我国项目融资风险管理相关问题研究

发布时间：2018-02-21 06:20

本文关键词： 项目融资风险管理有限追索担保　出处：《东北财经大学》2002年硕士论文　论文类型：学位论文

【摘要】： 项目融资是20世纪70年代以后国际金融市场上推出的一种新型筹资方式，近年来已经发展成为大型工程项目建设筹集资金的一种卓有成效的手段，在国际上得到了非常广泛的运用。我国于80年代中期首次引进项目融资，随着我国基础设施项目招商引资的力度加大，项目融资在我国得到了快速的发展，为解决我国大型基础设施项目资金和技术缺乏的问题做出了重要的贡献。然而项目融资也有它的不足之处，，由于项目融资时间长、规模大、参与方多、结构复杂，导致融资风险极大，因而项目融资要求从前期的项目可行性研究开始到项目的谈判、签约、建设施工直至运营，实行全过程的监督和严格的风险管理。但是在我国，项目融资起步较晚，很多东西还处在探索阶段，加之受计划经济的影响，人们普遍对项目融资中的风险认识不足，对风险管理的认识也存在着一定的误区，往往把风险管理狭义地理解为风险控制或是风险处理。因此，了解我国项目融资的风险，构建风险管理的基本框架，分析我国项目融资风险管理的现存问题以及如果解决这些问题，具有现实意义。本文主要研究如何构建我国项目融资风险管理的基本框架以及如何改善我国项目融资风险管理的现状等问题。本文不仅对项目融资以及风险管理的基本概念、主要特征做了较为系统的阐述，还结合我国项目融资中的典型案例，分析了构成我国项目融资主要风险的六大风险，即信用风险、完工风险、运营风险、政治风险、经济风险和环保风险。在风险评估方面，突出了定量评估，引入了动态分析。在此基础上，针对这些风险，提出了以信用保证为主要形式的风险处理方案。同时，文本也注意到许多先进的风险管理技术在我国很难得以应用，主要原因在于我国项目融资风险管理在政策、法律、项目审批、风险管理技术以及其它一些客观条件方面存在诸多问题，在对这些问题进行分析的基础上，本文提出了解决这些问题的相关政策建议与措施。本文的一些分析是比较粗浅的，很多想法也不是很成熟，但是风险管理的应用问题应该是发展我国项目融资迫切需要解决的问题。笔者选择这一领域作为自己毕业论文的研究范围，目的仅在于能对我国项目融资风险管理的发展做一些前瞻性的探索，以起到抛砖引玉的作用。
[Abstract]:Project financing is a new type of financing method introduced in the international financial market after 1970s. In recent years, project financing has developed into an effective means to raise funds for large-scale construction projects. In the middle of 80s, China introduced project financing for the first time. With the increase of investment in infrastructure projects in China, project financing has developed rapidly in China. It has made an important contribution to solve the problem of lack of funds and technology for large-scale infrastructure projects in our country. However, project financing also has its shortcomings, because of its long time, large scale, large number of participants and complex structure. As a result of the great risk of financing, project financing requires from the beginning of the preliminary project feasibility study to project negotiation, contract, construction and operation, the whole process of supervision and strict risk management. But in our country, The project financing starts late, many things are still in the exploration stage, in addition, under the influence of the planned economy, people generally lack the understanding of the risk in the project financing, and the understanding of the risk management also has certain misunderstanding. Risk management is often understood narrowly as risk control or risk management. It is of practical significance to analyze the existing problems of project financing risk management in China and to solve these problems. This paper mainly studies how to construct the basic framework of project financing risk management in our country and how to improve the present situation of project financing risk management in our country, not only the basic concepts of project financing and risk management, but also the basic concepts of project financing and risk management. The main characteristics of the project financing in China are described systematically, and the six major risks, namely credit risk, completion risk, operation risk, political risk, which constitute the main risks of project financing in China, are analyzed, combining with the typical cases of project financing in China. Economic risk and environmental risk. In the aspect of risk assessment, quantitative assessment is highlighted and dynamic analysis is introduced. Based on this, a risk treatment scheme with credit guarantee as the main form is put forward. The text also notes that many advanced risk management techniques are difficult to apply in China, mainly because of the policy, law, and project approval of project financing risk management in China. There are many problems in risk management technology and some other objective conditions. Based on the analysis of these problems, this paper puts forward some relevant policy suggestions and measures to solve these problems. Some of the analysis in this paper is rather superficial, and many ideas are not very mature. However, the application of risk management should be an urgent problem to be solved in the development of project financing in China. The purpose is only to make some forward-looking exploration on the development of project financing risk management in China.
【学位授予单位】：东北财经大学
【学位级别】：硕士
【学位授予年份】：2002
【分类号】：F062.4

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