政府投资项目融资结构比选方法的优化
摘要：传统的融资结构比选方法通常采用比较资金成本法或每股收益无差别点法，但在适用政府投资项目融资模式的新变化上存在不足，主要体现在缺乏项目后期运维等全寿命周期环节的融资考量、与收益最大的最佳融资结构要义存在差异、计算参数难以获取等方面。而从全寿命周期、权益收益比选的角度，沿用每股收益无差别点法思想来进行优化，更适应政府投资项目融资模式的变化特点，是更适用的融资结构比选方法。
关键词：政府投资项目项目管理投融资比选方法融资结构
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参考文献[1] 纪玉哲.公共基础设施投融资改革研究[D].大连：东北财经大学，2013.
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[2] 王许寨.对企业资本结构决策中每股收益无差别点分析法的探讨[J].时代金融，2013(3)：222-223.
[3] 宋亏霞.EBIT-EPS分析确定最佳资本结构的原理分析及其运用[J].财务管理与资本运营，2015(6)：96-98.
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[5] 吴冉.EBIT-EPS决策动态巧析[J].管理会计，2018(11)：62-63.
Optimization of Comparison and Selection Methods of Financing Structure of Government Investment Projects
Abstract: The traditional comparison and selection methods of financing structure usually adopt the comparative capital cost method or the no difference point method of earnings per share，but there are deficiencies in the application of the new changes in the financing mode of government investment projects，mainly reflected in the lack of financing considerations in the whole life cycle links such as operation and maintenance in the later stage of the project，the difference from the essence of the best financing structure with the largest income，and the difficulty in obtaining calculation parameters.From the perspective of life cycle and equity income comparison and selection，the idea of no difference point method of earnings per share is used for optimization，which is more suitable for the changing characteristics of the financing mode of government investment projects.It is a more applicable method of financing structure comparison and selection.
Keywords: government investment projects; project management; investment and financing; comparison and selection method; financing structure
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