工业园区融资瓶颈破解途径与治理——以重庆市为例

经济新常态背景下工业园区融资瓶颈制约园区的可持续发展,创新工业园区融资体制与机制十分必要。本文以项目融资成本理论、企业价值理论和公司治理理论为基础,结合重庆市工业园区融资政策与融资现状,分析得出工业园区融资瓶颈的成因在于融资法律主体缺位、社会资本进入存在技术和制度壁垒、融资决策与利益分配缺乏激励约束机制等体制机制障碍。提出建立工业园区融资平台体系和政策保障体系,创新多元化融资控制权选择路径和信用结构,构建合理的投资补偿和有效经营监督等治理机制,为新常态下工业园区推行混合所有制经济的企业治理与融资风险控制提供决策参考。

Under the background of economic new normal, the financing bottleneck of industrial park has seriously restricted the sus- tainable development, so it is necessary to innovate financing system and mechanism of industrial park. According to pro- ject financing cost theory, enterprise value theory and corporate governance theory, based on the financing policy and the situation of industrial park in Chongqing, this paper believes that the causes and mechanism obstacles of the financing bot- tleneck in the industrial park are as follows： legal body of garden financing is vacancy, there is the technical and institu- tional barriers when social capitals want to participate in the garden＇s investment, financing decisions and profit distribution lack incentive constraint mechanism. The paper proposes to establish financing platform system and design financing policy support system of industrial park, innovate selecting path of control right and financing credit structure under the diversi- fied financing system, build a governance mechanism including rational investment compensation and effective management supervision as to provide a reference for the control of enterprise management and financing risk of industrial park in the new normal under mixed ownership.