A再担保公司在拓展集合债券市场中的产品设计

发布时间：2018-05-14 22:03

本文选题：A再担保公司 + 中小企业集合债券　；参考：《哈尔滨工程大学》2012年硕士论文

【摘要】：目前中小企业集合债券以较低的准入门槛为中小企业融资提供了一条新途径，一定程度上缓解了中小企业净资产规模过低对融资的影响。本文通过对中小企业对集合债券产品市场需求的调查，运用现代信用增级理论，借鉴韩国P-CBO模式，根据我国经济发展情况，结合A再担保公司的实际发展情况，提出A再担保公司在发行中小企业集合债券的产品设计方案，产品设计包括A再担保公司针对中小企业集合债券的现有业务组合，以及针对未来中小企业集合债券的创新业务设计两大部分。本文首先通过对A再担保公司及我国再担保公司的业务现状和信用增级的基本原理进行研究分析，指出了A再担保公司在为中小企业集合债券发行进行信用增级的主要业务模式及问题。其次通过对中小企业集合债券发行现状及优劣势的综合分析，明确了目前中小企业直接融资的市场需求，确定了中小企业集合债券未来的发展方向。再次通过对A再担保公司优势分析，，明确了A再担保公司在发行中小企业集合债券领域的竞争优势和发展前景。最后借鉴韩国P-CBO模式提出A再担保公司在发行中小企业集合债券的产品设计，同时给出了有效实施该产品设计的具体方法以及相应的实施措施。
[Abstract]:At present, the small and medium-sized enterprises aggregate bonds provide a new way for SMEs to finance with low entry threshold, which to some extent alleviates the influence of the small and medium-sized enterprises' low net assets on the financing. Based on the investigation of the demand of small and medium-sized enterprises on the market of aggregate bond products, this paper applies the modern credit upgrading theory, draws lessons from the Korean P-CBO model, according to the economic development of our country, and combines the actual development situation of the A reguarantee company. The product design scheme of A reguarantee company is put forward, which includes the existing business portfolio of A reguarantee company for small and medium-sized enterprises. And for the future of small and medium-sized enterprises bond innovation business design two parts. First of all, this paper studies and analyzes the business status quo and the basic principle of credit enhancement of A reguarantee company and our country reguarantee company. This paper points out the main business model and problems of A re-guarantee company in credit enhancement for small and medium enterprises. Secondly, through the comprehensive analysis of the status quo and advantages and disadvantages of SME collective bond issuance, this paper clarifies the current market demand of SME direct financing, and determines the future development direction of SME collective bond. Thirdly, by analyzing the advantages of A reguarantee company, the competitive advantage and development prospect of A re guarantee company in the field of issuing small and medium-sized enterprises' bonds are clarified. At last, using the P-CBO model of Korea for reference, the paper puts forward the product design of A reguarantee company in issuing small and medium-sized enterprises' bonds, and at the same time, it gives the concrete methods and corresponding measures to implement the product design effectively.
【学位授予单位】：哈尔滨工程大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51

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