旅游景区企业资产证券化融资方案研究
发布时间：2018-12-30 17:42
【摘要】：旅游行业在中国经济发展中扮演着日益重要的角色，旅游行业的投资具有投资额大、周期长、综合性强和收益稳定的特点。现有的传统融资模式难以满足投资需求，拓宽融资渠道成为旅游行业发展的当务之急。随着近年来企业资产证券化融资方式的兴起，相关制度的不断完善，为旅游行业的融资带来了新机遇。 本文首先从资产证券化的概念和原理出发，介绍了交易对手，分析了交易流程，并结合资产证券化的制度建设，阐述了资产证券化融资对企业的积极作用，包括拓宽融资渠道、改善资产负债结构、提高资产流动性、降低融资成本、树立创新形象等。同时，基于旅游行业融资的特点，对比了现有的融资模式，分析旅游行业资产证券化融资的可行性和必要性。 本文重点分析了“欢乐谷”专项计划，结合目前已发行的企业资产证券化产品的关键要素，建立了企业资产证券化产品的评价体系。随后，从实务出发，，针对峨眉山旅游发展股份有限公司的融资需求设计了资产证券化产品，分析了产品的风险并给出了风险应对方案，应用评价体系进行评价，并参考同期固定收益产品给出参考预期收益率。本文旨在对旅游行业的资产证券化融资进行理论和实践的探索，给出有价值的建议。
[Abstract]:Tourism industry plays an increasingly important role in China's economic development. The investment of tourism industry has the characteristics of large investment, long period, strong comprehensiveness and stable income. The existing traditional financing mode is difficult to meet the investment demand, and widening the financing channels has become the top priority for the development of tourism industry. With the rise of enterprise asset securitization financing mode and the improvement of related system in recent years, it brings new opportunities for tourism financing. Starting from the concept and principle of asset securitization, this paper first introduces the counterparty, analyzes the transaction process, and expounds the positive role of asset securitization financing on enterprises, including broadening the financing channels, combined with the system construction of asset securitization. Improve the structure of assets and liabilities, improve the liquidity of assets, reduce the cost of financing, set up an innovative image and so on. At the same time, based on the characteristics of tourism industry financing, this paper compares the existing financing mode and analyzes the feasibility and necessity of tourism industry asset securitization financing. This paper emphatically analyzes the special plan of Happy Valley and establishes the evaluation system of enterprise asset securitization products according to the key elements of the issued enterprise asset securitization products. Then, according to the financing demand of Emeishan Tourism Development Co., Ltd., the paper designs the asset securitization product, analyzes the risk of the product and gives the risk response scheme, and applies the evaluation system to evaluate the asset securitization product. And reference to the same period fixed income products to give the reference expected rate of return. The purpose of this paper is to explore the theory and practice of asset securitization financing in tourism industry and give some valuable suggestions.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F592.6;F590.6
本文编号：2395916
[Abstract]:Tourism industry plays an increasingly important role in China's economic development. The investment of tourism industry has the characteristics of large investment, long period, strong comprehensiveness and stable income. The existing traditional financing mode is difficult to meet the investment demand, and widening the financing channels has become the top priority for the development of tourism industry. With the rise of enterprise asset securitization financing mode and the improvement of related system in recent years, it brings new opportunities for tourism financing. Starting from the concept and principle of asset securitization, this paper first introduces the counterparty, analyzes the transaction process, and expounds the positive role of asset securitization financing on enterprises, including broadening the financing channels, combined with the system construction of asset securitization. Improve the structure of assets and liabilities, improve the liquidity of assets, reduce the cost of financing, set up an innovative image and so on. At the same time, based on the characteristics of tourism industry financing, this paper compares the existing financing mode and analyzes the feasibility and necessity of tourism industry asset securitization financing. This paper emphatically analyzes the special plan of Happy Valley and establishes the evaluation system of enterprise asset securitization products according to the key elements of the issued enterprise asset securitization products. Then, according to the financing demand of Emeishan Tourism Development Co., Ltd., the paper designs the asset securitization product, analyzes the risk of the product and gives the risk response scheme, and applies the evaluation system to evaluate the asset securitization product. And reference to the same period fixed income products to give the reference expected rate of return. The purpose of this paper is to explore the theory and practice of asset securitization financing in tourism industry and give some valuable suggestions.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F592.6;F590.6
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