应收账款质押融资分析与风险评价优化

发布时间：2018-01-14 09:41

本文关键词：应收账款质押融资分析与风险评价优化　出处：《首都经济贸易大学》2014年硕士论文　论文类型：学位论文

【摘要】：摘要：中小企业作为我国经济发展的生力军,对于改善我国整体经济大环境起着非常重要的作用,然而融资困境一直是制约其稳定持续发展的重要难题。尽管于2007年我国出台新《物权法》,重新定义质权,强调应收账款可视作动产并可当作质押物,为缺乏大额传统有效不动产质押的中小企业拓展了新的融资渠道。以平安银行为创新主力的大型金融机构针对中小企业融资困境问题率先设计了一系列供应链金融服务商品,一定程度上缓解了中小企业融资压力,更为中小企业资本运作提供了崭新的视角。本文先系统阐述应收账款质押融资的理论基础、概念及运作模式,针对核心企业在供应链经济贸易活动中凭借其规模效应出现买方强制赊销,延期支付,导致中小企业流动资本运转不灵而无法迅速回收资本以实现生产与投资再循环,继而使供应链产业上游链条不稳定的问题,深入分析中小企业供应商应用应收账款融资模式。同时考虑风险因素,利用模糊综合评价法及AHP层次分析法进行风险评估来确定中小企业的实质质押率,在金融机构放低信用标准情况下,仍能保证资本的回收率。最后通过分析实际案例——东风汽车零件供应商湖北L机械有限公司于2012年采用应收账款质押融资成功解决企业现金流周转不灵的难题,在此基础上应用上述风险评价方法分别对应收账款质押融资模式和传统模式的进行差异率分析,证明应收账款质押融资模式对加快资金周转率及提高资金使用效率方面有重要作用,在我国政府积极畅导金融创新深化机制改革大环境下,有切实的可行性和先验性,对实现供应商、核心企业、银行的三方共赢有重要作用。
[Abstract]:Abstract: the small and medium-sized enterprises as a new force of China's economic development, plays a very important role in improving the overall economic environment in China, however, financing difficulties has been the main problem of the stable and sustainable development. Despite the introduction of the new "property law in our country in 2007, to redefine the pledge of accounts receivable can be regarded as the emphasis property and can be used as collateral for lack of large traditional effective real estate pledge of small and medium-sized enterprises to develop new financing channels. Large financial institutions to Ping An Bank as the main innovation for SMEs financing difficulties to design a series of supply chain financial services, to some extent alleviate the pressure of financing of small and medium-sized enterprises. It provides a new perspective for the capital operation of small and medium-sized enterprises.
This paper first describes the system of pledge of accounts receivable financing theory, the concept and mode of operation, for the core enterprise with its scale in the supply chain of economic and trade activities in the compulsory credit, deferred payment, the flow of small and medium-sized enterprises to capital operation is fast recovery of capital in order to realize production and investment recycling, and then make the supply chain the upstream industry chain is not stable, in-depth analysis of the small and medium-sized enterprise application vendors account receivable financing mode. At the same time, considering the risk factors, using fuzzy comprehensive evaluation method and analytic hierarchy process AHP risk assessment to determine the nature of small and medium-sized enterprises pledge rate, lower credit standards in financial institutions, still can guarantee the capital recovery rate.
Finally, through the analysis of actual case, Dongfeng auto parts supplier in Hubei L Machinery Co. Ltd. in 2012 by the problem of account receivable financing successfully solve the cash flow liquidity, the risk assessment based on the methods of accounts receivable pledge financing mode and the traditional mode of rate differences, proof of pledge of accounts receivable financing model plays an important role to accelerate the capital turnover rate and improve efficiency in the use of funds, the Chinese government actively guide smooth financial innovation deepening mechanism reform environment, feasibility and a priori practical, to achieve the core suppliers, enterprises, banks win three has an important role.

【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F276.3;F832.4

【引证文献】