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论文编号：	12013
作者编号：	2320180796
上传时间：	2020/12/10 9:08:19
中文题目：	YD租赁公司项目决策优化研究
英文题目：	Research on Optimization of Project Decision-making in YD Leasing Company
指导老师：	郝臣
中文关键字：	融资租赁;内部收益率;项目决策
英文关键字：	Finance Lease;IRR;Project Decision Making
中文摘要：	在全世界范围内，融资租赁可以帮助企业进行资源以及资金的有效调配，并盘活企业固定资产，帮助企业实现轻资本运营，降低企业的运营成本。随着世界金融体系的不断向前发展，在过往的十多年里，全世界范围内的融资租赁业务量以及租赁物资产规模快速增长。在北美、欧盟等经济发达的国家和经济体中，租赁业务的渗透率已达到20%-30%的水平，对于很多企业而言，在银行贷款资金与资本市场融资以外，融资租赁也已经成为了获取营运资金的一个选择。本论文从项目收益和项目风险两个方面对YD租赁公司的项目决策现状进行剖析，在此基础上结合企业的实际经营提出目前企业面临的实际问题。主要体现为在进行项目决策时，对于不等周期的融资租赁项目的收益测算，需要进行手工误差调整，较为繁琐；在实际业务开展中可以通过改变业务结构的方式调整内部收益率，用以满足考核；收益测算时不考虑项目风险因素，导致收益测算与风险判断相对独立；风险判断时租赁物相关风险权重较低，风险判断偏颇；授信审批流程较长以及创新业务办理较为困难的问题。针对上述问题，本文从项目收益测算和项目风险分析两个方面对形成问题的具体原因进行了分析并在此基础上提出了相应的优化对策，主要是引入其他指标修正误差；提高对综合收益的重视；按风险调整收益测算；提高租赁物相关风险权重；部分项目缩短授信流程；提升创新业务效率等方案。以往的对于融资租赁公司的研究主要集中于租赁公司的融资端，对于投资端的研究较少。本文选取了在业内无论是资产情况、项目情况还是风险控制情况都具有一定代表性的租赁公司作为研究对象，对于现实具有一定的指导意义。本文对YD租赁公司的项目决策现状进行剖析，在此基础上结合企业的实际经营提出目前企业面临的实际问题。针对所提出的问题，对形成问题的具体原因进行了分析并在此基础上提出了相应的优化对策同时阐述优化的效果,并通过研究来指导实际工作。因此，本研究具有重要的理论和现实意义。
英文摘要：	Throughout the world, financial leasing can help enterprises effectively allocate resources and funds, revitalize their fixed assets, and help them realize light capital operation and reduce their operating costs. With the continuous development of the world financial system, the volume of financial leasing business and the scale of leasehold assets all over the world have grown rapidly in the past decade. In North America, The European Union and other economically developed countries and economies, the penetration rate of leasing business has reached 20%-30%. For many enterprises, besides bank loan funds and capital market financing, financial leasing has also become an option to obtain working capital. This paper analyzes the project decision-making status of YD Leasing Company from the two aspects of project income and project risk. On this basis, combined with the actual operation of the enterprise, it puts forward the practical problems facing the enterprise at present. This is mainly reflected in the fact that manual error adjustment is required for the income measurement of financial leasing projects with unequal periods when making project decisions, which is rather complicated. In the actual business development, the internal rate of return (IRR) can be adjusted by changing the business structure to satisfy the assessment. Project risk factors are not taken into account in income measurement, which results in relative independence between income measurement and risk judgment. The risk weight of the leasehold is low and the risk judgment is biased. The approval process of credit extension is long and the innovative business is difficult to deal with. In view of the above problems, this paper analyzes the specific causes of the problems from the two aspects of project income measurement and project risk analysis, and on this basis puts forward corresponding optimization countermeasures, mainly introducing other indicators to correct errors; To pay more attention to comprehensive income; Calculated on the basis of risk-adjusted return; Increase the risk weight related to the lease item; Some projects shorten the credit granting process; To improve the efficiency of innovative business. Previous studies on financial leasing companies mainly focus on the financing side of leasing companies, and there are few studies on the investment side. In this paper, leasing companies that are representative of the industry in terms of assets, projects and risk control are selected as the research objects, which have certain guiding significance for the reality. This paper analyzes the project decision-making status of YD leasing company, on this basis, combined with the actual operation of the enterprise to put forward the actual problems facing the enterprise at present. In view of the problems, the specific causes of the problems are analyzed and the corresponding optimization countermeasures are put forward on this basis. Meanwhile, the optimization effect is expounded, and the practical work is guided by the research. Therefore, this study has important theoretical and practical significance.
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