本文關(guān)鍵詞：資產(chǎn)證券化及在基礎(chǔ)設(shè)施建設(shè)中的應(yīng)用研究　出處：《上海交通大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

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【摘要】：本文首先對(duì)資產(chǎn)證券化進(jìn)行了概述，包括資產(chǎn)證券化的基本定義、分類、交易結(jié)構(gòu)和操作流程、以及基本的定價(jià)原理。以史為鏡可以知興替，文章接著介紹了資產(chǎn)證券化在歐美發(fā)達(dá)國家的發(fā)展歷程，了解到資產(chǎn)證券化對(duì)于發(fā)達(dá)國家經(jīng)濟(jì)的發(fā)展起到了巨大的促進(jìn)作用；在國際上資產(chǎn)證券化迅速發(fā)展的背景下介紹了資產(chǎn)證券化在我國的發(fā)展情況，，資產(chǎn)證券化在我國還處于發(fā)展初級(jí)階段，因此發(fā)達(dá)資本市場(chǎng)的發(fā)展是具有借鑒意義的。文章接下來分析了目前我國基礎(chǔ)設(shè)施建設(shè)的基本情況和融資困境，進(jìn)而引出資產(chǎn)證券化的融資模式。 在解決地方政府債務(wù)的目的下，文章隨后分析了在基礎(chǔ)設(shè)施融資中應(yīng)用資產(chǎn)證券化的必要性和可行性，并結(jié)合真實(shí)案例的分析提出了創(chuàng)新性的融資方案設(shè)計(jì)，以及在資產(chǎn)證券化實(shí)際操作中不可忽視的一系列關(guān)鍵問題。在實(shí)際操作時(shí)，我們不僅要從金融技術(shù)層面分析用于證券化的基礎(chǔ)資產(chǎn)，設(shè)計(jì)可行的交易結(jié)構(gòu)及合約模式，更要根據(jù)我國的法律、會(huì)計(jì)及稅收等制度，從本質(zhì)解決資產(chǎn)證券化的合法合規(guī)性問題。只有這樣，才能使得交易結(jié)構(gòu)既能合法合規(guī)又能充分發(fā)揮資產(chǎn)證券化這種融資方式的獨(dú)特優(yōu)勢(shì)。 基于上述問題，文章在最后提出了相關(guān)建議。為了使得資產(chǎn)證券化在我國能更加順暢的發(fā)展，并充分應(yīng)用于基礎(chǔ)設(shè)施建設(shè)中,還需要在一些方面做出完善,包括法律法規(guī)的健全、會(huì)計(jì)制度的完善，以及市場(chǎng)運(yùn)行的監(jiān)管等。通過市場(chǎng)環(huán)境的改善以及適當(dāng)?shù)囊龑?dǎo)，資產(chǎn)證券化的融資方式在我國將會(huì)通過它的優(yōu)勢(shì)更好地促進(jìn)金融經(jīng)濟(jì)的發(fā)展。
[Abstract]:This paper first summarizes the asset securitization, including the basic definition of asset securitization, classification, transaction structure and operation process, as well as the basic pricing principles. The article then introduces the development of asset securitization in developed countries in Europe and the United States, understand that asset securitization has played a huge role in promoting the economic development of developed countries; Under the background of rapid development of asset securitization in the world, the development of asset securitization in China is introduced. Asset securitization is still in the primary stage of development in China. Therefore, the development of developed capital markets is of great significance. Next, the paper analyzes the basic situation and financing difficulties of infrastructure construction in China, and then leads to the financing mode of asset securitization. In order to solve the local government debt, the paper then analyzes the necessity and feasibility of using asset securitization in infrastructure financing, and puts forward innovative financing scheme design combined with the analysis of real cases. In the practical operation, we should not only analyze the basic assets used in securitization from the aspect of finance and technology. In order to design a feasible transaction structure and contract model, we should solve the legal compliance problem of asset securitization from the essence according to the legal, accounting and taxation systems of our country. Only in this way can the trading structure be legal and compliant and give full play to the unique advantages of asset securitization. In order to make the asset securitization in our country more smooth development and fully applied in infrastructure construction, we still need to make some improvements. Including the sound laws and regulations, the improvement of accounting system, as well as the supervision of market operation, etc., through the improvement of the market environment and appropriate guidance. The financing mode of asset securitization will promote the development of financial economy through its advantages in China.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.51

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