本文選題：融資租賃 + 財(cái)務(wù)指標(biāo)分析法�。� 參考：《湘潭大學(xué)》2017年碩士論文

【摘要】：融資租賃是指出租人根據(jù)承租人對(duì)租賃物的特定要求和對(duì)供貨人的選擇,出資向供貨人購(gòu)買(mǎi)租賃物,并租給承租人使用,雙方訂立租賃合同,承租人取得使用設(shè)備的權(quán)利,定期向出租人支付租金。因此,融資租賃兼具融資與融物的功能,這使得對(duì)融資租賃企業(yè)財(cái)務(wù)風(fēng)險(xiǎn)的研究意義重大。論文的案例公司渤海金控投資股份有限公司是我國(guó)唯一一家A股上市的融資租賃公司,同時(shí)也是我國(guó)最早上市的融資租賃公司,在國(guó)內(nèi)融資租賃行業(yè)中居于領(lǐng)軍地位。自成立以來(lái),公司規(guī)模和業(yè)務(wù)不斷擴(kuò)大,公司的發(fā)展壯大中伴隨著各種風(fēng)險(xiǎn),因此本文試圖識(shí)別、分析、防范和控制渤海金控的財(cái)務(wù)風(fēng)險(xiǎn)。論文首先從國(guó)內(nèi)外文獻(xiàn)綜述入手,國(guó)外財(cái)務(wù)風(fēng)險(xiǎn)管理的研究起步早也較為完整,主要集中在財(cái)務(wù)風(fēng)險(xiǎn)管理概念界定、財(cái)務(wù)風(fēng)險(xiǎn)識(shí)別與防范兩個(gè)方面。國(guó)內(nèi)的財(cái)務(wù)風(fēng)險(xiǎn)管理研究主要集中在財(cái)務(wù)風(fēng)險(xiǎn)管理定義、財(cái)務(wù)風(fēng)險(xiǎn)分類(lèi)、識(shí)別和管理三個(gè)方面。本文在分析財(cái)務(wù)風(fēng)險(xiǎn)中采用了財(cái)務(wù)指標(biāo)分析法和層次分析法,通過(guò)分析得出如下結(jié)論:渤海金控經(jīng)營(yíng)運(yùn)轉(zhuǎn)不良甚至可能發(fā)生困難,財(cái)務(wù)狀況存在問(wèn)題,部分評(píng)價(jià)指標(biāo)出現(xiàn)異常;存在籌資風(fēng)險(xiǎn)主要體現(xiàn)在資產(chǎn)負(fù)債率高,長(zhǎng)期償債能力不足,資本結(jié)構(gòu)不合理,企業(yè)過(guò)于依賴(lài)銀行借款,融資方式單一;存在投資風(fēng)險(xiǎn)主要體現(xiàn)在投資收益增長(zhǎng)率遠(yuǎn)低于投資現(xiàn)金流量增長(zhǎng)率,投資效果沒(méi)有顯現(xiàn)、營(yíng)運(yùn)能力下降、盈利能力減弱;資金回收風(fēng)險(xiǎn)主要體現(xiàn)在長(zhǎng)期應(yīng)收租賃款回收質(zhì)量下降。在分析風(fēng)險(xiǎn)狀況和成因的基礎(chǔ)上結(jié)合公司實(shí)際情況提出相應(yīng)的財(cái)務(wù)風(fēng)險(xiǎn)防范和控制策略,主要有擴(kuò)大籌資渠道如資產(chǎn)證券化等方式、確定合理的資本結(jié)構(gòu)、完善投資決策評(píng)價(jià)制度、創(chuàng)新租賃產(chǎn)品提高公司競(jìng)爭(zhēng)力、利用金融衍生產(chǎn)品有效規(guī)避匯率和利率風(fēng)險(xiǎn)、充分利用保稅港區(qū)的優(yōu)惠政策、加強(qiáng)對(duì)信用風(fēng)險(xiǎn)的管理等。本文站在出租人的角度以渤海金控公司作為分析對(duì)象,對(duì)渤海金控的財(cái)務(wù)風(fēng)險(xiǎn)進(jìn)行分析,并在此基礎(chǔ)上提出防范措施,希望為我國(guó)的融資租賃行業(yè)提供有益借鑒。
[Abstract]:A financial lease means that the lessor, in accordance with the specific requirements of the lessee for the lease item and the choice of the supplier, shall contribute to the purchase of the lease item from the supplier and lease it to the lessee for use, and the two parties shall conclude a lease contract, and the lessee shall acquire the right to use the equipment, Rent is paid to the lessor on a regular basis. Therefore, financial leasing has the functions of financing and financing, which makes the study of financial risk of financial leasing enterprises of great significance. The case company of this paper is Bohai Golden Investment Co., Ltd., which is the only A share listed financial leasing company in China. It is also the earliest listed financial leasing company in China, and occupies the leading position in the domestic financial leasing industry. Since its establishment, the size and business of the company have been expanding, and the development of the company is accompanied by a variety of risks, so this paper tries to identify, analyze, prevent and control the financial risks of Bohai gold control. This paper begins with the literature review at home and abroad. The research on financial risk management abroad starts early and is relatively complete. It mainly focuses on the definition of the concept of financial risk management, the identification and prevention of financial risk. Domestic financial risk management research focuses on the definition of financial risk management, financial risk classification, identification and management. This paper adopts the financial index analysis method and the analytic hierarchy process in the analysis of the financial risk, and draws the following conclusions: the Bohai gold control operation is poor or even may have difficulties, the financial situation has problems, and some evaluation indexes are abnormal; The existence of financing risk is mainly reflected in the high ratio of assets and liabilities, insufficient long-term solvency, unreasonable capital structure, excessive reliance on bank loans, and a single financing mode. The existence of investment risk mainly reflects that the growth rate of investment income is far lower than the growth rate of investment cash flow, the investment effect is not obvious, the operation ability is decreased, and the profit ability is weakened; The risk of capital recovery is mainly reflected in the decline in the quality of long-term lease receivables. On the basis of analyzing the risk situation and the cause of formation, the paper puts forward the corresponding financial risk prevention and control strategy combined with the actual situation of the company, mainly by expanding the financing channels, such as asset securitization, and determining the reasonable capital structure. Improve investment decision evaluation system, innovate leasing products to improve the competitiveness of the company, use financial derivatives to effectively avoid the exchange rate and interest rate risk, make full use of the preferential policies in bonded port area, strengthen the management of credit risk, etc. From the perspective of lessor, this paper analyzes the financial risk of Bohai gold control company, and puts forward some preventive measures in the hope of providing useful reference for our country's finance leasing industry.
【學(xué)位授予單位】：湘潭大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：F830.42;F832.39

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