserve ratio and deposit and loan interest rate, reduce the money supply to restrain domestic overheating investment behavior since2010, in order to realize the economic "soft landing". In the macroeconomic environment effecting, enterprises indirect financing is difficult, due to a shortage of funds and bankruptcy situation appears. Domestic small and medium-sized high-tech enterprises are facing problems is how to give full play to its own technology, technology, industry dominant position, reasonable design of financing plan, solve the problem of shortage of funds, right through and maximize the benefit of enterprise.This article in the analysis of the capital structure theory, with YH Communication Company Limited (hereinafter referred to as" YH company") as the research object, by reference to various types of literature, comprehensive analysis of the existing situation of financing and capital structure capital structure problem, through the use of case analysis and actual investigation method and other effective methods, show that YH company capital unreasonable structure caused by operating income and reduce agency cost, financial crisis and the bankrupt risk high. Because YH company relies on indirect financing through banks, in the face of macroscopical policy tightening situation, financial cost increased, so leads to the unreasonable structure of capital。This article systematically analyzes the problems and risks of the YH company capital structure, and points out three main reasons:①because the industry needs to advance to customers of huge amounts of money, YH company was forced to borrow heavily;②he company as" asset light" features without physical asset mortgage, YH company’s financial cost by means of external guarantee institutions continue to rise;③lack of patency of the equity financing channel, YH company had to rely on indirect banking finance. Through summing up the causes of the problems, the author unifies the domestic and foreign advanced capital structure and operation theory and successful case of financing for the enterprise, constructed a complete set of financing plan, implementation of the YH company’s existing capital structure optimization. The scheme that YH company should actively to seek listing on the GEM companies IPO financing, through capital market financing road, short-term inside the introduction of risk capital, strive for policy financing, strengthening internal financing, debt financing using liquid assets combination of financing plan, in order to reduce the current financial crisis and the risk of bankruptcy. The scheme for small and medium-sized high-tech enterprises especially is in high speed to increase level of enterprises in the optimization of capital structure and financing to provide effective reference.

Related Dissertations

  1. The Research on the Performance Results Application of Zhaoqing Power Supply Bureau,F272.92
  2. Financing Behaviors of Sina Microblogging in View of Risks,F49
  3. A Study on the Policies of Accelerating Education Equity in Brazil,G577.7
  4. Innovative chemical companies,the major risk analysis of continuous innovation and responses,F426.7
  5. Innovative biopharmaceutical companies a significant risk of dynamic analysis of continuous innovation and response measures,F273.1
  6. The Research on Relationship between Capital Structure and Enterprise Value in Listed Companies of Construction Industry,F426.92
  7. The Empirical Research of the Important Factors of the Financial Risks of Chinese A-share Construction Enterprises Market,F426.92
  8. Ideological Education and the Core Competitiveness of Private Enterprises,D64
  9. The Research on Capital Market Financing of Private Universities in China,G648.7
  10. Research on Improving the Mentoring Program in High-tech Enterprises,F276.44
  11. Safety Training System of Mine Enterprise and Training Effectiveness Evaluation Research,TD791
  12. Project Financing in Tourism Resources Development Application,F283
  13. Electric Power Construction Construction Management,TM73
  14. Research on Influence of Information Disclosure on Financing Constraints,F224
  15. Study on the Incentive Factors & Mechanism in Medium and Small-sized Technology-based Enterprises,F276.44;F224
  16. Study of the Cost Control in Coal Enterprise Based on TOC,F406.72
  17. Research on Risk Evalution of Coal Enterprises’ Diversified Management,F426.21
  18. Research on risk aversion high-tech SMEs,F276.44
  19. Research on Financing of Small and Medium-siaed Enterprise in the West of China,F276.3
  20. Chongqing Hi-tech Industrial Competitiveness,F276.44
  21. A Study on Financing Service of Technology Business Incubators,F276.44

CLC: > Economic > Posts and Telecommunications economic > Telecommunications > Telecommunications business organization and management
© 2012 www.DissertationTopic.Net  Mobile