Paper information retrieval and analysis 1. The title of my undergraduate thesis is "Research on Project Financing in China under the Financial Storm", which belongs to the economic and financial category. The research on project financing is mainly aimed at China.
Affected by the subprime mortgage crisis in the United States, the depreciation of the dollar, and the rise in international oil and food prices, the world economic growth rate dropped significantly in 2008.
In the form of globalization of economic development, China's project financing has also encountered unprecedented difficulties. As an effective form of utilizing foreign capital, how to seek a new way out in the environment of financial turmoil? The development of project financing in China is still in the primary stage. How to promote its application and development as soon as possible? I will use my professional knowledge, combine the Olympic Games and the World Expo, and analyze and solve these problems by comparing successful financing examples in Europe, America, Japan, Southeast Asia and other countries.
This paper uses the methods of literature research, social (market) investigation, consulting newspapers and books and surfing the Internet to find and analyze information and obtain relevant information.
Therefore, the core content of retrieval is an overview of project financing and its organizational structure; The basic situation and development of project financing in China: how to innovate in policies, preferences and cooperation methods to attract all parties; The required literature types are basic theory and practical case studies, which are generally concentrated in periodical full-text databases, important newspapers full-text databases and Wan Fang data resources, and the time range generally rises from theory to practice. In order to grasp the dynamics or solve a problem, the retrieval time range is determined according to the specific situation.
Second, the retrieval process 1, the choice of information retrieval tools, information retrieval, can start from the following aspects: (1) library books and periodicals collection query, borrowing related books and periodicals; (2) Electronic resource query, including periodical full-text database, important newspaper full-text database, Wan Fang data resources, etc. (3) Instruct the teacher to help us, and the teacher will provide us with relevant books and electronic materials according to our specific situation; (4) In some cases, I will also query on Baidu, Google and other web pages, but the information obtained is not authoritative enough, so I don't use this method.
Generally speaking, I use the resources of the school library for information retrieval.
In information retrieval, I mainly use electronic resource query, especially periodical full-text database.
2. Determining the retrieval method When using the database to retrieve literature information, we mainly use various indexes of retrieval tools. Generally speaking, each retrieval tool provides several retrieval methods, which can be summarized as: classification method, subject method, author method, title method, numbering method and other methods.
I mainly use classification and subject method.
After entering the library of University of Shanghai for Science and Technology, select the full-text database of China periodicals, and select "economic category" according to classification in retrieval navigation; If there is a time limit, it is set in the retrieval period. The retrieval items generally choose topics or keywords, and the keywords in the topics are input in the retrieval words, which is the main content of the research. According to my topic, I will input "project financing", "financing case" and "project financing innovation" in the search term respectively to search.
You can also conduct an advanced search here, select or "Not included" after the search results, and enter a search term for a second search, such as the first search term "project financing", select "and" and enter the second search term "project financing in China".
The retrieved records can be sorted by time or relevance. Generally speaking, I choose relevance, which can improve the accuracy of retrieval.
Similar to the periodical database, Wan Fang data resources are generally queried in the full-text database of Chinese dissertations. You can browse by database classification, select dissertations, select economics, science, education and sports by classification, and then enter search words and search words to start searching.
3. Choose a retrieval method among various literature retrieval methods. I mainly use backward retrieval method and backtracking method to find the literature from near to far year by year, so that even if I have mastered the latest development trends, I can use the references attached to the literature to find other documents, so that I can find a lot of relevant literature information.
4. Information processing: sort out the obtained retrieval results, screen out the relevant literature information that meets the theme requirements, and download and save it.
Select valid information in browsers such as CAJ and PDF to edit text and copy graphics.
Finally, the obtained information is sorted and classified.
Three. Review of retrieval materials Through the school library, I have retrieved 50 articles (including 2 in English), 6 dissertations and borrowed 5 books. Now, comment on some articles: 1, about project financing, by Chen Jing (Shanghai University Law School), from Modern Business (the core journal of China). This paper briefly introduces the characteristics and characteristics of project financing. Project financing refers to the project company established by the project sponsor for the financing and operation of the project. The project company undertakes the loan, takes the cash flow and income of the project company as the repayment source, and takes the assets or rights and interests of the project as collateral to obtain the loan mode with no recourse or limited recourse.
After reading this article, I understand the types and characteristics of project financing and its comparison with corporate financing. Project financing is conducive to raising a large amount of funds, and the financing scale of the raised funds can be several times, dozens of times, or even hundreds of times higher than the ability of the project sponsors to raise funds themselves.
The fundamental reason why project financing can produce such a huge financing capacity lies in the huge cash flow generated after the project is completed and operated. After cost-benefit analysis, the cash flow will be greater than the initial loan cost.
Project financing is also conducive to the construction of infrastructure projects, to the rational arrangement of limited construction funds by the government, and to reducing government risks.
2. Research on the Government Guarantee Value of Infrastructure Project Financing, Wang Le, Guo Ju and Sun Yan (School of Management, Xi Jiaotong University), from the Statistics and Information Forum (CSSCI). Based on the idea of contingent liabilities, this paper studies the government guarantee behavior in infrastructure project financing, establishes a real option-based government guarantee value model for infrastructure projects, and measures the influence of the change rate, expected rate of return and guarantee degree of infrastructure projects on the government guarantee value.
The government guarantee model shows that the information asymmetry of government guarantee leads to the inconsistency between government and non-government investors in the pricing of infrastructure projects.
Through this article, I understand that the government's guarantee for infrastructure projects is a kind of government behavior that the government promises to provide guarantee for the risks faced by non-government investors (domestic and foreign consortia, companies and individuals) in the process of financing and investing in infrastructure projects.
The government guarantee part bears the risks faced by infrastructure projects in financing, construction and operation management, which is conducive to attracting funds and technology from all walks of life to invest in infrastructure projects, improving the smooth completion of projects, achieving specific social value goals of projects, and at the same time bearing the pressure on government finance caused by possible compensation in the future.
3. Zhong Lu (harbin university of science and technology), the author of "Analysis of BOT Financing Mode and ABS Financing Mode", is from science and technology management. According to the international project financing modes in recent decades-BOT financing mode and ABS financing mode, combined with the actual situation of our country, this paper makes a detailed comparative analysis through specific examples, and points out that the two modes have their own advantages in infrastructure financing.
After reading this article, I think BOT and ABS, as two different ways of project financing, have their own advantages in infrastructure financing and should be used flexibly. We should not emphasize one way one-sidedly, but should distinguish the specific situations in different stages and choose one of them.
We should not only continue to vigorously develop BOT mode, but also actively explore the application of ABS mode, so as not to miss the good momentum of rapid development of ABS in the world.
4. The role of financial investment and financing in urban infrastructure construction, by Zhou Milla and Gan Wencheng, from Price and Market. This paper introduces the operation mode, financing channels and operation management of financial investment and financing system in urban infrastructure construction, and expounds that it is a very effective, feasible and necessary choice for financial investment and financing system to participate in urban infrastructure construction.
Through the article, I understand that the use of financial investment and financing for urban infrastructure construction is not only an important means to effectively supplement the shortage of financial budget, increase infrastructure construction and promote local economic growth, but also an indispensable link to promote and deepen the reform of investment and financing system.
Through the operation of financial investment and financing, we can further strengthen the government's macro-control, promote the pace of urban infrastructure construction, alleviate the pressure of local financial investment, solve the fundamental drawbacks of the investment and financing system, clearly define and standardize the investment subject, establish the risk responsibility mechanism of the investment subject, and improve the investment mechanism with internal binding force, which should be vigorously advocated and continuously improved.
5. Talking about the financing innovation of public projects from the construction of Olympic venues, by Zhou Jin (School of Economics and Business Administration, Zhejiang University of Technology), from Capital Operation (the core periodical of China). Firstly, this paper analyzes the influence of several traditional financing modes on the overall benefit of public projects, and further discusses the limitations of public projects in the financing process according to their four characteristics.
Then, combined with the successful cases of innovative financing mode in the construction of Olympic venues, according to the differences in exclusivity and competitiveness of different types of public projects, some suggestions on innovative financing mode are put forward accordingly.
After reading it, I learned that the Olympic venues not only have the common characteristics of general public events, but also have the characteristics of high construction cost, huge maintenance cost and many limitations in commercial operation after the games.
This makes its financing situation more severe, and also puts forward harsh financing requirements for the Beijing Municipal Government.
Drawing lessons from the successful financing schemes of previous Olympic venues and combining with the characteristics of its own projects, the Beijing Municipal Government has put forward three basic ways: public-private partnership (PPP), construction-operation-transfer (bundled BOT and simple BOT) and donation, which effectively solved the problem of Olympic venues construction funds.
6. Zhejiang Finance (ISSN)Jason (Shanghai University) Feasibility analysis of BOT financing mode for Shanghai World Expo. This paper analyzes the feasibility of applying BOT mode in Shanghai World Expo, and points out that Shanghai World Expo, as a grand event with the theme of harmony and integration, is not only a grand event to promote the integration of civilizations and show Shanghai's elegant demeanor, but also a great opportunity for Shanghai's urban development. Shanghai should seize this opportunity to speed up infrastructure construction and urban transformation.
On the one hand, BOT financing can solve the financial burden of the government and give full play to the flexibility and efficiency of private capital; On the other hand, it can improve the structure of foreign investment and play a positive role in the adjustment and reform of Shanghai's industrial structure.
I think that while making full use of BOT financing mode, we should also fully evaluate the project.
On the one hand, evaluate the role and feasibility of the project to avoid repeated construction; On the other hand, reasonably estimate the cost and cash flow of the project and formulate the corresponding rate of return.
In addition, we should properly supervise and pay attention to the construction of some major projects, and resolutely stop and punish acts that destroy the environment or cut corners during the construction process.
Secondly, formulate corresponding laws and regulations to regulate the financing behavior of BOT.
According to the actual needs of infrastructure construction, Shanghai should formulate a series of measures to regulate the behavior of BOT subjects, fully mobilize the enthusiasm and initiative of investors, and give tax relief measures to some major projects to ensure the legitimate and reasonable benefits of contractors.
At the same time, we should also mobilize the important role of private capital and use all available funds for construction and development.
7. Teng Wu and Ma, the authors of "Innovation of Project Financing —— Asset Securitization of Leveraged Leasing of Large Equipment", are from Chinese Business (a core Chinese periodical). This paper expounds the important role of project financing in China's economic development.
Its powerful fund-raising ability has solved the problem of capital shortage of many enterprises and promoted the sustainable development of the economy.
This paper mainly introduces an innovation of project financing, that is, asset securitization of large-scale equipment leveraged lease, and deeply discusses its business process, significance, possible risks and countermeasures.
Through the article, I understand that leveraged leasing effectively reduces the investment cost and financing cost of investors, and it is a leasing method that often appears in the use of modern international large-scale equipment.
However, there are also some problems in the operation of leveraged lease transactions: for example, the capital bottleneck problem when leasing institutions buy large equipment; The use of new machines by the project company may not bring the expected income, which makes it difficult to pay the rent; The bank loan of the leasing institution cannot be repaid.