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论文编号：	11224
作者编号：	2320170345
上传时间：	2019/12/9 16:12:02
中文题目：	商业保理资产证券化风险管理研究—以新希望1号产品为例
英文题目：	Research on Risk Management of Commercial Factoring Asset Securitization—A Case Study of New Hope No.1
指导老师：	王永进
中文关键字：	商业保理;应收账款;资产证券化;风险管理
英文关键字：	Business Factoring;Accounts Receivable;Asset Securitization;Risk Management
中文摘要：	2018年是我国商业保理行业发展历程中非常重要和关键的一年，也是极为不平凡的一年，商业保理行业遇到了自诞生以来最大的寒潮。受经济金融大环境的影响，多数商业保理企业出现融资困难，尤其是民营背景的保理公司。 融资问题一直是商业保理行业发展的疼点、难点，融资规模和融资成本成为衡量保理公司竞争力、盈利能力的重要指标。资产证券化是近年来发展最快的结构性融资方式，以未来可预见的现金流作为基础，通过发行资产支持证券的方式进行债务融资。2018年保理资产证券化发展迅猛，这些成功发行的案例为保理行业开展资产证券化提供了典型的范本。 各类风险的管理在资产证券化的过程中尤为重要，需要分析出各个风险点及管理策略，以便能够更好的运用资产证券化的方式筹集资金。本文通过对商业保理资产证券化业务进行整体分析后，研究业务存在的主要风险，并提出各类风险的主要应对方法。 本文以商业保理资产证券化的风险管理作为研究对象，为商业保理公司融资实践提供更多的参考。本文首先对商业保理行业和商业保理资产证券化的发展现状进行了简要说明。之后，本文主要分析商业保理资产证券化的风险及管理策略，以新希望1号产品为案例进行了剖析，具体分析案例的资产证券化流程、存在的风险和管理策略。最后本文基于以上的分析得出自己的结论和建议，希望通过本文的研究，可以为商业保理公司运用资产证券化融资提供风险管理方面的参考。
英文摘要：	2018 is a very important and critical year in the development of the commercial factoring industry in China, and it is also a very extraordinary year. The commercial factoring industry has encountered the biggest obstacle since its birth. Influenced by the economic and financial environment, most commercial factoring companies have difficulties in financing, especially those with private background. Financing has always been a problem in the development of commercial factoring industry. Financing scale and financing cost have become important indexes to measure the competitiveness and profitability of factoring companies. As the fastest developing method of financing in recent years, asset securitization plays an irreplaceable role in structed finance, asset securitization relies on the predictable cash flow, issuing asset-backed securities to make things work. In 2018, factoring asset securitization developed rapidly. These successful issuance cases provide a typical model for factoring industry to carry out asset securitization. The management of various risks is particularly important in the process of Asset Securitization. It is necessary to analyze the risk points and management strategies in order to better use the way of asset securitization to raise funds. Through the analysis of commercial factoring asset securitization, the thesis studies the main risks existing in the business, and puts forward the main methods to deal with various risks. The thesis takes the risk management of commercial factoring asset securitization as the object of the research, and provides more reference for the financing practice of commercial factoring companies. Firstly, the thesis gives a brief description of the development status of commercial factoring industry and commercial factoring asset securitization. After that, the thesis discusses the risk management of commercial factoring asset securitization, and takes New Hope No. 1 as an example, specific study the asset securitization process, risks and management strategies. Finally, based on the above analysis, the thesis draws its own conclusions and suggestions. It is hoped that this study can provide risk management reference for commercial factoring companies to use asset securitization financing.
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