發(fā)布時間：2018-10-16 14:15

【摘要】：小額貸款公司自誕生以來，著眼于滿足社會中“草根階層”的金融需求，經(jīng)過數(shù)年的迅猛增長，逐漸成為我國金融市場的重要力量。高速增長的小額貸款公司是對銀行體系的有效補充，在支持小微企業(yè)融資、完善多層次信貸市場上有重要作用。然而在小額貸款公司發(fā)展的初級階段，監(jiān)管部門通過降低杠桿標(biāo)準(zhǔn)、規(guī)定融資渠道的方式，避免小額貸款公司變相吸收存這款，確實起到了降低行業(yè)風(fēng)險的作用。但是隨著小額貸款公司的迅猛發(fā)展，再融資問題逐漸顯露，再加上旺盛的市場需求相比,較多小額貸款公司的貸款額在開業(yè)不久后就陷入后續(xù)無錢可貸的困境。小額貸款公司再融資問題日益制約著小額貸款行業(yè)的健康發(fā)展，也影響著小額貸款在支農(nóng)支小中的重要作用。 本文介紹了目前我國小額貸款公司再融資的現(xiàn)狀，分析出小額貸款公司再融資困境出現(xiàn)的法律層面、監(jiān)管層面以及當(dāng)前再融資渠道不通暢的原因。然后結(jié)合小額再貸款公司、債務(wù)融資和互聯(lián)網(wǎng)融資等新興方式，總結(jié)了案例中創(chuàng)新再融資的成功經(jīng)驗和風(fēng)險。在此基礎(chǔ)上，本文提出了適合我國國情且有可操作性的對策。首先，完善小額貸款公司再融資的法律環(huán)境，給予小額貸款公司金融機構(gòu)身份并修改再融資方式和杠桿比例額限制。其次，要改善監(jiān)管環(huán)境。在建立專業(yè)性評級的基礎(chǔ)上，實行差異化的再融資政策，，同時明確監(jiān)管主體和內(nèi)容，指引小額貸款行業(yè)健康發(fā)展。最后，應(yīng)鼓勵多元化的再融資方式，以完善債券市場融資為重點，同時建立小額再貸款融資平臺實現(xiàn)同業(yè)拆借。通過以上對策以期小額貸款公司走出再融資困境。
[Abstract]:Since its birth, microfinance companies have focused on meeting the financial needs of the "grassroots" in the society. After several years of rapid growth, microfinance companies have gradually become an important force in the financial market of our country. The rapid growth of microfinance companies is an effective supplement to the banking system and plays an important role in supporting the financing of small and micro enterprises and improving the multi-level credit market. However, in the initial stage of the development of microfinance companies, regulators have played a role in reducing industry risk by lowering leverage standards, prescribing ways of financing channels, and avoiding the disguised absorption of this section by microfinance companies. However, with the rapid development of microfinance companies, the problem of refinancing is gradually revealed. In addition, compared with the exuberant market demand, the loan amount of more micro-loan companies has fallen into the dilemma of no money to be loaned in the future soon after the opening of the business. The problem of refinancing of microfinance companies restricts the healthy development of microfinance industry, and also affects the important role of small loans in supporting agriculture. This paper introduces the current situation of refinancing of microfinance companies in China, and analyzes the legal level, supervision level and the reasons why the refinancing channels are not smooth. Then the successful experiences and risks of innovative refinancing in the case are summarized by combining the new ways such as micro-loan company debt financing and Internet financing. On this basis, this paper puts forward suitable and operable countermeasures for China's national conditions. First of all, improve the legal environment of microfinance companies, give microfinance companies the status of financial institutions and modify the refinancing methods and leverage ratio restrictions. Second, we should improve the regulatory environment. On the basis of establishing professional rating, the refinancing policy of differentiation should be carried out, and the main body and content of supervision should be defined to guide the healthy development of microfinance industry. Finally, we should encourage diversified ways of refinancing, focus on improving the bond market financing, and establish a microfinance financing platform to achieve interbank lending. Through the above countermeasures in the hope of microfinance companies out of the plight of refinancing.
【學(xué)位授予單位】：中國社會科學(xué)院研究生院
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.39;F830.42

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