The Research On The Construction Of The Evaluation Index System Of GW Group Debt Financing

GW Group is a typical local large state-owned enterprises,the actual controller is the Guangdong Provincial SASAC,mainly engaged in automobile,metal,energy,chemical,timber and other commodity trade business,the total operating income perennial Guangdong Province,GW Group also has a very competitive advantage in the industry,is the focus of the national development of 20 large-scale material circulation enterprises.In recent years,GW Group by the national macroeconomic policy control,the traditional business development blocked,the group is in the key to transformation and upgrading when the money,a great demand for funds.And from what means to obtain the late development of the Group of various types of capital required,while ensuring that these capital in the duration of the length of the orderly,healthy and reasonable structure,which directly depends on the GW Group’s financing activities are scientific and reasonable.For a long time,debt financing has been at the core of GW Group’s financing activities,and the research on GW Group financing should be based on the specific research on its debt financing activities.However,at present,domestic scholars are keen to study the issue of debt financing from the macro level,and there are few case papers that combine with specific enterprises.Debt financing research needs to be changed from theoretical perfection to practical application.Based on the above background,the author chooses the representative enterprise GW group to carry on the concrete research to its debt financing question.First,on the basis of consulting a large amount of literature,the paper analyzes the relevant classical theory of debt financing.Then,through the research of the debt financing activities of the group and the research of the enterprise,it is found that the debt is related to the debt financing.Financing activities in the short-term,financing and other issues,and pointed out its specific causes,including China’s bond market development imbalance,too dependent on the government implicit guarantee,the Group’s lower credit rating and the lack of scientific debt financing evaluation index system.Therefore,this paper proposes to construct a scientific evaluation system of debt financing for GW Group.Based on the three main levels of financing incentive,financing cost and financing risk,AHP is used to set up nine specific evaluation indexes and adopt the questionnaire survey method The paper puts forward the complete evaluation system of debt financing,and introduces the concrete application and guarantee of the index system.