【摘要】：作為一種起源于美國(guó)的融資工具,資產(chǎn)證券化在短短的30年的時(shí)間內(nèi),迅速發(fā)展成熟并在世界范圍內(nèi)得到廣泛傳播�，F(xiàn)在資產(chǎn)證券化已經(jīng)成為西方發(fā)達(dá)資本市場(chǎng)中同股權(quán)融資、債權(quán)融資并重的第三大主流融資工具。我國(guó)資產(chǎn)證券化的理論和實(shí)踐發(fā)展比較滯后,但在學(xué)習(xí)和借鑒國(guó)外理論研究的基礎(chǔ)上,也形成了具有本土特色的發(fā)展方式。本文正是在我國(guó)現(xiàn)行資產(chǎn)證券化的發(fā)展方式基礎(chǔ)上,著重研究企業(yè)資產(chǎn)證券化方式在中小企業(yè)證券化融資中的應(yīng)用。并針對(duì)我國(guó)中小企業(yè)資產(chǎn)規(guī)模小,難以獨(dú)立擔(dān)任企業(yè)資產(chǎn)證券化發(fā)起人的現(xiàn)實(shí),提出了具有創(chuàng)新形式的中小企業(yè)聯(lián)合資產(chǎn)證券化融資方式。 本文共分為五部分。第一部分,從我國(guó)中小企業(yè)融資難的現(xiàn)狀出發(fā),并結(jié)合資產(chǎn)證券化理論在我國(guó)的發(fā)展和實(shí)踐歷程,闡述了本文研究的背景和意義。并通過(guò)對(duì)已有文獻(xiàn)的綜述,明確了本文研究的重點(diǎn)和落腳點(diǎn)。第二部分,介紹了資產(chǎn)證券化的相關(guān)理論及其在我國(guó)的發(fā)展歷程,明確了資產(chǎn)證券化的相關(guān)概念、基本原理和基本流程。第三部分,通過(guò)對(duì)我國(guó)企業(yè)資產(chǎn)證券化試點(diǎn)項(xiàng)目的介紹和對(duì)江蘇吳中集團(tuán)具體案例的分析發(fā)現(xiàn),企業(yè)資產(chǎn)證券化融資方式具有諸多優(yōu)勢(shì),能為我國(guó)中小企業(yè)融資所用。第四部分,首先分析了中小企業(yè)進(jìn)行企業(yè)資產(chǎn)證券化融資可能存在的障礙,然后在試圖解決這些障礙的過(guò)程中提出中小企業(yè)聯(lián)合資產(chǎn)證券化的創(chuàng)新方式,并以中小企業(yè)應(yīng)收賬款為例,研究中小企業(yè)聯(lián)合資產(chǎn)證券化的實(shí)踐過(guò)程。第五部分,針對(duì)中小企業(yè)聯(lián)合資產(chǎn)證券化實(shí)踐流程設(shè)計(jì)中存在的難題提出現(xiàn)階段我國(guó)中小企業(yè)進(jìn)行聯(lián)合資產(chǎn)證券化實(shí)踐的建議對(duì)策。
[Abstract]:As a financing tool originating in the United States, asset securitization has developed rapidly and widely spread throughout the world in a short period of 30 years. Now asset securitization has become the third major financing tool with equity financing and debt financing in western developed capital markets. The development of theory and practice is lagging behind, but on the basis of studying and learning from foreign theories, it has also formed a development mode with local characteristics. On the basis of the development mode of current asset securitization in China, this paper focuses on the application of the enterprise asset securitization in the securitization financing of small and medium-sized enterprises. With the small size of the enterprise assets, it is difficult to independently serve as the sponsor of the enterprise asset securitization, and puts forward the financing mode of the joint asset securitization of small and medium-sized enterprises with innovative forms.
This article is divided into five parts. The first part, starting from the present situation of the financing difficulty of small and medium enterprises in our country, and combining the development and practice of the theory of asset securitization in our country, expounds the background and significance of this study. And through the review of the existing literature, the focus and the foothold of this study are clarified. The second part introduces the asset securities. The related theory and its development process in China have clearly defined the related concepts, basic principles and basic processes of asset securitization. The third part, through the introduction of the pilot project of China's enterprise asset securitization and the analysis of the specific case of Jiangsu Wu Zhong Group, it is found that the financing mode of the enterprise asset securitization has many advantages and can be used as a result. The fourth part of China's SME financing is the first analysis of the possible obstacles to the financing of small and medium-sized enterprises, and then in the process of trying to solve these obstacles, we put forward the innovative ways of the joint asset securitization of small and medium-sized enterprises, and take the accounts receivable of small and medium enterprises as an example to study the joint asset securities of small and medium-sized enterprises. The fifth part, in view of the problems existing in the design of the practical process of the joint asset securitization of small and medium-sized enterprises, the proposed countermeasures for the implementation of the joint asset securitization of small and medium enterprises in China are proposed.
【學(xué)位授予單位】：蘭州大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.51;F276.3

【參考文獻(xiàn)】

相關(guān)期刊論文 前1條

1 劉旭東;;美國(guó)住房抵押貸款證券化的運(yùn)作模式及其借鑒[J];商場(chǎng)現(xiàn)代化;2005年28期

相關(guān)博士學(xué)位論文 前1條

1 苗紀(jì)江;城市基礎(chǔ)設(shè)施資產(chǎn)證券化融資研究[D];同濟(jì)大學(xué);2005年

相關(guān)碩士學(xué)位論文 前10條

1 伍駿鵬;企業(yè)資產(chǎn)證券化融資研究[D];湖南大學(xué);2005年

2 賀瑞;資產(chǎn)證券化在項(xiàng)目融資中的應(yīng)用研究[D];西安電子科技大學(xué);2007年

3 燕鵬;我國(guó)中小企業(yè)融資創(chuàng)新問(wèn)題研究[D];山東大學(xué);2007年

4 王元龍;我國(guó)中小企業(yè)資產(chǎn)證券化融資研究[D];北方工業(yè)大學(xué);2007年

5 張穎翰;我國(guó)中小企業(yè)資產(chǎn)證券化融資研究[D];中南大學(xué);2006年

6 高進(jìn);我國(guó)中小企業(yè)資產(chǎn)證券化融資研究[D];蘇州大學(xué);2006年

7 安雋;企業(yè)資產(chǎn)證券化融資的現(xiàn)實(shí)問(wèn)題研究[D];東北財(cái)經(jīng)大學(xué);2007年

8 李麗;我國(guó)中小企業(yè)資產(chǎn)證券化融資研究[D];天津財(cái)經(jīng)大學(xué);2008年

9 董曉燕;中小高新技術(shù)企業(yè)專利證券化融資研究[D];蘭州大學(xué);2008年

10 周茉;中國(guó)國(guó)有企業(yè)資產(chǎn)證券化融資研究[D];吉林大學(xué);2009年

，

本文編號(hào)：2120365