本文選題：應收賬款 + 信用風險��； 參考：《南京信息工程大學》2017年碩士論文

【摘要】：在當今社會生活中,信用交易在我們的生活中越來越普遍,比如銀行的信用卡、貸款業(yè)務,支付寶的螞蟻花唄,都涉及到了信用交易,上述信用交易是針對個人。對企業(yè)來說,隨著我國經(jīng)濟結(jié)構(gòu)的持續(xù)調(diào)整,供給側(cè)改革的不斷深入,市場競爭的形勢不斷嚴峻,信用銷售方式也會越來越流行,筆者在實習階段對NH公司應收賬款現(xiàn)狀進行了一定的了解,得知NH公司近幾年比較重視應收賬款的風險管理,這也給予筆者寫作本文最初靈感。通過查閱相關(guān)資料,發(fā)現(xiàn)在金融行業(yè)對信用風險的管理研究和模型探索較為成熟完善,應收賬款同樣作為一種信用資產(chǎn),信用風險管理的相關(guān)研究也可以應用于應收賬款風險管理中,所以本文嘗試性將國外較成熟的信用風險計量工具KMV模型結(jié)合到NH公司的應收賬款風險管理中去。本文首先回顧了信用風險評估方法的發(fā)展,這其中重點介紹文中運用到的KMV模型,然后對應收賬款管理中存在風險、風險造成的影響及其因素進行總結(jié),并對國內(nèi)外應收賬款風險管理的文獻進行綜述。然后描述NH公司應收賬款管理的現(xiàn)狀,通過對NH公司近五年應收賬款的賬面額、周轉(zhuǎn)率等指標展開分析,包括與同行業(yè)上市公司的對比分析,指出NH公司現(xiàn)有模式下存在的如機構(gòu)設(shè)置、信用政策等方面的局限性問題。接著說明了本文風險計量方法選擇的原因,并選取NH公司客戶樣本,利用KMV模型對其風險進行應用計量。隨后基于風險計量的結(jié)果對NH公司應收賬款信用政策進行分析改進。最后針對NH公司應收賬款現(xiàn)有模式下的問題提出調(diào)整管理機構(gòu)設(shè)置、加強應收賬款跟蹤管理分析的改進建議。本文通過理論和實證結(jié)合NH公司分析了 KMV模型在實際的應收賬款風險計量中的應用,對企業(yè)進行應收賬款信用風險管理提供了更具體的量化思路,具有一定的參考意義,從計量的結(jié)果分析與實際的客戶信用情況基本符合。但也存在一定的不足之處,KMV模型本身的適用性在于上市公司,但由于我國歷史違約經(jīng)驗數(shù)據(jù)庫的缺乏,本文只能運用理論的違約率度量風險,在實際運用的過程中需要以大量經(jīng)驗數(shù)據(jù)庫來驗證。
[Abstract]:In today's social life, credit transactions are becoming more and more common in our lives, such as bank credit cards, loan business, Alipay's ant flower, all involved in credit transactions, the credit transactions are targeted at individuals.For enterprises, with the continuous adjustment of the economic structure of our country, the deepening of supply-side reform, the situation of market competition is becoming increasingly severe, and the way of credit sales will become more and more popular.In the practice stage, the author has a certain understanding of the current situation of the accounts receivable of NH Company, and knows that the NH Company has paid more attention to the risk management of the accounts receivable in recent years, which also gives the author the initial inspiration to write this article.By consulting relevant information, we find that the management of credit risk in the financial industry and model exploration is more mature and perfect, accounts receivable is also a kind of credit assets,The related research of credit risk management can also be applied to account receivable risk management, so this paper attempts to combine the mature credit risk measurement tool KMV model with the account receivable risk management of NH company.This paper first reviews the development of credit risk assessment methods, which focuses on the introduction of the KMV model used in the paper, and then summarizes the risk in accounts receivable management, the impact of risk and its factors.And the domestic and foreign accounts receivable risk management literature review.Then it describes the current situation of account receivable management in NH Company, and analyzes the book value and turnover rate of accounts receivable of NH Company in the past five years, including the comparative analysis with listed companies in the same industry.This paper points out the limitation of NH company's existing mode, such as institution setting, credit policy and so on.Then it explains the reason of choosing the risk measurement method in this paper, and selects the customer sample of NH Company, and uses the KMV model to measure the risk.Then, based on the results of risk measurement, the credit policy of accounts receivable of NH Company is analyzed and improved.Finally, aiming at the problems in the current model of accounts receivable in NH Company, the paper puts forward some suggestions to improve the management organization setting and to strengthen the management analysis of accounts receivable tracking.This paper analyzes the application of KMV model in real accounts receivable risk measurement through theoretical and empirical analysis, which provides a more specific quantitative thinking for enterprises to carry out credit risk management of accounts receivable, which has certain reference significance.From the measurement of the results of analysis and the actual customer credit situation is basically in line with.However, the applicability of KMV model lies in the listed company. However, due to the lack of historical default experience database in China, this paper can only use the theory of default rate to measure the risk.In the process of practical application, a large number of empirical databases are needed to verify.
【學位授予單位】：南京信息工程大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F406.7;F426.7

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