ZY集團財務(wù)公司流動性風險管理問題探討
發(fā)布時間：2018-11-23 07:59
【摘要】：近二十多年,我國集團財務(wù)公司本著“依托企業(yè)集團,服務(wù)企業(yè)集團”的宗旨,在企業(yè)集團資金集中管理上發(fā)揮了重要作用,幫助集團實現(xiàn)了資本有效配置,降低了內(nèi)部成員之間的交易成本,并減少了集團的融資約束。財務(wù)公司目前已成為我國金融機構(gòu)體系中非常重要的一支力量。伴隨著經(jīng)濟全球化的快速發(fā)展和金融自由化的不斷加深,企業(yè)集團規(guī)模越來越大,成員單位之間的經(jīng)濟合作更加緊密,集團財務(wù)公司面臨著很大的發(fā)展機遇,同時也面臨著流動性風險的考驗。流動性風險具有聯(lián)動性、集中度高的特點,財務(wù)公司如果不能有效控制其流動性風險,倘若發(fā)生流動性危機,不僅財務(wù)公司的經(jīng)營會受到影響,而且其依靠的企業(yè)集團整個資金鏈也會受到沉重打擊。因此,流動性風險管理水平的高低對財務(wù)公司經(jīng)營管理和風險管理至關(guān)重要。但是在國內(nèi),相比于商業(yè)銀行,我國財務(wù)公司流動性風險管理沒有被充分的重視,流動性風險管理理念和流動性風險管理技術(shù)存在一定的問題。本文旨在對我國企業(yè)集團財務(wù)公司流動性風險管理進行研究,通過查找國內(nèi)外相關(guān)文獻資料,并運用理論分析與案例分析相結(jié)合的方法,結(jié)合ZY財務(wù)公司在流動性風險管理具體實踐中的案例,指出其流動性風險管理過程的問題并提出相關(guān)建議,從而為我國財務(wù)公司流動性風險管理提供案例借鑒。通過對ZY財務(wù)公司流動性風險管理的案例進行分析,本文得出以下結(jié)論:(1)ZY財務(wù)公司流動性風險預(yù)警機制不健全;(2)流動性風險量化工具比較落后;(3)風險管理體系政策不完善;(4)流動性風險管理工作易受集團行政干預(yù)影響。在此基礎(chǔ)之上,本文提出了針對ZY財務(wù)公司流動性風險管理過程中存在問題的建議:(1)完善流動性風險預(yù)警機制;(2)引進先進的流動性風險管理工具;(3)完善內(nèi)部控制制度;(4)妥善處理與ZY集團以及成員單位的關(guān)系;(5)積聚和培養(yǎng)風險管理人力資源;(6)構(gòu)建公司風險管理文化。全文共分為五章:第一章為引言,主要介紹本文的研究背景和意義、國內(nèi)外相關(guān)研究文獻、研究思路、研究方法和研究框架。第二章為財務(wù)公司流動性風險管理相關(guān)理論概述,是本文的理論部分,主要介紹了我國集團財務(wù)公司的業(yè)務(wù)范圍和功能地位,財務(wù)公司流動性風險的特點以及成因,為本文分析奠定理論基礎(chǔ)。第三章是ZY集團財務(wù)公司流動性風險管理的案例介紹,主要介紹了ZY財務(wù)公司的基本業(yè)務(wù)情況,詳細闡述了其流動性風險管理框架,并對其流動性風險管理水平進行了分析。第四章是ZY財務(wù)公司流動性風險管理存在的問題及原因分析,主要指出了ZY財務(wù)公司流動性風險管理過程中存在的問題,并對這些問題的成因進行了分析。第五章是完善ZY財務(wù)公司流動性風險管理的建議。
[Abstract]:In the past twenty years, the Group Finance Company of our country has played an important role in the centralized management of enterprise group funds and helped the group to realize the effective allocation of capital in line with the purpose of "relying on the enterprise group and serving the enterprise group." It reduces the transaction cost among the internal members and reduces the financing constraints of the group. The finance company has become a very important force in the financial institution system of our country at present. With the rapid development of economic globalization and the deepening of financial liberalization, the scale of enterprise groups is becoming larger and larger, and the economic cooperation between member units is closer. It also faces the test of liquidity risk. Liquidity risk has the characteristics of linkage and high concentration. If the financial company can not effectively control its liquidity risk, if there is a liquidity crisis, not only the management of the financial company will be affected. And the entire capital chain on which it depends will also be hit hard. Therefore, the level of liquidity risk management is very important to the management and risk management of financial companies. But in our country, compared with commercial banks, liquidity risk management of financial companies in our country is not paid enough attention to, and there are some problems in liquidity risk management concept and liquidity risk management technology. The purpose of this paper is to study the liquidity risk management of enterprise group financial companies in China. By looking up the relevant literature at home and abroad, this paper applies the method of combining theoretical analysis with case analysis. Combined with the case of ZY Finance Company in the practice of liquidity risk management, this paper points out the problems in the process of liquidity risk management and puts forward some relevant suggestions, so as to provide a case reference for the liquidity risk management of Chinese financial companies. Through the analysis of the case of liquidity risk management of ZY financial company, this paper draws the following conclusions: (1) the liquidity risk warning mechanism of ZY financial company is not perfect; (2) the liquidity risk quantification tool is backward; (3) the policy of risk management system is not perfect, (4) liquidity risk management is easily influenced by group administrative intervention. On this basis, this paper puts forward some suggestions for the liquidity risk management of ZY financial companies: (1) perfecting the liquidity risk warning mechanism; (2) introducing advanced liquidity risk management tools; (3) perfecting the internal control system; (4) properly handling the relationship with ZY Group and its member units; (5) accumulating and cultivating human resources of risk management; (6) constructing the risk management culture of the company. This paper is divided into five chapters: the first chapter is the introduction, mainly introduces the research background and significance of this paper, domestic and foreign related research literature, research ideas, research methods and research framework. The second chapter is an overview of the theory of liquidity risk management of financial companies, which is the theoretical part of this paper. It mainly introduces the business scope and functional status of financial companies in China, the characteristics and causes of liquidity risk of financial companies. It lays a theoretical foundation for the analysis of this paper. The third chapter is the case of liquidity risk management of ZY Group Finance Company. It mainly introduces the basic business situation of ZY Finance Company, elaborates its liquidity risk management framework, and analyzes the level of liquidity risk management. The fourth chapter is the ZY financial company liquidity risk management problems and causes analysis, mainly pointed out the ZY financial company liquidity risk management process problems, and analyzed the causes of these problems. The fifth chapter is to perfect the ZY finance company liquidity risk management suggestion.
【學位授予單位】：江西財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F832.39;F830.42
本文編號：2350861
[Abstract]:In the past twenty years, the Group Finance Company of our country has played an important role in the centralized management of enterprise group funds and helped the group to realize the effective allocation of capital in line with the purpose of "relying on the enterprise group and serving the enterprise group." It reduces the transaction cost among the internal members and reduces the financing constraints of the group. The finance company has become a very important force in the financial institution system of our country at present. With the rapid development of economic globalization and the deepening of financial liberalization, the scale of enterprise groups is becoming larger and larger, and the economic cooperation between member units is closer. It also faces the test of liquidity risk. Liquidity risk has the characteristics of linkage and high concentration. If the financial company can not effectively control its liquidity risk, if there is a liquidity crisis, not only the management of the financial company will be affected. And the entire capital chain on which it depends will also be hit hard. Therefore, the level of liquidity risk management is very important to the management and risk management of financial companies. But in our country, compared with commercial banks, liquidity risk management of financial companies in our country is not paid enough attention to, and there are some problems in liquidity risk management concept and liquidity risk management technology. The purpose of this paper is to study the liquidity risk management of enterprise group financial companies in China. By looking up the relevant literature at home and abroad, this paper applies the method of combining theoretical analysis with case analysis. Combined with the case of ZY Finance Company in the practice of liquidity risk management, this paper points out the problems in the process of liquidity risk management and puts forward some relevant suggestions, so as to provide a case reference for the liquidity risk management of Chinese financial companies. Through the analysis of the case of liquidity risk management of ZY financial company, this paper draws the following conclusions: (1) the liquidity risk warning mechanism of ZY financial company is not perfect; (2) the liquidity risk quantification tool is backward; (3) the policy of risk management system is not perfect, (4) liquidity risk management is easily influenced by group administrative intervention. On this basis, this paper puts forward some suggestions for the liquidity risk management of ZY financial companies: (1) perfecting the liquidity risk warning mechanism; (2) introducing advanced liquidity risk management tools; (3) perfecting the internal control system; (4) properly handling the relationship with ZY Group and its member units; (5) accumulating and cultivating human resources of risk management; (6) constructing the risk management culture of the company. This paper is divided into five chapters: the first chapter is the introduction, mainly introduces the research background and significance of this paper, domestic and foreign related research literature, research ideas, research methods and research framework. The second chapter is an overview of the theory of liquidity risk management of financial companies, which is the theoretical part of this paper. It mainly introduces the business scope and functional status of financial companies in China, the characteristics and causes of liquidity risk of financial companies. It lays a theoretical foundation for the analysis of this paper. The third chapter is the case of liquidity risk management of ZY Group Finance Company. It mainly introduces the basic business situation of ZY Finance Company, elaborates its liquidity risk management framework, and analyzes the level of liquidity risk management. The fourth chapter is the ZY financial company liquidity risk management problems and causes analysis, mainly pointed out the ZY financial company liquidity risk management process problems, and analyzed the causes of these problems. The fifth chapter is to perfect the ZY finance company liquidity risk management suggestion.
【學位授予單位】：江西財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F832.39;F830.42
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