渤海金控财务风险控制研究

发布时间：2018-06-20 20:03

本文选题：融资租赁 + 财务指标分析法　；参考：《湘潭大学》2017年硕士论文

【摘要】：融资租赁是指出租人根据承租人对租赁物的特定要求和对供货人的选择,出资向供货人购买租赁物,并租给承租人使用,双方订立租赁合同,承租人取得使用设备的权利,定期向出租人支付租金。因此,融资租赁兼具融资与融物的功能,这使得对融资租赁企业财务风险的研究意义重大。论文的案例公司渤海金控投资股份有限公司是我国唯一一家A股上市的融资租赁公司,同时也是我国最早上市的融资租赁公司,在国内融资租赁行业中居于领军地位。自成立以来,公司规模和业务不断扩大,公司的发展壮大中伴随着各种风险,因此本文试图识别、分析、防范和控制渤海金控的财务风险。论文首先从国内外文献综述入手,国外财务风险管理的研究起步早也较为完整,主要集中在财务风险管理概念界定、财务风险识别与防范两个方面。国内的财务风险管理研究主要集中在财务风险管理定义、财务风险分类、识别和管理三个方面。本文在分析财务风险中采用了财务指标分析法和层次分析法,通过分析得出如下结论:渤海金控经营运转不良甚至可能发生困难,财务状况存在问题,部分评价指标出现异常;存在筹资风险主要体现在资产负债率高,长期偿债能力不足,资本结构不合理,企业过于依赖银行借款,融资方式单一;存在投资风险主要体现在投资收益增长率远低于投资现金流量增长率,投资效果没有显现、营运能力下降、盈利能力减弱;资金回收风险主要体现在长期应收租赁款回收质量下降。在分析风险状况和成因的基础上结合公司实际情况提出相应的财务风险防范和控制策略,主要有扩大筹资渠道如资产证券化等方式、确定合理的资本结构、完善投资决策评价制度、创新租赁产品提高公司竞争力、利用金融衍生产品有效规避汇率和利率风险、充分利用保税港区的优惠政策、加强对信用风险的管理等。本文站在出租人的角度以渤海金控公司作为分析对象,对渤海金控的财务风险进行分析,并在此基础上提出防范措施,希望为我国的融资租赁行业提供有益借鉴。
[Abstract]:A financial lease means that the lessor, in accordance with the specific requirements of the lessee for the lease item and the choice of the supplier, shall contribute to the purchase of the lease item from the supplier and lease it to the lessee for use, and the two parties shall conclude a lease contract, and the lessee shall acquire the right to use the equipment, Rent is paid to the lessor on a regular basis. Therefore, financial leasing has the functions of financing and financing, which makes the study of financial risk of financial leasing enterprises of great significance. The case company of this paper is Bohai Golden Investment Co., Ltd., which is the only A share listed financial leasing company in China. It is also the earliest listed financial leasing company in China, and occupies the leading position in the domestic financial leasing industry. Since its establishment, the size and business of the company have been expanding, and the development of the company is accompanied by a variety of risks, so this paper tries to identify, analyze, prevent and control the financial risks of Bohai gold control. This paper begins with the literature review at home and abroad. The research on financial risk management abroad starts early and is relatively complete. It mainly focuses on the definition of the concept of financial risk management, the identification and prevention of financial risk. Domestic financial risk management research focuses on the definition of financial risk management, financial risk classification, identification and management. This paper adopts the financial index analysis method and the analytic hierarchy process in the analysis of the financial risk, and draws the following conclusions: the Bohai gold control operation is poor or even may have difficulties, the financial situation has problems, and some evaluation indexes are abnormal; The existence of financing risk is mainly reflected in the high ratio of assets and liabilities, insufficient long-term solvency, unreasonable capital structure, excessive reliance on bank loans, and a single financing mode. The existence of investment risk mainly reflects that the growth rate of investment income is far lower than the growth rate of investment cash flow, the investment effect is not obvious, the operation ability is decreased, and the profit ability is weakened; The risk of capital recovery is mainly reflected in the decline in the quality of long-term lease receivables. On the basis of analyzing the risk situation and the cause of formation, the paper puts forward the corresponding financial risk prevention and control strategy combined with the actual situation of the company, mainly by expanding the financing channels, such as asset securitization, and determining the reasonable capital structure. Improve investment decision evaluation system, innovate leasing products to improve the competitiveness of the company, use financial derivatives to effectively avoid the exchange rate and interest rate risk, make full use of the preferential policies in bonded port area, strengthen the management of credit risk, etc. From the perspective of lessor, this paper analyzes the financial risk of Bohai gold control company, and puts forward some preventive measures in the hope of providing useful reference for our country's finance leasing industry.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F830.42;F832.39

【参考文献】