我国企业资产证券化基础资产问题研究

发布时间：2018-01-07 15:05

本文关键词：我国企业资产证券化基础资产问题研究　出处：《首都经济贸易大学》2017年硕士论文　论文类型：学位论文

【摘要】：基础资产以其稳定可预期的现金流为资产支持证券提供本息支持,这是资产证券化的最大特点,因此,基础资产是资产证券化的开端,同时贯穿整个过程。随着我国资产证券化的迅速发展,基础资产范围也在不断地扩大。我国已逐渐融入世界经济这一整体,资产证券化等金融创新能够为我国经济快速发展提供动力。我国目前正处于经济金融改革的关键时期,资产证券化的发展对我国经济持续健康发展有着十分重要的战略意义。一般来说,资产证券化以其灵活的方式拓宽融资渠道、降低融资成本、规避融资规模限制、提高净资产收益率、为企业提供较强的灵活性等优势,存在着巨大的发展前景。根据监管及发行方的区别,我国资产证券化分为信贷类资产证券化、企业资产证券化以及资产支持票据。本文着眼于当下热门的企业资产证券化,以基础资产为切入点,通过对我国企业资产证券化中基础资产当前存在的问题进行分析,发现其中存在的风险,并分析成因。通过案例的引入,对当前市场基础资产选择进行探讨,再结合美国资产证券化市场基础资产发展经验,探讨健全我国资产证券化基础资产选择的有效方法,不断完善我国资产证券化基础资产市场,降低市场及投资者风险,促进我国资产证券化市场的发展,具有一定的实际意义。
[Abstract]:Base assets provide principal and interest support for asset-backed securities with its stable and predictable cash flow, which is the biggest characteristic of asset securitization. Therefore, basic assets are the beginning of asset securitization. With the rapid development of asset securitization in China, the scope of basic assets is also expanding. China has gradually integrated into the whole world economy. Asset securitization and other financial innovation can provide a driving force for the rapid development of our economy. China is now in the critical period of economic and financial reform. The development of asset securitization has a very important strategic significance for the sustained and healthy development of our economy. Generally speaking asset securitization widens financing channels and reduces financing cost in its flexible way. There is a great development prospect to avoid the limitation of financing scale, improve the return on net assets, and provide strong flexibility for enterprises, according to the differences between regulatory and issuer. Asset securitization in China is divided into credit asset securitization, enterprise asset securitization and asset-backed instruments. Through the analysis of the problems existing in the basic assets securitization of enterprises in our country, we find out the risks and analyze the causes. Through the introduction of the case, we discuss the choice of the basic assets in the current market. Combined with the experience of the development of basic assets in American asset securitization market, this paper discusses the effective methods to perfect the basic asset selection of asset securitization in our country, and continuously consummates the basic asset market of asset securitization in our country. It is of practical significance to reduce the risk of market and investors and to promote the development of asset securitization market in China.
【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】：2017
【分类号】：F832.51

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