粤电财务公司流动性风险管理研究

发布时间：2018-03-05 22:32

本文选题：粤电财务公司　切入点：流动性风险　出处：《华南理工大学》2014年硕士论文　论文类型：学位论文

【摘要】：企业集团的发展离不开金融的支持，金融的发展以企业的发展为基础，企业发展与金融创新的相互扶持促进，催生了产融深度结合的财务公司。广东省粤电集团有限公司与中国的其他企业集团公司一样，在国家经济体制和金融体制不断深化融合的情况下，在收购“万家乐财务公司”的基础上，于2006年12月成立了“广东粤电财务有限公司（以下简称：粤电财务公司）”。粤电财务公司紧紧围绕“依托集团、服务集团，扎根基层、服务基层”的企业宗旨，为粤电集团的控股、参股的成员单位提供资金集中、资金融通的服务，并在担当企业与金融机构之间的桥梁、降低整个集团财务费用、提高集团资金规模效益等方面发挥着重要的积极作用。粤电财务公司面对粤电集团规模的不断壮大、资金需求量的不断增加，面对集团内部单位资金来源与资金运用的不匹配，面对国家金融环境的变化、宏观货币政策层面的资金收紧，该如何应对维持合理流动性的压力和挑战，是值得思考和研究的一大课题。粤电财务公司是粤电集团的“心脏”，如果“心脏”的流动性得不到维持，其带来的风险得不到合理的控制，，伴随而产生的负面影响，如：信用形象、资金来源等，会形成多米诺骨牌效应，将会影响粤电财务公司的发展壮大，严重制约集团的战略发展。因此，探讨、研究粤电财务公司流动性风险及其管理问题，具有非常重要的现实意义和价值。本文首先从理论层面对国内外财务公司、财务公司流动性、财务公司流动风险及特点、财务公司流动性风险管理进行介绍、分析；其次介绍电力行业、粤电集团、粤电财务公司的流动性状况，重点介绍粤电财务公司流动性风险管理存在的问题；接着应用流动性风险计量的流动比例法和熵值法，建立流动性风险评估模型，针对粤电财务公司的流动性风险进行定量研究及定性分析，综合评价粤电财务公司的流动性风险水平及变动情况；最后在借鉴国内外较为成熟的财务公司风险管理经验，以及综合本文计量评估结果的基础上，有针对性地提出了完善粤电财务公司流动性风险管理的具体措施。本文的研究分析表明，粤电财务公司流动性风险的定量研究及定性分析，有助于明确粤电财务公司的流动性风险现状及变动趋势，对于建立有效的流动性风险应对策略、制定和健全流动性风险管理的制度体系、合理维持流动性来源与运用的动态平衡具有重要的参考意义。
[Abstract]:The development of enterprise groups can not be separated from the support of finance. The development of finance is based on the development of enterprises, and the mutual support between enterprise development and financial innovation promotes each other. Guangdong Guangdong Guangdong Electric Power Group Co., Ltd., like other enterprise groups in China, is in a situation where the national economic and financial systems are becoming more and more integrated. On the basis of the acquisition of Wanjiale Finance Company, Guangdong Guangdong Guangdong Electric Finance Co., Ltd. was set up in December 2006. The company closely revolves around "relying on the Group, serving the Group and taking root at the grassroots level." The purpose of "serving the grassroots" is to provide the members of Guangdong Electric Power Group with centralized funds and financing services, to act as a bridge between enterprises and financial institutions, and to reduce the financial costs of the whole group. The improvement group capital scale benefit and so on aspect is playing the important positive role. In the face of the growing scale of Guangdong Power Group, the increasing demand for funds, the mismatch between the sources of funds and the use of funds within the group, and the changes in the national financial environment, How to deal with the pressures and challenges of maintaining reasonable liquidity in the face of tight capital at the macro level of monetary policy, This is a major topic worth considering and studying. The Guangdong Power Finance Company is the "heart" of the Guangdong Power Group. If the liquidity of the "heart" is not maintained, the risks it brings will not be properly controlled, and the accompanying negative effects will result. For example, credit image, source of funds and so on, will form domino effect, will affect the development and growth of Guangdong Electric Finance Company, and will seriously restrict the strategic development of the Group. It is of great practical significance and value to study the liquidity risk and its management of Guangdong Electric Finance Company. This paper firstly introduces and analyzes the domestic and foreign financial companies, the liquidity of financial companies, the liquidity risks and characteristics of financial companies, the liquidity risk management of financial companies, and then introduces the power industry, Guangdong Power Group, The liquidity status of Guangdong Power Finance Company, focusing on the liquidity risk management problems, and then using liquidity risk measurement of liquidity ratio method and entropy method to establish a liquidity risk assessment model, Based on the quantitative study and qualitative analysis of the liquidity risk of Guangdong Power Finance Company, this paper comprehensively evaluates the liquidity risk level and its change of Guangdong Electric Finance Company, and finally, draws lessons from the more mature financial company risk management experience at home and abroad. On the basis of synthesizing the results of measurement and evaluation, the paper puts forward some specific measures to improve the liquidity risk management of Guangdong Electric Finance Company. The quantitative study and qualitative analysis of liquidity risk of Guangdong Power Finance Company is helpful to clarify the current situation and trend of liquidity risk of Guangdong Power Finance Company, and to establish effective liquidity risk coping strategy. It is of great significance to establish and perfect the system of liquidity risk management and to maintain the dynamic balance between the source and application of liquidity.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F426.61

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