本文選題：SYJC + 應(yīng)收賬款證券化��； 參考：《沈陽工業(yè)大學(xué)》2017年碩士論文

【摘要】：資產(chǎn)證券化最早出現(xiàn)在20世紀(jì)70年代的美國,經(jīng)歷一系列的發(fā)展現(xiàn)已成為企業(yè)的新型融資工具,實現(xiàn)了實體經(jīng)濟和虛擬經(jīng)濟之間的相互聯(lián)系,促進(jìn)其共同發(fā)展�？傮w上講,我國資產(chǎn)證券化的起步相對較晚,國內(nèi)試點的項目大多數(shù)是銀行貸款和大型基礎(chǔ)設(shè)施的受益權(quán),基本上甚少有應(yīng)收賬款相關(guān)項目;另一方面,目前我國應(yīng)收賬款證券化相關(guān)的法律法規(guī)尚不完善,以及企業(yè)成功進(jìn)行資產(chǎn)證券化和風(fēng)險防控等相關(guān)經(jīng)驗不足的因素,都導(dǎo)致了我國企業(yè)的應(yīng)收賬款證券化發(fā)展較為緩慢。本文介紹了我國企業(yè)應(yīng)收賬款證券化融資目前存在的現(xiàn)實困境,結(jié)合資產(chǎn)證券化相關(guān)理論和現(xiàn)實中資產(chǎn)證券化融資的成功經(jīng)驗,采用文獻(xiàn)研究法和案例分析法,以SYJC企業(yè)應(yīng)收賬款的實際數(shù)據(jù)為基礎(chǔ)進(jìn)行研究。首先,從SYJC企業(yè)融資渠道、融資需求和企業(yè)實施應(yīng)收賬款證券化融資優(yōu)勢三個角度分析了SYJC企業(yè)進(jìn)行應(yīng)收賬款證券化融資具有必要性;其次,從SYJC企業(yè)自身、投資者和市場環(huán)境三個角度分析了SYJC企業(yè)進(jìn)行應(yīng)收賬款證券化融資具有可行性;再次,對SYJC企業(yè)應(yīng)收賬款證券化從以下幾個方面進(jìn)行設(shè)計,包括:特殊目的機構(gòu)的選擇、資產(chǎn)池的構(gòu)建、對資產(chǎn)池中的現(xiàn)金流進(jìn)行分析、SPV購買應(yīng)收賬款折扣的設(shè)計、資產(chǎn)池中違約率的預(yù)計、信用增級方式的設(shè)計、產(chǎn)品定價分析等方面,并利用結(jié)構(gòu)化分層模型來驗證相關(guān)參數(shù)的合理性。最后,為了保證證券化質(zhì)量,從內(nèi)部和外部兩個方面提出該公司應(yīng)收賬款證券化的保障措施。本文的研究旨在通過實例分析與方案設(shè)計幫助應(yīng)收賬款較多且現(xiàn)金流緊張的企業(yè),運用應(yīng)收賬款證券化工具融資,以解決企業(yè)的財務(wù)困境,使運營效率得到提高。
[Abstract]:The asset securitization first appeared in 1970s in the United States experienced a series of development has become the new financing tools of enterprises, realize the relationship between real economy and fictitious economy, promote the common development. Generally speaking, asset securitization in China started in late phase, most of the domestic pilot project is right bank loans and large infrastructure, basically there are very few accounts receivable related projects; on the other hand, at present our country accounts receivable securitization related laws and regulations are not perfect, the success factors of asset securitization and risk prevention and control and lack of relevant experience and enterprise, have led to China's enterprises should accounts receivable securitization development is relatively slow. This paper introduces the enterprises in our country should be practical difficulties existing accounts receivable securitization of asset securitization, combined with relevant theoretical and practical asset securities The successful experience of financing, using the method of literature research and case analysis, with the actual data for SYJC enterprises accounts receivable as the basis for the study. First of all, from the SYJC financing channels for enterprises, should be three aspects of accounts receivable securitization financing advantage analysis of SYJC enterprise accounts receivable securitization financing necessity of financing needs and enterprise; secondly, from the three angles of the SYJC enterprises, investors and market environment analysis of SYJC enterprise has the feasibility of account receivable securitization; thirdly, the SYJC enterprise accounts receivable securitization design from the following aspects including: SPV choice, asset pool, analysis the cash flow of the asset pool, should buy SPV design accounts receivable discount, expected default rate in the asset pool, the design methods of credit rating, pricing analysis, and use hierarchical structured To verify the rationality of the model parameters. Finally, in order to ensure the security quality, from the two aspects of internal and external security measures should be put forward the accounts receivable securitization of the company. This study aims to design example analysis and solutions to help the accounts receivable and more cash flow tight enterprises, using accounts receivable securitization financing, to solve the financial difficulties of enterprises, the operation efficiency is improved.

【學(xué)位授予單位】：沈陽工業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F426.4;F406.7

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 馬志成;;應(yīng)收賬款證券化的法律特征與條件[J];金融會計;2016年06期

2 余春燕;陳紫超;寧俊飛;;存量資產(chǎn)盤活術(shù):應(yīng)收賬款證券化[J];金融市場研究;2016年04期

3 袁狀;;煤炭企業(yè)應(yīng)收賬款資產(chǎn)證券化研究[J];煤炭工程;2015年07期

4 張旭;郭曉音;任麗明;李存金;;軍工企業(yè)資產(chǎn)證券化的資產(chǎn)選擇與SPV模式設(shè)計研究[J];工業(yè)技術(shù)經(jīng)濟;2014年06期

5 廖菲菲;趙秋銀;;應(yīng)收賬款證券化研究[J];時代金融;2014年14期

6 國燕萍;郭黎;;中小企業(yè)應(yīng)收賬款管理策略[J];財會月刊;2013年14期

7 孫碧榮;;關(guān)于推進(jìn)我國資產(chǎn)證券化的幾點思考[J];價格理論與實踐;2013年04期

8 邱成梅;趙如;;企業(yè)資產(chǎn)證券化融資的財富效應(yīng)——基于浦東建設(shè)資產(chǎn)證券化研究[J];財經(jīng)理論與實踐;2013年02期

9 蔡秀花;;中小企業(yè)應(yīng)收賬款管理的必要性與可行性分析[J];民營科技;2011年12期

10 欽佩武;劉增鋒;;中小企業(yè)應(yīng)收賬款證券化融資可行性分析[J];現(xiàn)代物業(yè)(中旬刊);2011年10期

，

本文編號：1745434