{"id":59773,"date":"2023-10-27T15:44:50","date_gmt":"2023-10-27T06:44:50","guid":{"rendered":"https:\/\/monolith.law\/vi\/?p=59773"},"modified":"2023-11-08T22:24:43","modified_gmt":"2023-11-08T13:24:43","slug":"method-of-raising-funds-for-stock-company","status":"publish","type":"post","link":"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company","title":{"rendered":"C\u00e1c ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n l\u00e0 g\u00ec? Gi\u1ea3i th\u00edch to\u00e0n di\u1ec7n kh\u00f4ng ch\u1ec9 qua vi\u1ec7c t\u0103ng v\u1ed1n b\u1eb1ng c\u00e1ch ph\u00e2n b\u1ed5 cho b\u00ean th\u1ee9 ba"},"content":{"rendered":"\n<p>T\u00f4i ngh\u0129 r\u1eb1ng ph\u01b0\u01a1ng ph\u00e1p ph\u1ed5 bi\u1ebfn nh\u1ea5t m\u00e0 c\u00e1c c\u00f4ng ty c\u1ed5 ph\u1ea7n nh\u01b0 c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p thu h\u00fat v\u1ed1n l\u00e0 nh\u1eadn \u0111\u1ea7u t\u01b0 t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m (VC) v\u00e0 ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu c\u1ee7a ch\u00ednh h\u1ecd. Tuy nhi\u00ean, ngo\u00e0i ph\u01b0\u01a1ng ph\u00e1p nh\u1eadn \u0111\u1ea7u t\u01b0 v\u00e0 ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu, c\u00f2n c\u00f3 nhi\u1ec1u ph\u01b0\u01a1ng ph\u00e1p kh\u00e1c \u0111\u1ec3 c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p v\u00e0 c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng t\u1ef1 thu h\u00fat v\u1ed1n. Do \u0111\u00f3, trong b\u00e0i vi\u1ebft n\u00e0y, t\u00f4i s\u1ebd gi\u1ea3i th\u00edch v\u1ec1 c\u00e1c ph\u01b0\u01a1ng ph\u00e1p thu h\u00fat v\u1ed1n c\u1ee7a c\u00e1c c\u00f4ng ty c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Cac_phuong_phap_goi_von_co_the_xem_xet\" title=\"C\u00e1c ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n c\u00f3 th\u1ec3 xem x\u00e9t\">C\u00e1c ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n c\u00f3 th\u1ec3 xem x\u00e9t<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ve_Tai_chinh_tai_san_Asset_finance\" title=\"V\u1ec1 T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n (Asset finance)\">V\u1ec1 T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n (Asset finance)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Uu_diem_cua_Tai_chinh_tai_san\" title=\"\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n\">\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Giam_chi_phi_huy_dong_von\" title=\"Gi\u1ea3m chi ph\u00ed huy \u0111\u1ed9ng v\u1ed1n\">Gi\u1ea3m chi ph\u00ed huy \u0111\u1ed9ng v\u1ed1n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Co_the_tang_gia_tri_doanh_nghiep\" title=\"C\u00f3 th\u1ec3 t\u0103ng gi\u00e1 tr\u1ecb doanh nghi\u1ec7p\">C\u00f3 th\u1ec3 t\u0103ng gi\u00e1 tr\u1ecb doanh nghi\u1ec7p<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nhuoc_diem_cua_Tai_chinh_tai_san\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n\">Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Khong_the_thuc_hien_neu_khong_co_tai_san_de_chuyen_doi_thanh_tien\" title=\"Kh\u00f4ng th\u1ec3 th\u1ef1c hi\u1ec7n n\u1ebfu kh\u00f4ng c\u00f3 t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n\">Kh\u00f4ng th\u1ec3 th\u1ef1c hi\u1ec7n n\u1ebfu kh\u00f4ng c\u00f3 t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Viec_lua_chon_tai_san_de_chuyen_doi_thanh_tien_la_kho_khan\" title=\"Vi\u1ec7c l\u1ef1a ch\u1ecdn t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n l\u00e0 kh\u00f3 kh\u0103n\">Vi\u1ec7c l\u1ef1a ch\u1ecdn t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n l\u00e0 kh\u00f3 kh\u0103n<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ve_Tai_chinh_no_Debt_finance\" title=\"V\u1ec1 T\u00e0i ch\u00ednh n\u1ee3 (Debt finance)\">V\u1ec1 T\u00e0i ch\u00ednh n\u1ee3 (Debt finance)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Uu_diem_cua_Tai_chinh_no\" title=\"\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3\">\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Khong_anh_huong_den_ty_le_co_phan_nam_giu_va_quyen_dieu_hanh\" title=\"Kh\u00f4ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n n\u1eafm gi\u1eef v\u00e0 quy\u1ec1n \u0111i\u1ec1u h\u00e0nh\">Kh\u00f4ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n n\u1eafm gi\u1eef v\u00e0 quy\u1ec1n \u0111i\u1ec1u h\u00e0nh<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Co_kha_nang_tao_ra_tin_dung\" title=\"C\u00f3 kh\u1ea3 n\u0103ng t\u1ea1o ra t\u00edn d\u1ee5ng\">C\u00f3 kh\u1ea3 n\u0103ng t\u1ea1o ra t\u00edn d\u1ee5ng<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Co_the_tao_ra_hieu_qua_giam_thue\" title=\"C\u00f3 th\u1ec3 t\u1ea1o ra hi\u1ec7u qu\u1ea3 gi\u1ea3m thu\u1ebf\">C\u00f3 th\u1ec3 t\u1ea1o ra hi\u1ec7u qu\u1ea3 gi\u1ea3m thu\u1ebf<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#De_dang_huy_dong_von\" title=\"D\u1ec5 d\u00e0ng huy \u0111\u1ed9ng v\u1ed1n\">D\u1ec5 d\u00e0ng huy \u0111\u1ed9ng v\u1ed1n<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nhuoc_diem_cua_Tai_chinh_no\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3\">Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#No_tren_bang_can_doi_ke_toan_tang_len\" title=\"N\u1ee3 tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n t\u0103ng l\u00ean\">N\u1ee3 tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n t\u0103ng l\u00ean<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Can_phai_tra_no\" title=\"C\u1ea7n ph\u1ea3i tr\u1ea3 n\u1ee3\">C\u1ea7n ph\u1ea3i tr\u1ea3 n\u1ee3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Can_phai_tra_lai\" title=\"C\u1ea7n ph\u1ea3i tr\u1ea3 l\u00e3i\">C\u1ea7n ph\u1ea3i tr\u1ea3 l\u00e3i<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ve_Tai_chinh_von_co_phan_Equity_finance\" title=\"V\u1ec1 T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n (Equity finance)\">V\u1ec1 T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n (Equity finance)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Uu_diem_cua_Tai_chinh_von_co_phan\" title=\"\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n\">\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Khong_can_tra_lai_suat\" title=\"Kh\u00f4ng c\u1ea7n tr\u1ea3 l\u00e3i su\u1ea5t\">Kh\u00f4ng c\u1ea7n tr\u1ea3 l\u00e3i su\u1ea5t<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Khong_can_tra_no\" title=\"Kh\u00f4ng c\u1ea7n tr\u1ea3 n\u1ee3\">Kh\u00f4ng c\u1ea7n tr\u1ea3 n\u1ee3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Co_the_cai_thien_tinh_hinh_tai_chinh_do_tang_von\" title=\"C\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh do t\u0103ng v\u1ed1n\">C\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh do t\u0103ng v\u1ed1n<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nhuoc_diem_cua_Tai_chinh_von_co_phan\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n\">Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Co_anh_huong_den_quyen_dieu_hanh\" title=\"C\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ec1n \u0111i\u1ec1u h\u00e0nh\">C\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ec1n \u0111i\u1ec1u h\u00e0nh<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Co_the_kho_khan_trong_viec_huy_dong_von\" title=\"C\u00f3 th\u1ec3 kh\u00f3 kh\u0103n trong vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n\">C\u00f3 th\u1ec3 kh\u00f3 kh\u0103n trong vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/method-of-raising-funds-for-stock-company\/#Tong_ket\" title=\"T\u1ed5ng k\u1ebft\">T\u1ed5ng k\u1ebft<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cac_phuong_phap_goi_von_co_the_xem_xet\"><\/span>C\u00e1c ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n c\u00f3 th\u1ec3 xem x\u00e9t<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>C\u00f3 th\u1ec3 xem x\u00e9t c\u00e1c ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n sau \u0111\u00e2y:<\/p>\n\n\n\n<ul>\n<li> Ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n b\u1eb1ng c\u00e1ch b\u00e1n t\u00e0i s\u1ea3n c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n (T\u00e0i ch\u00ednh d\u1ef1a tr\u00ean t\u00e0i s\u1ea3n)<\/li>\n\n\n\n<li> Ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n b\u1eb1ng c\u00e1ch nh\u1eadn kho\u1ea3n vay ti\u1ec1n (T\u00e0i ch\u00ednh d\u1ef1a tr\u00ean n\u1ee3)<\/li>\n\n\n\n<li> Ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n b\u1eb1ng c\u00e1ch nh\u1eadn \u0111\u1ea7u t\u01b0 t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m (T\u00e0i ch\u00ednh d\u1ef1a tr\u00ean c\u1ed5 ph\u1ea7n)<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/blockchain\/newvirtualcurrency-by-sto\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/blockchain\/newvirtualcurrency-by-sto[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ve_Tai_chinh_tai_san_Asset_finance\"><\/span>V\u1ec1 T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n (Asset finance)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/Monolith.law\/wp-content\/uploads\/2020\/01\/shutterstock_1220527444-1024x683.jpg\" alt=\"\" class=\"wp-image-6838\" \/><figcaption class=\"wp-element-caption\">\u01afu v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n l\u00e0 g\u00ec?<\/figcaption><\/figure>\n\n\n\n<p>T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n l\u00e0 ph\u01b0\u01a1ng ph\u00e1p m\u00e0 c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p v\u00e0 c\u00e1c c\u00f4ng ty c\u1ed5 ph\u1ea7n kh\u00e1c s\u1eed d\u1ee5ng \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n b\u1eb1ng c\u00e1ch b\u00e1n ho\u1eb7c s\u1eed d\u1ee5ng t\u00e0i s\u1ea3n c\u1ee7a m\u00ecnh. C\u00e1c t\u00e0i s\u1ea3n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c xem x\u00e9t \u0111\u1ec3 b\u00e1n trong t\u00e0i ch\u00ednh t\u00e0i s\u1ea3n bao g\u1ed3m b\u1ea5t \u0111\u1ed9ng s\u1ea3n, ch\u1ee9ng kho\u00e1n, h\u00e0ng t\u1ed3n kho, quy\u1ec1n \u0111\u00f2i n\u1ee3 t\u1eeb kh\u00e1ch h\u00e0ng, thi\u1ebft b\u1ecb m\u00e1y m\u00f3c, ph\u01b0\u01a1ng ti\u1ec7n, b\u1ea3n quy\u1ec1n ho\u1eb7c quy\u1ec1n s\u1edf h\u1eefu tr\u00ed tu\u1ec7.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uu_diem_cua_Tai_chinh_tai_san\"><\/span>\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Giam_chi_phi_huy_dong_von\"><\/span>Gi\u1ea3m chi ph\u00ed huy \u0111\u1ed9ng v\u1ed1n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>M\u1ed9t l\u1ee3i \u00edch c\u1ee7a t\u00e0i ch\u00ednh t\u00e0i s\u1ea3n l\u00e0 kh\u1ea3 n\u0103ng gi\u1ea3m chi ph\u00ed huy \u0111\u1ed9ng v\u1ed1n. Khi b\u00e1n t\u00e0i s\u1ea3n, kh\u00f4ng c\u00f3 chi ph\u00ed l\u1edbn li\u00ean quan \u0111\u1ebfn vi\u1ec7c b\u00e1n, do \u0111\u00f3, b\u1ea1n c\u00f3 th\u1ec3 gi\u1ea3m chi ph\u00ed huy \u0111\u1ed9ng v\u1ed1n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_the_tang_gia_tri_doanh_nghiep\"><\/span>C\u00f3 th\u1ec3 t\u0103ng gi\u00e1 tr\u1ecb doanh nghi\u1ec7p<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u01afu \u0111i\u1ec3m ti\u1ebfp theo c\u1ee7a t\u00e0i ch\u00ednh t\u00e0i s\u1ea3n l\u00e0 kh\u1ea3 n\u0103ng t\u0103ng s\u1ed1 ti\u1ec1n g\u1eedi v\u00e0 ti\u1ec1n m\u1eb7t b\u1eb1ng c\u00e1ch gi\u1ea3m t\u00e0i s\u1ea3n m\u1ee5c ti\u00eau tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 gi\u00fap t\u0103ng gi\u00e1 tr\u1ecb doanh nghi\u1ec7p.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_cua_Tai_chinh_tai_san\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh t\u00e0i s\u1ea3n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Khong_the_thuc_hien_neu_khong_co_tai_san_de_chuyen_doi_thanh_tien\"><\/span>Kh\u00f4ng th\u1ec3 th\u1ef1c hi\u1ec7n n\u1ebfu kh\u00f4ng c\u00f3 t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>M\u1ed9t nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a t\u00e0i ch\u00ednh t\u00e0i s\u1ea3n l\u00e0 n\u1ebfu kh\u00f4ng c\u00f3 t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n, b\u1ea1n kh\u00f4ng th\u1ec3 th\u1ef1c hi\u1ec7n n\u00f3. Do \u0111\u00f3, \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p v\u00e0 c\u00e1c c\u00f4ng ty c\u00f3 \u00edt t\u00e0i s\u1ea3n, \u0111\u00e2y c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p huy \u0111\u1ed9ng v\u1ed1n kh\u00f3 kh\u0103n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Viec_lua_chon_tai_san_de_chuyen_doi_thanh_tien_la_kho_khan\"><\/span>Vi\u1ec7c l\u1ef1a ch\u1ecdn t\u00e0i s\u1ea3n \u0111\u1ec3 chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ti\u1ec1n l\u00e0 kh\u00f3 kh\u0103n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Ngo\u00e0i ra, n\u1ebfu b\u1ea1n qu\u00e1 ch\u00fa tr\u1ecdng v\u00e0o vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n, b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n nh\u1ea7m nh\u1eefng t\u00e0i s\u1ea3n kh\u00f4ng n\u00ean b\u00e1n. Do \u0111\u00f3, khi th\u1ef1c hi\u1ec7n t\u00e0i ch\u00ednh t\u00e0i s\u1ea3n, b\u1ea1n c\u1ea7n xem x\u00e9t k\u1ef9 li\u1ec7u c\u00f3 t\u00e0i s\u1ea3n \u0111\u1ec3 b\u00e1n v\u00e0 n\u1ebfu c\u00f3, li\u1ec7u \u0111\u00f3 c\u00f3 ph\u1ea3i l\u00e0 t\u00e0i s\u1ea3n n\u00ean b\u00e1n hay kh\u00f4ng.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ve_Tai_chinh_no_Debt_finance\"><\/span>V\u1ec1 T\u00e0i ch\u00ednh n\u1ee3 (Debt finance)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>T\u00e0i ch\u00ednh n\u1ee3, hay c\u00f2n g\u1ecdi l\u00e0 Debt finance, l\u00e0 vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n th\u00f4ng qua n\u1ee3, nh\u01b0 vay t\u1eeb ng\u00e2n h\u00e0ng ho\u1eb7c ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu c\u00f4ng ty. Vi\u1ec7c ph\u00e1t h\u00e0nh kho\u1ea3n vay \u0111\u1ed3ng h\u1ee3p t\u00e1c (syndicated loan) ho\u1eb7c tr\u00e1i phi\u1ebfu t\u01b0 nh\u00e2n c\u0169ng l\u00e0 m\u1ed9t v\u00ed d\u1ee5 v\u1ec1 t\u00e0i ch\u00ednh n\u1ee3.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uu_diem_cua_Tai_chinh_no\"><\/span>\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>C\u00f3 th\u1ec3 xem x\u00e9t nh\u1eefng \u01b0u \u0111i\u1ec3m sau \u0111\u00e2y c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Khong_anh_huong_den_ty_le_co_phan_nam_giu_va_quyen_dieu_hanh\"><\/span>Kh\u00f4ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n n\u1eafm gi\u1eef v\u00e0 quy\u1ec1n \u0111i\u1ec1u h\u00e0nh<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong T\u00e0i ch\u00ednh v\u1ed1n (Equity finance), m\u00e0 ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch sau, vi\u1ec7c ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn s\u1ef1 thay \u0111\u1ed5i t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n n\u1eafm gi\u1eef v\u00e0 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ec1n \u0111i\u1ec1u h\u00e0nh. Ng\u01b0\u1ee3c l\u1ea1i, trong T\u00e0i ch\u00ednh n\u1ee3, vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n th\u00f4ng qua n\u1ee3 kh\u00f4ng l\u00e0m thay \u0111\u1ed5i t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n n\u1eafm gi\u1eef v\u00e0 kh\u00f4ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ec1n \u0111i\u1ec1u h\u00e0nh. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t \u01b0u \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3, v\u00ec ban \u0111i\u1ec1u h\u00e0nh c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c \u0111i\u1ec1u h\u00e0nh c\u00f4ng ty m\u00e0 kh\u00f4ng b\u1ecb \u1ea3nh h\u01b0\u1edfng b\u1edfi vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_kha_nang_tao_ra_tin_dung\"><\/span>C\u00f3 kh\u1ea3 n\u0103ng t\u1ea1o ra t\u00edn d\u1ee5ng<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>V\u00ec T\u00e0i ch\u00ednh n\u1ee3 l\u00e0 vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n th\u00f4ng qua n\u1ee3, c\u00f4ng ty c\u1ed5 ph\u1ea7n s\u1ebd ph\u1ea3i tr\u1ea3 n\u1ee3. N\u1ebfu c\u00f4ng ty c\u1ed5 ph\u1ea7n th\u1ef1c hi\u1ec7n \u0111\u00fang l\u1ecbch tr\u1ea3 n\u1ee3, \u0111i\u1ec1u n\u00e0y s\u1ebd t\u1ea1o ra t\u00edn d\u1ee5ng cho c\u00f4ng ty, cho th\u1ea5y c\u00f4ng ty c\u00f3 kh\u1ea3 n\u0103ng tr\u1ea3 n\u1ee3 \u0111\u00fang h\u1eb9n. K\u1ebft qu\u1ea3 n\u00e0y c\u00f3 th\u1ec3 l\u00e0m cho vi\u1ec7c x\u00e9t duy\u1ec7t cho vay t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh d\u1ec5 d\u00e0ng h\u01a1n khi c\u1ea7n vay s\u1ed1 ti\u1ec1n l\u1edbn, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t l\u1ee3i \u00edch cho c\u00f4ng ty c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_the_tao_ra_hieu_qua_giam_thue\"><\/span>C\u00f3 th\u1ec3 t\u1ea1o ra hi\u1ec7u qu\u1ea3 gi\u1ea3m thu\u1ebf<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong T\u00e0i ch\u00ednh n\u1ee3, th\u00f4ng th\u01b0\u1eddng c\u00f4ng ty s\u1ebd ph\u1ea3i tr\u1ea3 l\u00e3i cho ngu\u1ed3n cung c\u1ea5p v\u1ed1n. L\u00e3i ph\u1ea3i tr\u1ea3 khi huy \u0111\u1ed9ng v\u1ed1n th\u00f4ng qua T\u00e0i ch\u00ednh n\u1ee3 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c xem x\u00e9t nh\u01b0 chi ph\u00ed trong k\u1ebf to\u00e1n, do \u0111\u00f3 c\u00f3 th\u1ec3 gi\u1ea3m thu\u1ebf. N\u1ebfu ch\u1ec9 xem x\u00e9t v\u1ec1 m\u1eb7t thu\u1ebf, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t l\u1ee3i \u00edch cho c\u00f4ng ty c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"De_dang_huy_dong_von\"><\/span>D\u1ec5 d\u00e0ng huy \u0111\u1ed9ng v\u1ed1n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u0110\u1ea7u ti\u00ean, t\u1eeb g\u00f3c \u0111\u1ed9 c\u1ee7a ng\u01b0\u1eddi cung c\u1ea5p v\u1ed1n, h\u1ecd c\u00f3 th\u1ec3 xem x\u00e9t s\u1ed1 ti\u1ec1n cung c\u1ea5p d\u1ef1a tr\u00ean t\u00edn d\u1ee5ng c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n, do \u0111\u00f3 h\u1ecd c\u00f3 th\u1ec3 huy \u0111\u1ed9ng v\u1ed1n m\u00e0 kh\u00f4ng ph\u1ea3i ch\u1ea5p nh\u1eadn r\u1ee7i ro l\u1edbn.<br>Do r\u1ee7i ro c\u1ee7a ng\u01b0\u1eddi cung c\u1ea5p v\u1ed1n nh\u1ecf, vi\u1ec7c quy\u1ebft \u0111\u1ecbnh cung c\u1ea5p v\u1ed1n d\u1ec5 d\u00e0ng h\u01a1n, v\u00e0 c\u00f4ng ty c\u1ed5 ph\u1ea7n c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng t\u00ecm th\u1ea5y ng\u01b0\u1eddi cung c\u1ea5p v\u1ed1n. Do \u0111\u00f3, trong T\u00e0i ch\u00ednh n\u1ee3, vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n d\u1ec5 d\u00e0ng h\u01a1n, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t \u01b0u \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_cua_Tai_chinh_no\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"No_tren_bang_can_doi_ke_toan_tang_len\"><\/span>N\u1ee3 tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n t\u0103ng l\u00ean<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Nh\u01b0 \u0111\u00e3 gi\u1ea3i th\u00edch \u1edf tr\u00ean, T\u00e0i ch\u00ednh n\u1ee3 c\u00f3 th\u1ec3 t\u1ea1o ra hi\u1ec7u qu\u1ea3 gi\u1ea3m thu\u1ebf, nh\u01b0ng m\u1eb7t kh\u00e1c, n\u1ee3 tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n s\u1ebd t\u0103ng l\u00ean. C\u00f4ng ty c\u1ed5 ph\u1ea7n th\u01b0\u1eddng c\u00f3 n\u1ee3, nh\u01b0ng n\u1ebfu t\u1ef7 l\u1ec7 n\u1ee3 qu\u00e1 cao, t\u1eeb g\u00f3c \u0111\u1ed9 s\u1ed1 li\u1ec7u, c\u00f4ng ty c\u00f3 th\u1ec3 tr\u00f4ng nh\u01b0 \u0111ang kh\u00f4ng \u0111i\u1ec1u h\u00e0nh t\u1ed1t. Do \u0111\u00f3, vi\u1ec7c n\u1ee3 tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n t\u0103ng l\u00ean do T\u00e0i ch\u00ednh n\u1ee3 c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh n\u1ee3.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_phai_tra_no\"><\/span>C\u1ea7n ph\u1ea3i tr\u1ea3 n\u1ee3<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong T\u00e0i ch\u00ednh v\u1ed1n, m\u00e0 ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch sau, c\u00f4ng ty c\u1ed5 ph\u1ea7n nh\u1eadn v\u1ed1n th\u00f4ng qua \u0111\u1ea7u t\u01b0, ch\u1ee9 kh\u00f4ng ph\u1ea3i vay. Do \u0111\u00f3, c\u00f4ng ty c\u00f3 th\u1ec3 ph\u1ea3i th\u1ef1c hi\u1ec7n vi\u1ec7c ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn ho\u1eb7c ph\u00e2n ph\u1ed1i t\u00e0i s\u1ea3n c\u00f2n l\u1ea1i khi thanh l\u00fd c\u00f4ng ty, nh\u01b0ng kh\u00f4ng c\u1ea7n ph\u1ea3i tr\u1ea3 l\u1ea1i s\u1ed1 ti\u1ec1n \u0111\u00e3 nh\u1eadn. Ng\u01b0\u1ee3c l\u1ea1i, T\u00e0i ch\u00ednh n\u1ee3 l\u00e0 vay, kh\u00f4ng ph\u1ea3i \u0111\u1ea7u t\u01b0, do \u0111\u00f3 c\u00f4ng ty c\u1ea7n ph\u1ea3i tr\u1ea3 l\u1ea1i s\u1ed1 ti\u1ec1n \u0111\u00e3 nh\u1eadn. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t nh\u01b0\u1ee3c \u0111i\u1ec3m cho c\u00f4ng ty c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_phai_tra_lai\"><\/span>C\u1ea7n ph\u1ea3i tr\u1ea3 l\u00e3i<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Th\u00f4ng th\u01b0\u1eddng, c\u00f4ng ty c\u1ea7n ph\u1ea3i tr\u1ea3 l\u00e3i cho n\u1ee3 huy \u0111\u1ed9ng th\u00f4ng qua T\u00e0i ch\u00ednh n\u1ee3. Do \u0111\u00f3, c\u00f4ng ty c\u1ea7n ph\u1ea3i tr\u1ea3 s\u1ed1 ti\u1ec1n l\u1edbn h\u01a1n s\u1ed1 ti\u1ec1n huy \u0111\u1ed9ng do l\u00e3i. Vi\u1ec7c c\u1ea7n ph\u1ea3i tr\u1ea3 l\u00e3i c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t nh\u01b0\u1ee3c \u0111i\u1ec3m cho c\u00f4ng ty c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ve_Tai_chinh_von_co_phan_Equity_finance\"><\/span>V\u1ec1 T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n (Equity finance)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/Monolith.law\/wp-content\/uploads\/2020\/01\/shutterstock_313380698-1024x683.jpg\" alt=\"\" class=\"wp-image-6839\" \/><figcaption class=\"wp-element-caption\">Sau \u0111\u00e2y, ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch v\u1ec1 T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n.<\/figcaption><\/figure>\n\n\n\n<p>T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n l\u00e0 vi\u1ec7c c\u00f4ng ty c\u1ed5 ph\u1ea7n ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u00e0 g\u00e1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 VC, nh\u1eb1m m\u1ee5c \u0111\u00edch huy \u0111\u1ed9ng v\u1ed1n. C\u00e1c ph\u01b0\u01a1ng ph\u00e1p ch\u00ednh c\u1ee7a t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n bao g\u1ed3m vi\u1ec7c m\u1edf r\u1ed9ng cung c\u1ea5p, t\u0103ng v\u1ed1n c\u1ed5 ph\u1ea7n th\u00f4ng qua ph\u00e2n ph\u1ed1i cho c\u1ed5 \u0111\u00f4ng, ph\u00e2n ph\u1ed1i cho b\u00ean th\u1ee9 ba v\u00e0 ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i th\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi c\u00f3 quy\u1ec1n ch\u1ecdn mua tr\u00e1i phi\u1ebfu.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30b5\u30a4\u30c8\uff08\u30d9\u30c8\u30ca\u30e0\u8a9e\uff09 wp-block-embed-\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30b5\u30a4\u30c8\uff08\u30d9\u30c8\u30ca\u30e0\u8a9e\uff09\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"TKW0xHUDy7\"><a href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\">\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 l\u00e0 g\u00ec<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 l\u00e0 g\u00ec&#8221; &#8212; \u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30b5\u30a4\u30c8\uff08\u30d9\u30c8\u30ca\u30e0\u8a9e\uff09\" src=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/embed#?secret=4qztIPP7aF#?secret=TKW0xHUDy7\" data-secret=\"TKW0xHUDy7\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uu_diem_cua_Tai_chinh_von_co_phan\"><\/span>\u01afu \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Khong_can_tra_lai_suat\"><\/span>Kh\u00f4ng c\u1ea7n tr\u1ea3 l\u00e3i su\u1ea5t<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n, v\u00ec kh\u00f4ng ph\u1ea3i nh\u1eadn v\u1ed1n vay, n\u00ean kh\u00f4ng c\u1ea7n ph\u1ea3i tr\u1ea3 l\u00e3i su\u1ea5t. Trong tr\u01b0\u1eddng h\u1ee3p ph\u1ea3i tr\u1ea3 l\u00e3i su\u1ea5t, c\u00f3 th\u1ec3 l\u00e0m t\u0103ng chi ph\u00ed huy \u0111\u1ed9ng v\u1ed1n cho c\u00f4ng ty c\u1ed5 ph\u1ea7n. Do \u0111\u00f3, vi\u1ec7c kh\u00f4ng c\u1ea7n tr\u1ea3 l\u00e3i su\u1ea5t c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t l\u1ee3i th\u1ebf c\u1ee7a t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Khong_can_tra_no\"><\/span>Kh\u00f4ng c\u1ea7n tr\u1ea3 n\u1ee3<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n, v\u00ec kh\u00f4ng ph\u1ea3i nh\u1eadn v\u1ed1n vay, n\u00ean kh\u00f4ng c\u1ea7n ph\u1ea3i tr\u1ea3 l\u1ea1i s\u1ed1 v\u1ed1n \u0111\u00e3 huy \u0111\u1ed9ng. Vi\u1ec7c kh\u00f4ng c\u1ea7n tr\u1ea3 n\u1ee3 cho ph\u00e9p c\u00f4ng ty c\u1ed5 ph\u1ea7n gi\u1eef l\u1ea1i t\u00e0i s\u1ea3n, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t l\u1ee3i th\u1ebf c\u1ee7a t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_the_cai_thien_tinh_hinh_tai_chinh_do_tang_von\"><\/span>C\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh do t\u0103ng v\u1ed1n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p t\u00e0i ch\u00ednh n\u1ee3 (Debt finance), nh\u01b0 \u0111\u00e3 gi\u1ea3i th\u00edch \u1edf tr\u00ean, n\u1ee3 s\u1ebd t\u0103ng l\u00ean trong b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n. Trong tr\u01b0\u1eddng h\u1ee3p t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n, s\u1ed1 v\u1ed1n huy \u0111\u1ed9ng s\u1ebd tr\u1edf th\u00e0nh v\u1ed1n c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n, gi\u00fap c\u1ea3i thi\u1ec7n t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh v\u00e0 c\u00f4ng ty tr\u00f4ng c\u00f3 v\u1ebb th\u00e0nh c\u00f4ng h\u01a1n. \u0110i\u1ec1u n\u00e0y gi\u00fap c\u00f4ng ty nh\u1eadn \u0111\u01b0\u1ee3c s\u1ef1 tin t\u01b0\u1edfng t\u1eeb c\u00e1c \u0111\u1ed1i t\u00e1c giao d\u1ecbch v\u00e0 c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh. Do \u0111\u00f3, vi\u1ec7c c\u1ea3i thi\u1ec7n t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t l\u1ee3i th\u1ebf c\u1ee7a t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_cua_Tai_chinh_von_co_phan\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a T\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_anh_huong_den_quyen_dieu_hanh\"><\/span>C\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ec1n \u0111i\u1ec1u h\u00e0nh<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n, c\u1ea7n ph\u1ea3i ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu, v.v. cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 VC. Khi \u0111\u00f3, t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n s\u1edf h\u1eefu s\u1ebd thay \u0111\u1ed5i, \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ec1n \u0111i\u1ec1u h\u00e0nh. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_the_kho_khan_trong_viec_huy_dong_von\"><\/span>C\u00f3 th\u1ec3 kh\u00f3 kh\u0103n trong vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p huy \u0111\u1ed9ng v\u1ed1n th\u00f4ng qua t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n, b\u00ean cung c\u1ea5p v\u1ed1n kh\u00f4ng cung c\u1ea5p v\u1ed1n d\u01b0\u1edbi d\u1ea1ng vay m\u00e0 cung c\u1ea5p ti\u1ec1n d\u01b0\u1edbi d\u1ea1ng \u0111\u1ea7u t\u01b0. Khi \u0111\u00f3, c\u1ea7n ph\u1ea3i xem x\u00e9t r\u1ee7i ro \u0111\u1ea7u t\u01b0, do \u0111\u00f3, c\u00f3 th\u1ec3 kh\u00f4ng d\u1ec5 d\u00e0ng cung c\u1ea5p v\u1ed1n. K\u1ebft qu\u1ea3 l\u00e0, t\u1eeb g\u00f3c \u0111\u1ed9 c\u1ee7a b\u00ean nh\u1eadn v\u1ed1n, c\u00f3 th\u1ec3 g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 m\u1ed9t nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a t\u00e0i ch\u00ednh v\u1ed1n c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tong_ket\"><\/span>T\u1ed5ng k\u1ebft<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Ch\u00fang t\u00f4i \u0111\u00e3 gi\u1ea3i th\u00edch v\u1ec1 c\u00e1c ph\u01b0\u01a1ng ph\u00e1p huy \u0111\u1ed9ng v\u1ed1n c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n \u1edf tr\u00ean. \u0110\u1ed1i v\u1edbi c\u00f4ng ty c\u1ed5 ph\u1ea7n, d\u00f2ng ti\u1ec1n m\u1eb7t l\u00e0 m\u1ed9t v\u1ea5n \u0111\u1ec1 r\u1ea5t quan tr\u1ecdng. Do \u0111\u00f3, vi\u1ec7c quan tr\u1ecdng l\u00e0 ph\u1ea3i ch\u1ecdn ph\u01b0\u01a1ng ph\u00e1p huy \u0111\u1ed9ng v\u1ed1n ph\u00f9 h\u1ee3p m\u00e0 ch\u00fang t\u00f4i \u0111\u00e3 gi\u1edbi thi\u1ec7u trong b\u00e0i vi\u1ebft n\u00e0y v\u00e0 ti\u1ebfn h\u00e0nh huy \u0111\u1ed9ng v\u1ed1n. M\u1ed7i ph\u01b0\u01a1ng ph\u00e1p huy \u0111\u1ed9ng v\u1ed1n \u0111\u1ec1u c\u00f3 \u01b0u \u0111i\u1ec3m v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m, v\u00ec v\u1eady quan tr\u1ecdng l\u00e0 ph\u1ea3i hi\u1ec3u r\u00f5 v\u1ec1 \u01b0u \u0111i\u1ec3m v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a t\u1eebng ph\u01b0\u01a1ng ph\u00e1p huy \u0111\u1ed9ng v\u1ed1n. N\u1ebfu nh\u1eefng ng\u01b0\u1eddi qu\u1ea3n l\u00fd c\u00f4ng ty c\u1ed5 ph\u1ea7n c\u00f3 b\u1ea5t k\u1ef3 lo l\u1eafng n\u00e0o v\u1ec1 ph\u01b0\u01a1ng ph\u00e1p huy \u0111\u1ed9ng v\u1ed1n, h\u00e3y t\u00ecm \u0111\u1ebfn s\u1ef1 t\u01b0 v\u1ea5n c\u1ee7a c\u00e1c chuy\u00ean gia nh\u01b0 lu\u1eadt s\u01b0.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00f4i ngh\u0129 r\u1eb1ng ph\u01b0\u01a1ng ph\u00e1p ph\u1ed5 bi\u1ebfn nh\u1ea5t m\u00e0 c\u00e1c c\u00f4ng ty c\u1ed5 ph\u1ea7n nh\u01b0 c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p thu h\u00fat v\u1ed1n l\u00e0 nh\u1eadn \u0111\u1ea7u t\u01b0 t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m (VC) v\u00e0 ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu c\u1ee7a ch\u00ednh [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":60602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59773"}],"collection":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/comments?post=59773"}],"version-history":[{"count":1,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59773\/revisions"}],"predecessor-version":[{"id":60603,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59773\/revisions\/60603"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media\/60602"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media?parent=59773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/categories?post=59773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/tags?post=59773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}