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论文编号：	13672
作者编号：	2320200584
上传时间：	2022/12/5 21:28:31
中文题目：	A证券公司融资融券业务信用风险管理研究
英文题目：	Research on credit risk management of margin business of securities companies
指导老师：	黄福广教授
中文关键字：	融资融券;信用风险;证券公司
英文关键字：	Margin;Credit Risk;Securities Company
中文摘要：	在融资融券余额已突破 1.7 万亿，业务风险有所积累，中国证券业协会融资融券业务委员会围绕融资融券业务风险管理结合业务属性和行业实践提出了完善思路和建议的背景下，对A证券公司融资融券业务信用风险管理进行研究，找出缺失和疏漏之处，提出完善措施，确保业务稳定开展的前提下，降低券商风险的同时也主动降低客户风险，达到双赢的结果，具有较强的现实意义。 本篇论文以 A 证券公司为研究对象，分析研究融资融券业务的信用风险管理，发现其中存在的问题，分析问题成因，并提出对策建议。本文介绍了国内外文献对融资融券业务的研究情况，在融资融券和风险管理的相关理论基础上，主要采用文献归纳法、案例研究法、比较分析法以及定性与定量分析相结合的方法分析融资融券业务信用风险管理。通过描述A证券公司融资融券业务信用风险管理现状，分析A证券公司在信用风险识别、计量及控制过程中的不足，并且在公司现有的全面风险管理体制及融资融券风险管理措施问题与成因分析的基础上，有针对性的从征信管理、风险计量、担保物管理等方面提出了优化完善方案。 通过研究得出，在融资融券业务顺周期风险已有所积累的背景下，证券公司应当通过趋势思维用好逆周期策略，丰富风险识别、计量和控制的手段，如基于客户不同的风险特征采取差异化管理方法，综合考虑市场、自身、客户、合同等因素计提业务预期信用损失，建立风险券调整机制，将投资者教育活动与风险控制相结合，提高风险管理的效率和效果。本文以A证券公司为例发现信用风险管理过程中出现的问题，提出具体应对举措，在权衡成本收益条件下，进一步提高信用风险管理成果，进而促进公司融资融券业务健康发展，也为金融市场寻求信用风险管理的有效途径。
英文摘要：	Under the background that the balance of margin lending and securities lending has exceeded 1.7 trillion yuan and business risks have accumulated, the Margin and Securities Lending Business Committee of the Securities Association of China has put forward sound ideas and suggestions around the risk management of margin trading and securities lending business combined with business attributes and industry practices, and conducted research on the credit risk management of margin lending business of securities company A, found out the shortcomings and omissions, and proposed improvement measures to ensure the stable development of business, reduce the risks of securities companies while actively reducing customer risks, and achieve win-win results. It has strong practical significance. This thesis takes A Securities Company as the research object, analyzes and studies the credit risk management of margin trading, finds the existing problems, analyzes the causes of the problems, and puts forward countermeasures and suggestions. Based on the relevant theories of margin lending and risk management, this thesis mainly uses literature induction method, case study method, comparative analysis method and a combination of qualitative and quantitative analysis to analyze the credit risk management of margin trading business. By describing the current situation of credit risk management of margin trading and securities lending business of A securities company, analyzing the deficiencies in the process of credit risk identification, measurement and control of securities company A, and on the basis of the company's existing comprehensive risk management system and analysis of the problems and causes of margin and securities lending risk management measures, the optimization and improvement plan is proposed from the aspects of credit management, risk measurement and collateral management. Through research, it is concluded that under the background that pro-cyclical risks in margin trading and securities lending business have accumulated, securities companies should use counter-cyclical strategies through trend thinking, enrich the means of risk identification, measurement and control, such as adopting differentiated management methods based on the different risk characteristics of customers, comprehensively considering factors such as the market, themselves, customers, contracts and other factors to calculate the expected credit loss of business, establish a risk securities adjustment mechanism, combine investor education activities with risk control, and improve the efficiency and effectiveness of risk management. This thesis takes A Securities Company as an example to find the problems in the process of credit risk management, puts forward specific countermeasures, and further improves the results of credit risk management under the condition of weighing costs and benefits, so as to promote the healthy development of the company's margin trading and securities lending business, and also seek effective ways for credit risk management for the financial market.
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