中國移動公司融資問題及對策研究
摘要
中國移動在99年從中國電信分離出來后一直面臨激烈的
市場競爭局面，隨著外資的進入和其它電信運營商的出現(xiàn)，中
國移動通信市場的處境將更加艱難。為了保持網絡優(yōu)勢地位，
中國移動必須進一步加大網絡建設能力，增強競爭實力，因此
中國移動需要大量的資金投入。但是由于國家對電信優(yōu)惠政策
的逐步取消，電信資費的多次調整以及金融體制的改革、移動
電信分家增加了債務、資產管理上存在問題等一系列因素使中
國移動原有的融資渠道變窄、融資難度加大，中國移動公司在
融資上出現(xiàn)了較大問題。
針對中國移動出現(xiàn)的問題，本文以分析移動公司的融資歷
史、存在問題、融資環(huán)境、融資現(xiàn)狀、融資需求為出發(fā)點，運
用相關融資理論，逐一剖析了當前移動公司所面臨的可選擇的
若干融資渠道，并提出在目前狀況下中國移動公司為進行融資
所需做的準備工作、融資應采取的新型策略以及對應的融資途
徑及方法，并以西部某移動公司為例進行實例分析，為中國移
動公司解決融資問題提供了一定的幫助。
關鍵詞:移動公司融資環(huán)境融資渠道融資對策
電子科技大學碩士論文
ABSTRACT
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電子科技大學碩士論文
目錄
中文摘要
英文摘要
引言
第一章移動公司融資概論······························……1
夸1.1移動公司簡介·······································……1
夸1·2融資的涵義··········································……2
夸1.3資本結構理論·········，·····························……3
夸1.4移動公司融資的原則······························……3
第二章移動公司融資歷史回顧和存在問題·········……
圣2.1移動公司融資歷史回顧···························……6
薈2.2移動公司面臨的融資問題························……7
一移動公司面臨較強行業(yè)管制···························……7
二.國家優(yōu)惠政策取消和電信資費調整..···················……7
三·收益模式脆弱··········································……7
四·銀行借貸現(xiàn)象嚴重····································……8
五.國際資本市場容童的限制.······························……9
六.偏高的資產負債率····································……10
七.固定資產投資的問題····································……10
八.現(xiàn)有資產管理··········································……10
九.應收帳款等營運資金管理······························……13
十.滯后的管理水平·······································……14
第三章移動公司融資環(huán)境分析························……15
圣3.1融資宏觀環(huán)境·······································……巧
怪3.2融資微觀環(huán)境····································……19
夸3.3融資環(huán)境的優(yōu)劣勢分析比較·····················……19
第四章移動公司融資的前期準備··················……22
圣4.1轉變融資觀念···································……22
電子科技大學碩士論文
圣4.2降低資產負債率······························……23
夸4.3優(yōu)化資本配置·································……24
夸4.4優(yōu)化公司資產結構···························……25
夸4.5加強投資項目的控制···························……26
第五章移動公司融資方式與渠道·····················……27
夸5.1基本融資方式·····················..