A公司以资产证券化为目的的价值评估研究

发布时间：2018-04-09 13:49

本文选题：资产证券化　切入点：未来现金流预测　出处：《辽宁大学》2014年硕士论文

【摘要】：在中国的北方地区，冬季的城镇供暖问题随着经济的发展逐渐成为了影响人民生活水平的重要问题。锅炉供热企业作为重要的基础设施建设不仅要满足企业正常生产和居民生活质量等方面的需求，更要探寻长远的发展方向。对每一个供热企业来说要想生存和发展就必须重视不断地进行技术更新和设备改造，但由于许多供热企业是从计划经济过渡到市场经济中来的，由于先天不足造成的融资的困难，除了政府的合理补贴和银行贷款外，企业依然会形成很大的资金缺口。此时，渐渐兴起的资产证券化业务作为一种新型的融资方式走入了这些苦于资金流转企业的视野，能够将他们所拥有的不可流动的资产转化为高流动性、高收益性的资产，使得他们看到了发展的曙光。资产证券化，有利的解决了融资难的问题，它使得全社会的资金更好的循环利用起来，更加促进了民生行业乃至其他行业的发展。本文系统的研究了资产证券化的过程，并以A公司为例，结合供热企业自身特点，详细介绍了资产评估在资产证券化中的作用，以及以资产证券化为目的的价值评估的基本思路与重要关注事项。从资产证券化的介绍，了解评估的特定目的，通过标的资产的资产证券化选择确定评估范围，，分析收益法权评估的特点来确定评估方法，最终得出评估结论，提出参考意见以保证资产证券化的顺利进行。通过对A公司的案例分析，重点理解该类型评估，为资产评估新业务作出方法指导。资产证券化的介入，使得我国经济发展得到了良好的循环及发展，另一方面促进了城市建设资金的扩充，因此对资产证券化这类业务的深入研究是不可或缺的。
[Abstract]:In the northern part of China, the urban heating problem in winter has gradually become an important problem affecting the people's living standard with the development of economy.As an important infrastructure construction, boiler heating enterprises should not only meet the needs of enterprises in normal production and residents' quality of life, but also explore the long-term development direction.For every heating enterprise, in order to survive and develop, it is necessary to attach importance to the continuous technological renewal and equipment transformation. However, many heating enterprises are coming from the planned economy to the market economy.Due to the difficulty of financing caused by natural shortage, besides the reasonable subsidy and bank loan, enterprises will still form a large fund gap.At this time, the emerging asset securitization business as a new type of financing into the vision of these cash-flow enterprises, they can turn their illiquid assets into highly liquid, high-profitability assets.They saw the dawn of development.Asset securitization helps to solve the problem of financing difficulties, it makes the whole society better recycling of funds, and promotes the development of people's livelihood industry and even other industries.This paper systematically studies the process of asset securitization, and taking A company as an example, combined with the characteristics of heating enterprises, introduces in detail the role of asset evaluation in asset securitization.And asset securitization as the purpose of the value evaluation of the basic ideas and important concerns.From the introduction of asset securitization, understand the specific purpose of evaluation, determine the scope of evaluation through the choice of asset securitization of underlying assets, analyze the characteristics of the right to income approach to determine the evaluation method, and finally draw the evaluation conclusions.Suggestions are put forward to ensure the smooth progress of asset securitization.Through the case analysis of A Company, the emphasis is put on understanding this type of evaluation and providing method guidance for the new business of asset evaluation.The intervention of asset securitization makes the economic development of our country get good circulation and development, on the other hand, it promotes the expansion of urban construction funds, so it is indispensable to study such business as asset securitization.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F275;F832.51;F299.24

【参考文献】