| Shipping industry plays a key role in the economic development of our country. Capital shortage, the disadvantage of Chinese shipping corporations, has been exposed completely under the economic situation of global finance crisis and declining shipping market. Chinese shipping corporations’ low financing efficiency generates that they are less competitive than overseas counterparts. This paper analyzes the financing efficiency of Chinese shipping corporations, and proposes suggestions that may improve financing efficiency; it is instructive and meaningful for the corporations to improve their international competitiveness on theory and practice.Chapter1introduces the research background and significance of Chinese shipping corporations’ financing efficiency, reviews and summarizes the reference on corporate-financing efficiency home and abroad, points out the method, framework, exploration and deficiency of the paper.Chapter2introduces the financing status quo of Chinese shipping corporations, generalizes the financing characteristics, and points out the financing problems.Chapter3carries on theoretical analysis on Chinese shipping corporations’ financing efficiency, by reviewing the financing theories, defining the concept of financing efficiency, analyzing the influencing factors of financing efficiency.Chapter4carries on empirical analysis on Chinese shipping corporations’ financing efficiency, by introducing entropy method and evaluation indices, setting up the evaluation model of financing efficiency, performing mathematical calculations, and analyzing the empirical results.Chapter5offers a case study on a listed company, China Shipping Development Co., Ltd., by introducing its profile, analyzing its financing activities, and researching its financing efficiency. Chapter6summarizes the paper, and proposes suggestions that may improve Chinese shipping corporations’ financing efficiency both from microscopic and macroscopic view.The paper considers that Chinese shipping corporations’ financing ideas are antiquated and their financing channels are simplex; the corporations’ financing efficiency is low, and is obviously affected by the macroeconomic situation; the corporations may promote their financing efficiency through improving the influencing factors which have big entropy coefficient, such as financing cost and profitability. |
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