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论文编号：	8237
作者编号：	2120132739
上传时间：	2016/6/4 11:08:26
中文题目：	融资租赁的售后回租模式研究
英文题目：	The study on leaseback mode of finance lease
指导老师：	王永进
中文关键字：	融资租赁；售后回租；业务模式
英文关键字：	financing lease；lease-back；businesses model
中文摘要：	自2008年以来，世界主要经济体都进行了不同程度的量化放大，各国的利率均趋于较低的水平。近年来由于我国宏观经济增长速度放缓、资本市场存在内部流动的紧张，实体经济的资金短缺已成为显著问题。随着我国金融监管政策的放宽及资本开放程度逐渐加大，选择融资租赁来解决现金流紧张的企业数量也逐渐增多。 广义的融资租赁业务模式囊括了的基本交易模式、结构安排、资金来源及风险控制措施等。狭义的业务模式则主要是指融资租赁的基本交易模式，本文主要对狭义的基本交易模式进行分析探讨。根据承租人的不同需求，出租人提供不同的服务，逐渐形成了不同的业务模式。各种业务模式的形成，使得融资租赁交易更加科学化和规范化。事实上，融资租赁的基本原理和功能是不变的，但融资租赁交易中的各方所掌握的资源是不尽相同的，将这些资源进行科学合理的整合便形成了不同的交易模式。 融资租赁的根本发展出路就是在于创新，实质上就是对业务模式的创新，通过对融资租赁业务模式的研究可以使作为投资人的融资租赁公司根据自身的优势选择适当的业务模式，承租人也能有更高效的选择出租人，减少信息不对称而造成的损失。由于售后回租在我国是融资租赁诸多业务模式中应用最多的模式，所以本文希望通过对售后回租应用广泛的内因研究能够对未来融资租赁的业务模式创新提供一些参考信息，并对融资租赁的业务模式发展提出对策建议，对其他模式的研究起到推广作用。 本文以狭义的融资租赁业务模式为研究对象，首先查阅了国内外的相关文献资料，进行了阅读和整理，阐述了我国融资租赁业的发展及现状，及各类融资租赁模式的优缺点。其次重点分析了售后回租的特征和优势，及在我国的实践和存在的风险。而后通过案例研究的方法对两个企业的售后回租案例进行了财务及操作分析，定量与定性的分析了大型企业和小微企业采用售后回租的优势。最后提出些政策建议。本文的创新之处在于通过成本分析的方法揭示出类似于案例中的经营状况的企业采取售后回租的优势。案例中的承租企业均可利用自身优势进行因地制宜地与出租人寻求多方面的合作渠道，希望也为此类业务操作提供一些参考。
英文摘要：	Since 2008, the world's major economies have different degrees of quantitative amplification, many countries tend to have lower level of interest rates. These years China's macroeconomic growth is slowing down, the internal liquidity of capital market has tensions, and the shortage of funds have become a significant problem in the real economy. With the openness of capital market and relaxation of our financial regulatory policy, more and more companies choose the financing leases to solve tight cash flow problem. Generalized financial leasing business model include the basic trading patterns, structural arrangements, funding sources and risk control measures. Narrow business model is mainly refers to the basic financial leasing trading patterns. In this paper , mainly study on the narrow sense of the basic trading patterns. Depending on the needs of the lessee the lessor to provide different services. Gradually formed a different business model. The formation of various business models made finance lease transactions more scientific and standardized. The basic principles and functions of finance lease are unchanged, but in the financing lease transactions the resources mastered in the parties are not the same. So integrate these resources rationally will form different trading patterns. The fundamental way of financial leasing development is innovation. It is a business model innovation essentially. Through the study of financial leasing business model can make financial leasing companies to select the appropriate business model according to their own advantage. The lessee also can choice lessor more efficiently. This paper aims to study the sale-leaseback of financing lease model ,and want to provide some reference information for future financing lease business model innovation. Then put forward some countermeasures , hope these can spread to development study of financial leasing business model. In this paper, mainly study the narrow financial leasing business model. First consult the relevant domestic and overseas literature for reading and sorting. Describes the development and status quo of China's financial leasing industry, also the advantages and disadvantages of all kinds financial leasing models. Secondly it analyzes the practice and risk present in China, features and advantages of leaseback. Then study on the financial and operational analysis of two companies leaseback case by the method of case study. Quantitatively and qualitatively analysis the advantages of leaseback which the large enterprises and small micro enterprises adopt. Finally, provide some policy recommendations. The innovation of this paper is to reveal advantage of leaseback by the method of cost analysis. In the case ,the lessee can use their own local conditions and advantages to seek a wide range of cooperation channels with the lessor, hope to provide some reference for such business operations.
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