Y资产管理公司处置不良资产的模式研究
发布时间：2019-01-26 17:41
【摘要】：金融在现代经济中发挥着核心作用。纵观全球性的历次金融危机,许多国家的金融体系都遭遇到巨额不良资产问题的困扰。如何处置银行业不良资产已成为一个普遍存在的国际性问题,受到了各国政府与社会各界的普遍关注。当前,我国经济增速有所放缓,金融风险、特别是不良贷款风险不断显现,个别东部沿海地区金融风险积聚较快,钢铁、造船等行业信用风险较高,外向型企业、地方融资平台和房地产开发企业信贷风险不容忽视。整体看,未来我国银行业不良贷款余额和比率已经出现“爬坡”现象,如何有效缓释风险,防止其扩散和蔓延,不仅关系到商业银行自身的经营安全,也影响到金融支持实体经济的力度和效果,是一个需要认真面对的现实课题。自1999年国务院成立的信达、华融、东方、长城四家国有资产公司至今,一直担负着专职处置从国有商业银行中剥离出来的不良金融资产,并且取得了良好的经济和社会效果。本文通过重点对Y资产管理公司不良资产处置方式进行分析,指出现有的处置方式存在着简单、回收率不高、市场化程度较低等问题,针对这些问题提出相应的改进策略及不良资产处置方式的改进化设计。本文特色与创新:(1)针对拍卖出售处置方式存在的问题,提出利用网络与推介会扩大宣传渠道和对拍卖行采取招投标的形式进行择优选择,加大不良资产营销的力度;(2)针对债务重组处置方式存在的问题,提出利用资产打包方式处置不良资产,不断拓宽融资渠道,做好尽职调查工作,从而提高不良资产的处置效率;(3)针对协议转让处置方式存在的问题,提出对不良资产处置进行科学定价,重视定价谈判和谈判策略,同时,注意防范员工的道德风险,促使不良资产价值回收的最大化;(4)针对目前不良资产处置方式较为简单、处置效率与收益较低的现状,提出几种改进化的处置方式:建立不良资产超市、资产证券化、开展信托处置不良资产,并说明其在提高处置收益、处置效率和达到现金回收最大化方面所具备的优势性;(5)建议资产公司未来向投行方向发展,以资产处置为核心,利用网络优势、经验优势及客户资源优势,开拓大投行业务新模式,促使其在更广阔的范围内从事金融服务,逐步发展成为集团化、全能型的真正投资银行。
[Abstract]:Finance plays a central role in the modern economy. Throughout the global financial crisis, the financial system of many countries have encountered a huge problem of non-performing assets. How to deal with non-performing assets in banking has become a universal international problem, which has received widespread attention from governments and all walks of life. At present, China's economic growth rate has slowed, financial risks, especially non-performing loans, are constantly emerging, financial risks are accumulating faster in individual eastern coastal areas, and the credit risks of steel, shipbuilding and other industries are relatively high, and export-oriented enterprises, Local financing platform and real estate development enterprise credit risk can not be ignored. As a whole, in the future, the balance and ratio of non-performing loans in the banking industry of our country have already appeared "climbing slope" phenomenon. How to effectively release the risk and prevent its spread and spread is not only related to the management safety of the commercial banks themselves. It also affects the strength and effect of financial support to the real economy, which is a realistic subject that needs to be seriously faced. Since the establishment of the State Council in 1999, four state-owned asset companies, namely Cinda, Huarong, Dongfang and Great Wall, have been dealing with the non-performing financial assets from state-owned commercial banks and have achieved good economic and social results. Based on the analysis of the disposal methods of non-performing assets in Y Asset Management Company, this paper points out that the existing disposal methods are simple, low recovery rate, low marketization and so on. Aiming at these problems, this paper puts forward the corresponding improvement strategy and the improvement design of the bad assets disposal mode. The characteristics and innovations of this paper are as follows: (1) aiming at the problems existing in the way of auction sale and disposal, this paper puts forward that the use of network and promotion will expand the publicity channels and the auction houses should take the form of bidding to select the best, and increase the strength of the marketing of non-performing assets; (2) in view of the problems existing in the way of debt reorganization and disposal, the paper puts forward that the disposal of non-performing assets should be carried out by the way of asset packaging, and the financing channels should be widened and the due diligence work should be done to improve the efficiency of the disposal of non-performing assets; (3) aiming at the problems existing in the way of transfer and disposal of non-performing assets, this paper puts forward the scientific pricing of the disposal of non-performing assets, attaches importance to pricing negotiation and negotiation strategy, and at the same time, pays attention to guard against the moral hazard of employees, and promotes the maximization of the value recovery of non-performing assets; (4) aiming at the present situation that the disposal mode of non-performing assets is relatively simple, and the disposal efficiency and income are low, several improved disposal methods are put forward: establishing non-performing assets supermarket, asset securitization, carrying out trust disposal of non-performing assets, The advantages in improving the disposal income, the disposal efficiency and the maximization of cash recovery are explained. (5) it is suggested that asset companies should develop towards investment banks in the future, take asset disposal as the core, make use of the advantages of network, experience and client resources, open up a new model of large investment banking business, and urge them to engage in financial services in a wider range. Gradually develop into a collectivized, all-purpose real investment banks.
【学位授予单位】：广东外语外贸大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.39
本文编号：2415736
[Abstract]:Finance plays a central role in the modern economy. Throughout the global financial crisis, the financial system of many countries have encountered a huge problem of non-performing assets. How to deal with non-performing assets in banking has become a universal international problem, which has received widespread attention from governments and all walks of life. At present, China's economic growth rate has slowed, financial risks, especially non-performing loans, are constantly emerging, financial risks are accumulating faster in individual eastern coastal areas, and the credit risks of steel, shipbuilding and other industries are relatively high, and export-oriented enterprises, Local financing platform and real estate development enterprise credit risk can not be ignored. As a whole, in the future, the balance and ratio of non-performing loans in the banking industry of our country have already appeared "climbing slope" phenomenon. How to effectively release the risk and prevent its spread and spread is not only related to the management safety of the commercial banks themselves. It also affects the strength and effect of financial support to the real economy, which is a realistic subject that needs to be seriously faced. Since the establishment of the State Council in 1999, four state-owned asset companies, namely Cinda, Huarong, Dongfang and Great Wall, have been dealing with the non-performing financial assets from state-owned commercial banks and have achieved good economic and social results. Based on the analysis of the disposal methods of non-performing assets in Y Asset Management Company, this paper points out that the existing disposal methods are simple, low recovery rate, low marketization and so on. Aiming at these problems, this paper puts forward the corresponding improvement strategy and the improvement design of the bad assets disposal mode. The characteristics and innovations of this paper are as follows: (1) aiming at the problems existing in the way of auction sale and disposal, this paper puts forward that the use of network and promotion will expand the publicity channels and the auction houses should take the form of bidding to select the best, and increase the strength of the marketing of non-performing assets; (2) in view of the problems existing in the way of debt reorganization and disposal, the paper puts forward that the disposal of non-performing assets should be carried out by the way of asset packaging, and the financing channels should be widened and the due diligence work should be done to improve the efficiency of the disposal of non-performing assets; (3) aiming at the problems existing in the way of transfer and disposal of non-performing assets, this paper puts forward the scientific pricing of the disposal of non-performing assets, attaches importance to pricing negotiation and negotiation strategy, and at the same time, pays attention to guard against the moral hazard of employees, and promotes the maximization of the value recovery of non-performing assets; (4) aiming at the present situation that the disposal mode of non-performing assets is relatively simple, and the disposal efficiency and income are low, several improved disposal methods are put forward: establishing non-performing assets supermarket, asset securitization, carrying out trust disposal of non-performing assets, The advantages in improving the disposal income, the disposal efficiency and the maximization of cash recovery are explained. (5) it is suggested that asset companies should develop towards investment banks in the future, take asset disposal as the core, make use of the advantages of network, experience and client resources, open up a new model of large investment banking business, and urge them to engage in financial services in a wider range. Gradually develop into a collectivized, all-purpose real investment banks.
【学位授予单位】：广东外语外贸大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.39
【参考文献】
相关期刊论文 前1条
1 董贵昕;;重组并购提升不良资产价值的机制研究[J];财经问题研究;2006年02期
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