NH公司应收账款风险计量与控制研究

发布时间：2018-04-14 16:00

本文选题：应收账款 + 信用风险　；参考：《南京信息工程大学》2017年硕士论文

【摘要】：在当今社会生活中,信用交易在我们的生活中越来越普遍,比如银行的信用卡、贷款业务,支付宝的蚂蚁花呗,都涉及到了信用交易,上述信用交易是针对个人。对企业来说,随着我国经济结构的持续调整,供给侧改革的不断深入,市场竞争的形势不断严峻,信用销售方式也会越来越流行,笔者在实习阶段对NH公司应收账款现状进行了一定的了解,得知NH公司近几年比较重视应收账款的风险管理,这也给予笔者写作本文最初灵感。通过查阅相关资料,发现在金融行业对信用风险的管理研究和模型探索较为成熟完善,应收账款同样作为一种信用资产,信用风险管理的相关研究也可以应用于应收账款风险管理中,所以本文尝试性将国外较成熟的信用风险计量工具KMV模型结合到NH公司的应收账款风险管理中去。本文首先回顾了信用风险评估方法的发展,这其中重点介绍文中运用到的KMV模型,然后对应收账款管理中存在风险、风险造成的影响及其因素进行总结,并对国内外应收账款风险管理的文献进行综述。然后描述NH公司应收账款管理的现状,通过对NH公司近五年应收账款的账面额、周转率等指标展开分析,包括与同行业上市公司的对比分析,指出NH公司现有模式下存在的如机构设置、信用政策等方面的局限性问题。接着说明了本文风险计量方法选择的原因,并选取NH公司客户样本,利用KMV模型对其风险进行应用计量。随后基于风险计量的结果对NH公司应收账款信用政策进行分析改进。最后针对NH公司应收账款现有模式下的问题提出调整管理机构设置、加强应收账款跟踪管理分析的改进建议。本文通过理论和实证结合NH公司分析了 KMV模型在实际的应收账款风险计量中的应用,对企业进行应收账款信用风险管理提供了更具体的量化思路,具有一定的参考意义,从计量的结果分析与实际的客户信用情况基本符合。但也存在一定的不足之处,KMV模型本身的适用性在于上市公司,但由于我国历史违约经验数据库的缺乏,本文只能运用理论的违约率度量风险,在实际运用的过程中需要以大量经验数据库来验证。
[Abstract]:In today's social life, credit transactions are becoming more and more common in our lives, such as bank credit cards, loan business, Alipay's ant flower, all involved in credit transactions, the credit transactions are targeted at individuals.For enterprises, with the continuous adjustment of the economic structure of our country, the deepening of supply-side reform, the situation of market competition is becoming increasingly severe, and the way of credit sales will become more and more popular.In the practice stage, the author has a certain understanding of the current situation of the accounts receivable of NH Company, and knows that the NH Company has paid more attention to the risk management of the accounts receivable in recent years, which also gives the author the initial inspiration to write this article.By consulting relevant information, we find that the management of credit risk in the financial industry and model exploration is more mature and perfect, accounts receivable is also a kind of credit assets,The related research of credit risk management can also be applied to account receivable risk management, so this paper attempts to combine the mature credit risk measurement tool KMV model with the account receivable risk management of NH company.This paper first reviews the development of credit risk assessment methods, which focuses on the introduction of the KMV model used in the paper, and then summarizes the risk in accounts receivable management, the impact of risk and its factors.And the domestic and foreign accounts receivable risk management literature review.Then it describes the current situation of account receivable management in NH Company, and analyzes the book value and turnover rate of accounts receivable of NH Company in the past five years, including the comparative analysis with listed companies in the same industry.This paper points out the limitation of NH company's existing mode, such as institution setting, credit policy and so on.Then it explains the reason of choosing the risk measurement method in this paper, and selects the customer sample of NH Company, and uses the KMV model to measure the risk.Then, based on the results of risk measurement, the credit policy of accounts receivable of NH Company is analyzed and improved.Finally, aiming at the problems in the current model of accounts receivable in NH Company, the paper puts forward some suggestions to improve the management organization setting and to strengthen the management analysis of accounts receivable tracking.This paper analyzes the application of KMV model in real accounts receivable risk measurement through theoretical and empirical analysis, which provides a more specific quantitative thinking for enterprises to carry out credit risk management of accounts receivable, which has certain reference significance.From the measurement of the results of analysis and the actual customer credit situation is basically in line with.However, the applicability of KMV model lies in the listed company. However, due to the lack of historical default experience database in China, this paper can only use the theory of default rate to measure the risk.In the process of practical application, a large number of empirical databases are needed to verify.
【学位授予单位】：南京信息工程大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.7

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