长春市广源小额贷款有限责任公司融资路径研究

发布时间：2018-01-18 02:18

本文关键词：长春市广源小额贷款有限责任公司融资路径研究　出处：《吉林大学》2014年硕士论文　论文类型：学位论文

【摘要】：2008年，，中国人民银行、银监会联合下发的《关于小额贷款公司试点工作的指导意见》（银监发〔2008〕23号），正式宣布在全国范围内开展小额贷款公司试点工作。长春市广源小额贷款有限责任公司便是吉林省首家小额贷款公司。该公司成立于2009年4月，注册资本金5000万，是经吉林省金融办批准的首批小额贷款公司之一，成立以来获得的各项荣誉远多于其他小额贷款公司，堪称吉林省小额贷款公司行业的领头羊。小额贷款公司的本质是改革开放过程中先期富裕起来的人们，利用手中的闲置资金，以多年从商经验为依托，为暂时还没有富裕起来的人群提供信贷支持的一种组织形式。它是我国金融改革的探路者，注定要被分散为其他金融主体，但现在依然做的就是商业银行的零售业务，只是不能揽储和进行同业拆借，不享有金融机构的较低的税率。如何在不具备金融机构丰富的资金来源的情况下，保证自身资本实力稳步增长，维护利润的可持续增长，实现服务“三农”和小微企业的设计意图，是每一个小额贷款公司需要思考的问题。而摆在所有小额贷款公司面前最大的问题即是后续资金来源问题。按照23号文的规定，小额贷款公司具有只贷不存的性质，经营的是信贷业务，其资金来源主要是股东自有资金、捐赠资金和银行融资。从五年的发展经验来看，小额贷款公司从银行取得融资支持的难度非常大，鲜有成功，捐赠资金更不比说，也即小额贷款公司基本仅有自筹资金一条出路，融资路径十分狭小。本文以长春市广源小额贷款有限责任公司为研究对象，利用实证研究分析法、描述法和文献分析法，在对广源小贷融资困境进行详细描述的基础上，分析出国家宏观政策规定的融资路径过窄、内部增信能力不足、经营与管理能力不强和财务信息披露质量不高等因素是使其陷入融资困境的原因，从而有针对性的找到了善用“非禁即入”原则、优化可抵（质）押资产配置效率、引入国际领先的小额信贷企业管理模式以及建立融资双方信息共享平台等四个解决办法。从研究情况看，广源小贷的融资行为具有民事行为的性质，只要解放思想、善用“非禁即入”原则才能摆脱单纯依靠银行贷款的融资“牢笼”。而走出“牢笼”并不是目的，广源小贷还要通过优化可抵（质）押资产配置效率和引入国际领先的小额信贷企业管理模式等手段强壮自身，努力符合资金提供方的审美标准。同时，并不是优质的企业一定能够融资成功，核心影响因素之一就是信息透明度，特别是财务信息的披露质量，因此，广源小贷应在条件允许的情况下尽可能的提高信息披露质量，包括信息本身的详细和真实程度，更包括融资双方互动平台的组织。
[Abstract]:In 2008, the people's Bank of China and the Banking Regulatory Commission jointly issued the "guidance on the pilot work of microfinance companies" (No. 23). It is officially announced that the pilot work of micro-loan companies will be carried out nationwide. Changchun Guangyuan Microcredit Co., Ltd. is the first microfinance company in Jilin Province. The company was established in April 2009. Registered capital 50 million is one of the first batch of microfinance companies approved by Jilin Province Financial Office. Since its establishment, it has won far more honors than other microfinance companies. Can be called Jilin Province small loan company industry leader. The essence of microfinance companies is that the people who got rich in the process of reform and opening up used the idle funds in their hands and relied on their business experience for many years. A form of organization that provides credit support to people who are not yet wealthy for the time being. It is the Pathfinder of China's financial reform and is destined to be dispersed into other financial entities. But what still does now is the retail business of commercial bank, just can't collect money and carry on interbank loan, do not enjoy the lower tax rate of financial institution. To ensure the steady growth of their capital strength, to maintain the sustainable growth of profits, and to realize the design intention of serving the "three rural areas" and small and micro enterprises are the problems that every microfinance company needs to think about. The biggest problem in front of all microfinance companies is the problem of the source of follow-up funds. According to the provisions of article 23, microfinance companies have the nature of only lending and not saving, and they are engaged in credit business. The main sources of funds are shareholders' own funds, donated funds and bank financing. From the five years of development experience, microfinance companies from the banks to obtain financing support is very difficult, rarely successful. Donating funds is not the same as saying, that is, microfinance companies basically only raise a way out, financing path is very narrow. This paper takes Changchun Guangyuan Microloan Co., Ltd. as the research object, using the empirical analysis method, description method and literature analysis method, on the basis of detailed description of Guangyuan small loan financing dilemma. The analysis shows that the financing path is too narrow, the internal credit enhancement ability is insufficient, the management and management ability is not strong and the financial information disclosure quality is not high, which are the reasons for the financing difficulties. In order to find out the best use of the principle of "not prohibited or entered", optimize the allocation efficiency of assets against (pledge). This paper introduces the international leading management mode of micro-credit enterprises and the establishment of information sharing platform for both sides of financing. From the point of view of the research situation, the financing behavior of Guangyuan small loan has the nature of civil behavior, as long as emancipating the mind. Only by making good use of the principle of "no ban or entry" can we get rid of the "cage" of financing which simply depends on bank loans, and getting out of the "cage" is not the goal. Guangyuan small loans should strengthen themselves by optimizing the allocation efficiency of collateralized assets and introducing the international leading micro-credit enterprise management model, and strive to meet the aesthetic standards of the fund provider. At the same time. It is not the high quality enterprise to be able to financing success, one of the core influencing factors is information transparency, especially the quality of financial information disclosure, so. Guangyuan small loan should improve the quality of information disclosure as far as possible, including the detail and truth of the information itself, and the organization of the interactive platform between the two parties.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F830.42;F832.39

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