联系我们

论文查询结果	返回搜索

论文编号：	12760
作者编号：	2320190394
上传时间：	2021/12/8 15:42:50
中文题目：	XA公司基础设施融资租赁业务的风险管理体系优化研究
英文题目：	Research on Optimization of Risk Management System of Infrastructure Finance Leasing Business of XA Company
指导老师：	王永进
中文关键字：	融资租赁；基础设施；XA公司；风险管理
英文关键字：	Finance lease; Infrastructure; XA company; Risk management
中文摘要：	目前国内从事融资租赁业务的企业数量相对较多，但由于基础设施领域业务本身具有初始投资规模相对较大、整体收益率较低以及回报周期相对较长等特点，基础设施建设相关的投融资管理体制也在进一步深化和完善，政府资本和社会资本已悄然步入。发展多种融资方式已经成为基础设施项目运行的必然选择，融资租赁作为新兴的现代商业模式，已逐步成为经济增长的重要推动力。现阶段开展基础设施领域业务的融资租赁企业为数较少，存量的基础设施融资租赁公司依靠独特的资源禀赋，业务规模保持强劲的增长，但目前融资租赁的政策制度及法律法规体系不完善，监管部门也开始重视各级金融机构对企业融资风险的认识，这就要求相应风险管理和控制能力的提升为盈利持续扩张构筑空间。 本文主要分成五个部分，具体内容包括：第一部分为引言部分，包含了本文研究的背景、主要目的、研究意义、国内外研究综述、论文研究方法及框架。第二部分为融资租赁及风险控制的理论，也给出融资租赁对于基础设施投资建设的价值。具体为阐述融资租赁的概念及特征、融资租赁风险管理的概述和基础设施融资租赁业务的风险种类和风险分析方法。第三部分介绍XA公司基础设施融资租赁项目风险控制的现状，涵盖公司的经营状况和盈利模式，及基础设施融资租赁业务存在的问题及成因。第四部分基于对XA公司基础设施融资租赁业务提出相关风险管理体系的优化建议。第五部分为全文的总结，也包括研究的局限性及研究展望。 具体而言，论文首先介绍融资租赁及其风险管理的相关情况，再以基础设施投资模式为切入点，指出融资租赁业务模式对基础设施投资的必要性及意义，通过融资租赁来丰富产品体系满足客户的多元化需求，相对宽松的授信要求及组织结构的优势提高了决策的准确性和决策效率。XA公司利用集团产业背景，发挥集团在基建领域的客户优势、营销优势、技术优势和品牌优势，在整个产业生态圈中复制，实现专业能力在基建行业的输出，融入地方经济建设，积极支持实体经济发展。在传统模式、PPP模式和BT运作模式下，在投资建设、移交回购、运营等阶段面临不同的风险，包括法律风险、信用风险等，这就得出基础设施融资租赁也会面临常见的政治法律风险、内控风险、信用风险、操作风险和合规风险。 针对XA公司目前正在开展的基础设施融资租赁业务的现状，从XA公司经营概况及盈利模式出发，在复杂的宏观经济环境下，新冠疫情的突发、融资租赁行业监管办法的出台和财政部的租赁会计准则最新修订等，基础设施融资租赁业务规模、合同金额均受到影响。监管明确加快剥离城投公司政府融资职能，逐步控制其新增债务，到为基建领域补短板而保证城投公司合理的贷款需求等政策，再到妥善处理城投公司即将到期的债务，这一连贯的政策都对基础设施融资领域产生重大影响。通过采取内部因素评价模型和对比分析的研究方法，全面系统梳理XA公司的业务流程、风险管理架构，明确揭示产生各类风险的成因。主要包括制度流程的不健全或运行不到位、信息系统不完善、客户结构不理想、关键岗位员工专业能力差、风险与收益不匹配、项目合规管理不积极等原因，造成XA公司基础设施融资租赁业务面临内控风险、信用风险、操作风险和合规风险。 围绕XA基础设施融资租赁业务的风险管理存在问题的成因，XA公司依据服务集团主业为主的理念和金融产业双重风控的目标，提出适合公司自身发展的基础设施融资租赁业务的风险管理原则，也即匹配性、全面性、有效性和独立性原则，提出XA公司风险管理体系的具体优化建议。一是优化已有的风险管理架构，做到加强分析预判来重点识别风险，健全管控体系来加强流程的控制，实现全流程资产管理并强化违约处置和精细化岗位职责的设定。二是完善的风险评估模型，建立区域与平台主体信用组合的资信评估体系。搭建信息系统，以以集团全领域、全要素、全生命周期的专业风险管理技术支持体系为基础，创建公司融资租赁业务数据和管理信息数据的运营、计量和分析中心，开发业务运营全流程和产品服务全流程。在公司内部实现融资租赁业务运营的全流程再造，做好业务管理与运营的衔接；在外部整合头部企业的服务资源，整合客户服务的各节点，以用户体验为中心打造统一的融资租赁客户服务门户，打通增值服务的链条。三是重塑全员参与的风险管理文化，贯彻审慎经营风险的基本管理理念，通过加强流程操作的严肃性管理，及时解读并传导最新的政策文件，深化以产助融及以融促产的理念，薪酬绩效改革等方法来让各条线主观上注重风险的防范。 研究得出XA公司基础设施融资租赁业务的风险管理体系优化建议，可以帮助XA公司在识别和分析中判断得出项目的切实可行性，让其选择出适宜推进的项目，并对相关融资租赁的项目进行评估，识别可能面临的风险及应该采取的控制和管理的方式，提供具备指导性、可操作性的建议。实现对基础设施融资租赁项目的全面、连续和系统性的管控，在公司可接受的风险偏好范围内，最大化XA公司基础设施融资租赁业务的经营利润，并力求提升XA公司在基础设施业务方面的风险管理和控制能力，同时，也希望能给国内有限的从事基础设施融资租赁业务的公司在风险管理方面一定启发。
英文摘要：	Now domestic enterprises engage in financing lease business relatively more, but the infrastructure business itself which has low initial investment is relatively large, the overall yield and relatively long return cycle characteristics, related infrastructure construction investment and financing management system are also deepening, government capital and social capital has quietly entered. Developing variety of financing methods has become an inevitable choice for the operation of infrastructure projects. Financial lease, as a new modern business model, has gradually become an important driving force for economic growth. Developing business of infrastructure financing lease enterprise at present stage one less, in the stock of infrastructure finance leasing company, relying on the unique resources endowment, maintain strong growth business scale, but the current financing lease in the policy and the imperfect legal system, regulators are beginning to attach importance to the understanding of the financial institutions at all levels to the enterprise financing risk, This requires the improvement of risk management and control ability to build space for continuous profit expansion. This paper is mainly divided into five parts, the specific content includes: The first part is the introduction, including the research background, main purpose, research significance, domestic and foreign research review, research methods and framework of the paper. The second part is the theory of finance lease and risk control, and also gives the value of finance lease for infrastructure investment and construction. Specifically, the concept and characteristics of financial leasing, overview of financial leasing risk management and risk types and risk analysis methods of infrastructure financial leasing business are described. The third part introduces the current situation of risk control of XA Company's infrastructure finance lease project, covering the company's operating status and profit model, as well as the existing problems and causes of infrastructure finance lease business. The fourth part based on XA company infrastructure finance lease business put forward related risk management system optimization suggestions. The last part is the summary and the limitation of the research. To be specific, the paper firstly introduces the financial leasing and its risk management, and then points out the necessity and significance of the financial leasing business model for infrastructure investment by taking the infrastructure investment model as the entry point, so as to enrich the product system and meet the diversified needs of customers through financial leasing. Relatively loose credit requirements and advantages of organizational structure improve the accuracy and efficiency of decision-making. XA Company takes advantage of the group's industrial background, gives full play to the group's customer advantages, marketing advantages, technological advantages and brand advantages in the field of infrastructure construction, replicates them in the entire industrial ecosystem, realizes the output of professional ability in infrastructure industry, integrates into local economic construction, and actively supports the development of real economy. In the traditional mode, PPP mode and BT mode of operation, different risks are faced in the stages of investment and construction, transfer and repurchase, and operation, including legal risks and credit risks. It is concluded that infrastructure financial leasing will also face common political and legal risks, internal control risks, credit risks, operational risks and compliance risks. For XA company is under the present situation of the financial lease business, starting from the XA company’s profit model, the complex of macro economic environment, COVID-19, financing lease industry regulatory measures introduced, and the Ministry of Finance lease accounting criterion of latest revision, such as infrastructure financing lease business scale, the contract amount are affected. The regulation clearly speeds up the stripping of the government financing function of city investment companies, gradually controls their new debt, and ensures the reasonable loan demand of city investment companies to make up for the shortcomings of the infrastructure sector, and properly deals with the upcoming debts of urban investment companies. All these coherent policies have a significant impact on the infrastructure financing field. In this paper, the internal factor evaluation model and comparative analysis are adopted to comprehensively and systematically comb the business process and risk management framework of XA Company and clearly reveal the causes of various risks. Its mainly includes the system is not sound or not running in place, the structure of the incomplete information system, the customer structure is not reasonable, employee professional ability is poor, the benefits and risks do not match, project compliance management do not actively effect, which cause internal control risk, credit risk, operational risk and compliance risk. Around the XA infrastructure financing lease business risk management, based on its business philosophy and development characteristics and the risk management principles, namely matching, the principle of comprehensiveness, effectiveness and independence, XA company risk management system of the specific optimization Suggestions. First, optimize the existing risk management structure, strengthen the analysis and prediction to identify risks, improve the control system to strengthen the control of the process, realize the asset management of the whole process, strengthen the default disposal and refine the setting of job responsibilities. Second, perfect risk assessment model and establish credit assessment system of regional and platform subject combination. Build an information system, set up an operation, measurement and analysis center for the company's financial leasing business data and management information data based on the professional risk management technical support system of the group in all fields, all elements and the whole life cycle, and develop the whole process of business operation and product service. Realizing the whole process of financial lease business operation in the company, and do great job between business management and operation; Externally, the service resources of the leading enterprises are integrated, and all nodes of customer service are integrated. With user experience as the center, a unified customer service portal for financial leasing is built, and the chain of value-added services is opened. To reshape the participation of risk management culture, implement prudent management risk of the basic management idea, by strengthening the seriousness of the process operation management, timely interpretation and conduction of the latest policy documents, and help deepen produce melting, compensation methods such as performance reform to make lines subjectively, pay attention to risk prevention. Optimal suggestions of risk management system can help the identification and analysis to judge the XA company practical feasibility of the project, to choose the appropriate propulsion project, and to evaluate the related financial leasing project, identify possible risks and should adopt the method of control and management, Provide guidance and actionable suggestions. To achieve comprehensive, continuous and systematic management and control of infrastructure finance lease projects, maximize the operating profits of XA company's infrastructure finance lease business within the range of risk preferences acceptable to the company, and strive to improve XA company's risk management and control ability in infrastructure business. Meanwhile, It also hopes to inspire the limited domestic companies engaged in infrastructure financial leasing business in terms of risk management.
查看全文：	预览  下载(下载需要进行登录)