直接债务融资在A公司的应用

Application of Direct Debt Financing in A Company

本文以A公司为例,通过对A公司基本情况及主营业务特点的分析,结合其财务情况及现有融资模式,得出了A公司各板块产业规模发展迅速,营业收入呈逐年增长态势,对流动资金的资金需求不断扩大,拟通过债务融资对流动资金进行补充,根据目前国内金融市场的基本情况,A公司可行的债务融资方式主要包括银行贷款、信托贷款、发行债券以及融资租赁。为了提高决策效率,增加企业融资决策的准确性,帮助A公司综合权衡各种影响因素,对上述各种债务融资方式进行合理选择,本文构建了基于AHP的A公司债务融资量化决策模型。通过AHP决策模型,其四种可行的债务融资方式的排序为:发行债券〉银行贷款〉信托贷款〉融资租赁,最符合A公司目前债务融资需求的融资方式是发行债券。

Taking A company for example, through the analysis of basic situation of A Company and the main business characteristics, combined with its financial situation and the existing financing model, this paper obtained that all sectors of industrial scale of A company had a rapid development, the operating income increased year by year, which makes the funding needs for working capital continues to expand, and A company wanted to supplement the working capital by debt financing. According to the basic situation of the domestic financial market, the viable debt financing ways for A company include bank loans, trust loans, bonds and finance leases. In order to improve decision-making efficiency, increase the accuracy of corporate financing decisions, help A company to weigh all factors, and reasonably chose the above debt financing ways, this paper constructs A company debt financing decision model based on AHP quantify. By AHP decision model, the order of four possible debt financing ways is： bonds〉 bank loans〉 trust loans〉 financial leasing, and the best financing way of A company is bonds.