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论文编号：	12970
作者编号：	2320190648
上传时间：	2021/12/15 19:30:46
中文题目：	Z信托公司自有资金投资管理优化研究
英文题目：	Study on the optimization of Z Trust Company''s self-owned capital investment
指导老师：	覃家琦
中文关键字：	信托；信托公司；自有资金；投资；工作流程
英文关键字：	Trust; Trust company; Its own capital; Investment; The working process
中文摘要：	随着信托行业的发展，我国信托业表外资产规模仅低于银行业，是当前金融领域和经济发展中的重要力量。在当前信托公司提质增效加速转型的背景下，与表外受托资产管理规模持续压降形成鲜明对比的是表内自有资产的持续增加。自有资产是信托公司开展业务的基石与最后一道屏障，对自有资产投资管理工作亦变得愈发重要。 信托公司的资产分为表内自有资产及表外受托管理资产两部分。在行业目前受托管理资产数倍于自有资产的情况下，自有资产往往易被忽略。信托行业对防范系统性金融风险至关重要，因此在加速转型过程中不但要加强对受托资金的管理，更应对信托业的自有资金的投资管理进行分析。对于信托行业、公司自有资金投资的研究有助于行业发展以及经营管理。 自有资产来源于自有资金的投资行为。本文围绕信托公司自有资金投资工作流程优化，采用规范研究的研究方法同时结合具体案例，介绍了信托行业自营业务情况，并综述了目前的研究现状。以此为基础，对行业自营业务情况进行了分析，然后对Z信托公司自营业务进行研究并结合其案例详细分析。本文首先介绍了Z信托的经营和财务状况，从投资动因、投资决策、投资执行及投后管理四个方面阐述了案例公司在自有资金投资工作中存在的问题，在投资动因方面发现的问题包括对安全性重视不足、监管指标持续承压及交易成本过高三个问题；在投资决策方面存在评审人员结构不合理及决策过程较为单一两个问题；在投资执行方面存在工作程序混乱、缺乏明细计划及协同合作机制不畅三个问题；在投后管理方面存在过程管理流于形式、对投资标的关注不足及缺乏预警机制三个问题。然后结合案例进一步分析总结了上述问题的成因，即原有资产配置无法承载信托规模的高速增长，组织结构偏于信托业务发展导致自有资金投资专业化人才不足，投资渠道受限，投资运营流程及分工不明确。最后针对上述问题在现有政策与制度框架下，提供了案例公司的改进方向，一是为提升自有资本的承载能力充分利用公司经营业绩及引进外部资金，压实投资资产，二是为解决投资决策方面的问题提出了合理配置决策权限，明晰权责利，丰富投资渠道的措施；三是为解决投资执行方面的问题提出了积极推进组织机构变革，明确分工的建议；四是针对投后管理方面的问题提出完善投资项目管理制度及建立风险预警机制的先进管理方法。 本文通过理论研究并结合实际工作实践对Z信托公司的自有资金投资涉及的各项工作提出了改善与优化措施，旨在促进公司发展并为其他同业机构提供一定借鉴。主要研究结论是提出金融结构在进行投资项目的管理时应当向实体企业延伸，从根源上掌控项目情况及保证项目质量，促进经济发展。
英文摘要：	With the development of trust industry, the scale of off-balance sheet assets of trust industry in China is only lower than that of banking industry, which is an important force in the current financial field and economic development. Under the background of accelerating the transformation of trust companies to improve quality and efficiency, in sharp contrast to the continuous pressure drop of off-balance sheet entrusted asset management scale, the on-balance sheet owned assets continue to increase. Self-owned assets are the cornerstone and the last barrier for trust companies to carry out business, and the investment management of self-owned assets is becoming more and more important. The assets of a trust company are divided into two parts: on-balance-sheet assets and off-balance-sheet assets under entrusted management. Under the situation that the assets under entrusted management in the industry are several times of its own assets, its own assets are often easily ignored. Trust industry is very important to prevent systemic financial risks, so in the process of accelerating the transformation, we should not only strengthen the management of entrusted funds, but also analyze the investment management of trust industry's own funds. The research on trust industry and company's own capital investment is helpful to the development of the industry and management. Self-owned assets are investments made from self-owned funds. This paper focuses on the optimization of trust company's own capital investment workflow, adopts the research method of standard research and combines with specific cases to introduce the self-management business of trust industry, and summarizes the current research status. Based on this, the paper analyzes the self-support business of the industry, and then studies the self-support business of Z Trust Company and makes a detailed analysis based on its case. This article first introduces the operating and financial conditions of the Z trust, from investment motivation, investment decision-making, investment management after execution and shot four aspects this paper expounds the case problems existing in the company work in their own capital investment, the investment motive found problems including insufficient attention to security and regulatory indicators continue to pressure and high transaction costs three questions; In the aspect of investment decision, there are two problems: unreasonable structure of review staff and relatively single decision process; There are three problems in the execution of investment, namely, the disordered working procedure, the lack of detailed plan and the poor cooperation mechanism. In the aspect of post-investment management, there are three problems: the process management becomes a mere formality, the attention to the investment object is insufficient and the early warning mechanism is lacking. Then, combined with the case, it further analyzes and summarizes the causes of the above problems, namely, the original asset allocation can not bear the rapid growth of trust scale, the organizational structure is biased towards the development of trust business, resulting in the shortage of professional talents for investment of own funds, limited investment channels, and unclear investment operation process and division of labor. Finally based on the above problems in the existing policy and institutional framework, provides the improvement direction of case company, one is to improve the bearing capacity of their own capital make full use of the company business performance and the introduction of external funding, compaction investment assets, the second is to solve the investment decision-making problems put forward the rational allocation of decision-making authority, clear QuanZeLi, rich investment channels; Third, to solve the problems of investment implementation, it puts forward suggestions to actively promote organizational reform and clear division of labor; Fourthly, advanced management methods of perfecting investment project management system and establishing risk early warning mechanism are put forward in view of the problems of post-investment management. Through theoretical research and combined with practical work practice, this paper puts forward improvement and optimization measures for various work related to Z Trust Company's own capital investment, aiming to promote the development of the company and provide certain reference for other industrial institutions. The main conclusion is that the financial structure should be extended to the real enterprise in the management of investment projects, so as to control the project situation and guarantee the project quality from the root and promote economic development.
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