融资租赁企业风险预警与控制机制研究

发布时间：2018-07-27 18:26

【摘要】：融资租赁是具有融资与融物双重属性的现代金融工具，融资租赁形式上是融物，实质上有鲜明的融资特征。融资租赁风险管理贯穿于租赁企业经营管理过程中。我国融资租赁的发展起步较晚，还处在行业发展初期，相关政策和法规体系还不健全，加上融资租赁业务固有的内在特点容易带来风险，因此，，融资租赁企业有必要建立有效的风险计量、预警和控制机制，更好规避与化解风险。本文通过对当前中国融资租赁企业风险管理、风险计量与评价、风险预警与控制等方面理论发展的论述，梳理了我国融资租赁企业的七大风险类别，剖析了我国融资租赁企业风险的两大方面形成原因，构建融资租赁企业风险计量、评价与预警模型，通过实际案例进行风险预警模型的运用，并验证风险预警模型的有效性，提出完善中国融资租赁企业风险控制机制的对策与建议。全面剖析融资租赁企业的风险产生机理。首先，归纳出融资租赁企业风险七种风险类型；其次，剖析我国融资租赁企业风险形成的原因，即融资租赁的内在特点容易形成风险、我国融资租赁的外部环境容易带来风险。构建了融资租赁企业预警模型，并围绕实际案例进行实证研究。首先，依据融资租赁企业风险形成机理的分析，将风险预警范围确定在资本充足性、资产质量、管理能力、盈利能力和资产流动性五个维度之内，并分别设计风险预警指标。其次，采用专家评价法与模糊评价法相结合对风险预警指标体系的一、二级指标赋权，经统计分析得到了各级评价指标彼此之间的相对重要性并进行量化。再次，建立各级指标的风险评估标准和风险预警机制，构建出风险预警模型。最后，在全国融资租赁发展最好的区域，选取大型融资租赁企业S公司为例，利用风险预警模型对S融资租赁公司风险进行计量和预警，模型运行显示的结果与S融资租赁公司的实际情况一致。结合风险产生机理、风险预警模型构建与实证研究，提出完善融资租赁企业风险控制机制的五个方面措施。（1）优化控制环境。融资租赁公司要建立行之有效的公司治理结构，建立科学的风险控制系统。（2）持续风险评估。要完善风险评估管理和预警管理系统，建立全过程的、动态的项目风险预警、分析、评估与控制机制，包括租前风险防范、租中风险跟踪、租后风险应对等等。（3）强化控制活动。要通过风险规避、分散、转移、补偿、抑制与消化等一系列策略来强化风险控制。（4）加强信息沟通。要建立畅通的沟通渠道，加快信息系统建设。（5）健全监控机制。要合理设置内部审计机构,让内部审计部门更具独立性和权威性，能更好发挥监督与评价功能，充分发挥内部审计的作用，完善内部控制检查考核和评价机制，及时发现问题，提出改进建议，推进内部风险控制体系持续完善。
[Abstract]:Financial lease is a modern financial instrument with the dual attributes of financing and financing, and the form of financial lease is a financial property, which has distinct financing characteristics in essence. Financial leasing risk management runs through the process of leasing enterprise management. The development of financial leasing in our country starts relatively late and is still in the early stage of industry development. The related policies and regulations are not perfect, and the inherent characteristics of financial leasing business are easy to bring risks. It is necessary for financial leasing enterprises to establish effective risk measurement, early warning and control mechanism to avoid and resolve risks better. This paper discusses the theoretical development of risk management, risk measurement and evaluation, risk early warning and control in China's financial leasing enterprises, and sorts out the seven risk categories of Chinese financial leasing enterprises. This paper analyzes the causes of the formation of the risks of the financial leasing enterprises in China, constructs the risk measurement, evaluation and early warning model of the financial leasing enterprises, applies the risk early warning model through actual cases, and verifies the effectiveness of the risk warning model. The countermeasures and suggestions for perfecting the risk control mechanism of Chinese financial leasing enterprises are put forward. Analyze the risk generation mechanism of financial leasing enterprises in a comprehensive way. Firstly, seven types of risks of financial leasing enterprises are summarized. Secondly, the reasons for the formation of risks of financial leasing enterprises in China are analyzed, that is, the inherent characteristics of financial leasing are easy to form risks, and the external environment of financial leasing in China is easy to bring risks. The early warning model of financial leasing enterprises is constructed, and the empirical research is carried out around the actual cases. Firstly, according to the analysis of risk formation mechanism of financial leasing enterprises, the risk warning range is defined in five dimensions: capital adequacy, asset quality, management ability, profitability and asset liquidity, and risk warning indicators are designed respectively. Secondly, the expert evaluation method and fuzzy evaluation method are combined to give weight to the first and second grade indexes of risk early warning index system. Through statistical analysis, the relative importance of each level evaluation index is obtained and quantified. Thirdly, the risk assessment standard and risk warning mechanism are established, and the risk warning model is constructed. Finally, in the region with the best development of financial leasing in China, select S company of large financial leasing enterprise as an example, use risk early warning model to measure and warn the risk of S financial leasing company. The results of model operation are consistent with the actual situation of S financial leasing company. Combined with the risk generation mechanism, risk warning model construction and empirical research, the paper puts forward five measures to improve the risk control mechanism of financial leasing enterprises. (1) optimize the control environment. Financial leasing companies should establish effective corporate governance structure and establish a scientific risk control system. (2) continuous risk assessment. It is necessary to perfect the risk assessment management and early warning management system, establish the whole process, dynamic project risk warning, analysis, evaluation and control mechanism, including pre-lease risk prevention, risk tracking in rent, post-lease risk response and so on. (3) strengthen control activities. Risk control should be strengthened through a series of strategies, such as risk aversion, dispersion, transfer, compensation, inhibition and digestion. (4) Information communication should be strengthened. It is necessary to establish unimpeded communication channels and speed up the construction of information systems. (5) improve the monitoring mechanism. It is necessary to rationally set up internal audit institutions, make internal audit departments more independent and authoritative, be better able to give full play to the functions of supervision and evaluation, give full play to the role of internal audit, improve the internal control inspection, examination and evaluation mechanism, and timely discover problems. Put forward suggestions to improve the internal risk control system to continue to improve.
【学位授予单位】：宁波大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F272.3;F832.39

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