Selection of Corporate Financing Methods in the Evolution of China's Credit System

Author: Chen Chunxia
Publisher:
Publish Date: 2004-12-01
Features: This book, excluding the introduction, is divided into 6 chapters. The introduction introduces the research idea and significance of the book, the current research status domestically and internationally, research methods, and the basic framework. Chapter 1, Analysis of Enterprise Financing Theory. First, starting from defining the concept of financing, it analyzes the essence of enterprise financing. Then, it analyzes the fundamental theory of enterprise financing—Marx's financing theory. Next, it introduces the development of Western enterprise financing theory, from traditional to modern enterprise financing theory. Finally, it explores the new enterprise financing theory. Chapter 2, Evaluation of the Credit System Conditions for Enterprise Financing. First, it analyzes the connotation of credit and the credit system. Then, it evaluates the credit system conditions one by one, including the media of enterprise financing—credit forms, the venues of enterprise financing—financial markets, the carriers of enterprise financing—credit instruments, and the intermediaries of enterprise financing—financial institutions. Chapter 3, Changes in China's Credit System and the Development of Enterprise Financing Methods. First, the book analyzes the path and characteristics of China's credit system changes and uses a game theory analysis to examine the changes in the credit system. Next, it explores the support and constraints of the credit system on the development of enterprise financing methods. Chapter 4, Analysis of Costs and Risks in Enterprise Financing Method Selection. After clarifying the goals of enterprise financing, it confirms the financing costs and conducts a quantitative analysis of them. Then, it analyzes enterprise financing risks and risk measurement. Finally, it analyzes financing method selection based on a comparison of costs and risks, including financing method selection under different credit relationships, as well as the choice between market financing and intermediary financing. Chapter 5, Effect Analysis of Enterprise Financing Method Selection. Choosing different financing methods will produce different effects. The macro effect analyzes the relationship between enterprise financing method selection and economic growth, enterprise financing method selection and resource allocation, and enterprise financing method selection and bank-enterprise relations. The micro effect analyzes the relationship between enterprise financing method selection and capital structure optimization, and enterprise financing method selection and governance structure adjustment. Chapter 6, Improving Enterprise Financing Method Selection through Credit System Construction. This chapter studies four aspects of strengthening the credit system construction to improve enterprise financing method selection. That is: constructing an enterprise credit system to enhance enterprise financing ability; deepening the reform of commercial banks to reshape bank-enterprise relations; developing and improving the financial market to perfect the financial market system; and designing and developing credit instruments to enrich the variety of credit instruments.