| Since the supply-side structural reform in 2015,China’s economic development has been developed from high quality to development stage of rapid growth stage,however,for the iron and steel industry,the contradiction between supply and demand of steel is still outstanding,the situation of oversupply remains unchanged,in the face of slowing demand growth,severe overcapacity,together with inherent in the iron and steel industry’s high investment,long period,large,long process and professional characteristics,the steel industry falling profits,assets and other problems,the company was in financial trouble,especially financing predicament.T company as the leading enterprise in the global stainless steel industry,its profits in 2015 serious decline,though company profits began to gradually increase after 2016,but the financing problem is still outstanding,therefore,improve T company’s financing efficiency is of great importance for T company.Firstly,this paper review the research status of financing efficiency at home and abroad,based on the data of T company from 2014 to 2018,by applying the method of literature research,investigation,case analysis,quantitative analysis and qualitative analysis analyzed the operation situation,capital structure,financing structure and financing methods of T company,it is concluded that the factors affecting financing efficiency of T company include capital utilization rate,debt paying ability,growth ability,capital arrival rate and financing cost,and further analysis is made on this influencing factor;Secondly,according to the factors influencing financing efficiency,construct T company financing efficiency evaluation index system,using the entropy method to calculate the weight of each index and the comprehensive score of financing efficiency..Finally,according to the calculation results,put forward to reduce financing risk,reduce financing cost,improve the utilization of funds and other suggestions to improve the financing efficiency of T company. |
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