本文關(guān)鍵詞： 項目融資 風(fēng)險管理 有限追索 擔(dān)保　出處：《東北財經(jīng)大學(xué)》2002年碩士論文　論文類型：學(xué)位論文

【摘要】： 項目融資是20世紀(jì)70年代以后國際金融市場上推出的一種新型籌資方式，近年來已經(jīng)發(fā)展成為大型工程項目建設(shè)籌集資金的一種卓有成效的手段，在國際上得到了非常廣泛的運(yùn)用。我國于80年代中期首次引進(jìn)項目融資，隨著我國基礎(chǔ)設(shè)施項目招商引資的力度加大，項目融資在我國得到了快速的發(fā)展，為解決我國大型基礎(chǔ)設(shè)施項目資金和技術(shù)缺乏的問題做出了重要的貢獻(xiàn)。然而項目融資也有它的不足之處，，由于項目融資時間長、規(guī)模大、參與方多、結(jié)構(gòu)復(fù)雜，導(dǎo)致融資風(fēng)險極大，因而項目融資要求從前期的項目可行性研究開始到項目的談判、簽約、建設(shè)施工直至運(yùn)營，實行全過程的監(jiān)督和嚴(yán)格的風(fēng)險管理。但是在我國，項目融資起步較晚，很多東西還處在探索階段，加之受計劃經(jīng)濟(jì)的影響，人們普遍對項目融資中的風(fēng)險認(rèn)識不足，對風(fēng)險管理的認(rèn)識也存在著一定的誤區(qū)，往往把風(fēng)險管理狹義地理解為風(fēng)險控制或是風(fēng)險處理。因此，了解我國項目融資的風(fēng)險，構(gòu)建風(fēng)險管理的基本框架，分析我國項目融資風(fēng)險管理的現(xiàn)存問題以及如果解決這些問題，具有現(xiàn)實意義。 本文主要研究如何構(gòu)建我國項目融資風(fēng)險管理的基本框架以及如何改善我國項目融資風(fēng)險管理的現(xiàn)狀等問題。本文不僅對項目融資以及風(fēng)險管理的基本概念、主要特征做了較為系統(tǒng)的闡述，還結(jié)合我國項目融資中的典型案例，分析了構(gòu)成我國項目融資主要風(fēng)險的六大風(fēng)險，即信用風(fēng)險、完工風(fēng)險、運(yùn)營風(fēng)險、政治風(fēng)險、經(jīng)濟(jì)風(fēng)險和環(huán)保風(fēng)險。在風(fēng)險評估方面，突出了定量評估，引入了動態(tài)分析。在此基礎(chǔ)上，針對這些風(fēng)險，提出了以信用保證為主要形式的風(fēng)險處理方案。同時，文本也注意到許多先進(jìn)的風(fēng)險管理技術(shù)在我國很難得以應(yīng)用，主要原因在于我國項目融資風(fēng)險管理在政策、法律、項目審批、風(fēng)險管理技術(shù)以及其它一些客觀條件方面存在諸多問題，在對這些問題進(jìn)行分析的基礎(chǔ)上，本文提出了解決這些問題的相關(guān)政策建議與措施。 本文的一些分析是比較粗淺的，很多想法也不是很成熟，但是風(fēng)險管理的應(yīng)用問題應(yīng)該是發(fā)展我國項目融資迫切需要解決的問題。筆者選擇這一領(lǐng)域作為自己畢業(yè)論文的研究范圍，目的僅在于能對我國項目融資風(fēng)險管理的發(fā)展做一些前瞻性的探索，以起到拋磚引玉的作用。
[Abstract]:Project financing is a new type of financing method introduced in the international financial market after 1970s. In recent years, project financing has developed into an effective means to raise funds for large-scale construction projects. In the middle of 80s, China introduced project financing for the first time. With the increase of investment in infrastructure projects in China, project financing has developed rapidly in China. It has made an important contribution to solve the problem of lack of funds and technology for large-scale infrastructure projects in our country. However, project financing also has its shortcomings, because of its long time, large scale, large number of participants and complex structure. As a result of the great risk of financing, project financing requires from the beginning of the preliminary project feasibility study to project negotiation, contract, construction and operation, the whole process of supervision and strict risk management. But in our country, The project financing starts late, many things are still in the exploration stage, in addition, under the influence of the planned economy, people generally lack the understanding of the risk in the project financing, and the understanding of the risk management also has certain misunderstanding. Risk management is often understood narrowly as risk control or risk management. It is of practical significance to analyze the existing problems of project financing risk management in China and to solve these problems. This paper mainly studies how to construct the basic framework of project financing risk management in our country and how to improve the present situation of project financing risk management in our country, not only the basic concepts of project financing and risk management, but also the basic concepts of project financing and risk management. The main characteristics of the project financing in China are described systematically, and the six major risks, namely credit risk, completion risk, operation risk, political risk, which constitute the main risks of project financing in China, are analyzed, combining with the typical cases of project financing in China. Economic risk and environmental risk. In the aspect of risk assessment, quantitative assessment is highlighted and dynamic analysis is introduced. Based on this, a risk treatment scheme with credit guarantee as the main form is put forward. The text also notes that many advanced risk management techniques are difficult to apply in China, mainly because of the policy, law, and project approval of project financing risk management in China. There are many problems in risk management technology and some other objective conditions. Based on the analysis of these problems, this paper puts forward some relevant policy suggestions and measures to solve these problems. Some of the analysis in this paper is rather superficial, and many ideas are not very mature. However, the application of risk management should be an urgent problem to be solved in the development of project financing in China. The purpose is only to make some forward-looking exploration on the development of project financing risk management in China.
【學(xué)位授予單位】：東北財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2002
【分類號】：F062.4

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