Y資產管理公司處置不良資產的模式研究
發(fā)布時間：2019-01-26 17:41
【摘要】：金融在現代經濟中發(fā)揮著核心作用。縱觀全球性的歷次金融危機,許多國家的金融體系都遭遇到巨額不良資產問題的困擾。如何處置銀行業(yè)不良資產已成為一個普遍存在的國際性問題,受到了各國政府與社會各界的普遍關注。當前,我國經濟增速有所放緩,金融風險、特別是不良貸款風險不斷顯現,個別東部沿海地區(qū)金融風險積聚較快,鋼鐵、造船等行業(yè)信用風險較高,外向型企業(yè)、地方融資平臺和房地產開發(fā)企業(yè)信貸風險不容忽視。整體看,未來我國銀行業(yè)不良貸款余額和比率已經出現“爬坡”現象,如何有效緩釋風險,防止其擴散和蔓延,不僅關系到商業(yè)銀行自身的經營安全,也影響到金融支持實體經濟的力度和效果,是一個需要認真面對的現實課題。自1999年國務院成立的信達、華融、東方、長城四家國有資產公司至今,一直擔負著專職處置從國有商業(yè)銀行中剝離出來的不良金融資產,并且取得了良好的經濟和社會效果。本文通過重點對Y資產管理公司不良資產處置方式進行分析,指出現有的處置方式存在著簡單、回收率不高、市場化程度較低等問題,針對這些問題提出相應的改進策略及不良資產處置方式的改進化設計。本文特色與創(chuàng)新:(1)針對拍賣出售處置方式存在的問題,提出利用網絡與推介會擴大宣傳渠道和對拍賣行采取招投標的形式進行擇優(yōu)選擇,加大不良資產營銷的力度;(2)針對債務重組處置方式存在的問題,提出利用資產打包方式處置不良資產,不斷拓寬融資渠道,做好盡職調查工作,從而提高不良資產的處置效率;(3)針對協(xié)議轉讓處置方式存在的問題,提出對不良資產處置進行科學定價,重視定價談判和談判策略,同時,注意防范員工的道德風險,促使不良資產價值回收的最大化;(4)針對目前不良資產處置方式較為簡單、處置效率與收益較低的現狀,提出幾種改進化的處置方式:建立不良資產超市、資產證券化、開展信托處置不良資產,并說明其在提高處置收益、處置效率和達到現金回收最大化方面所具備的優(yōu)勢性;(5)建議資產公司未來向投行方向發(fā)展,以資產處置為核心,利用網絡優(yōu)勢、經驗優(yōu)勢及客戶資源優(yōu)勢,開拓大投行業(yè)務新模式,促使其在更廣闊的范圍內從事金融服務,逐步發(fā)展成為集團化、全能型的真正投資銀行。
[Abstract]:Finance plays a central role in the modern economy. Throughout the global financial crisis, the financial system of many countries have encountered a huge problem of non-performing assets. How to deal with non-performing assets in banking has become a universal international problem, which has received widespread attention from governments and all walks of life. At present, China's economic growth rate has slowed, financial risks, especially non-performing loans, are constantly emerging, financial risks are accumulating faster in individual eastern coastal areas, and the credit risks of steel, shipbuilding and other industries are relatively high, and export-oriented enterprises, Local financing platform and real estate development enterprise credit risk can not be ignored. As a whole, in the future, the balance and ratio of non-performing loans in the banking industry of our country have already appeared "climbing slope" phenomenon. How to effectively release the risk and prevent its spread and spread is not only related to the management safety of the commercial banks themselves. It also affects the strength and effect of financial support to the real economy, which is a realistic subject that needs to be seriously faced. Since the establishment of the State Council in 1999, four state-owned asset companies, namely Cinda, Huarong, Dongfang and Great Wall, have been dealing with the non-performing financial assets from state-owned commercial banks and have achieved good economic and social results. Based on the analysis of the disposal methods of non-performing assets in Y Asset Management Company, this paper points out that the existing disposal methods are simple, low recovery rate, low marketization and so on. Aiming at these problems, this paper puts forward the corresponding improvement strategy and the improvement design of the bad assets disposal mode. The characteristics and innovations of this paper are as follows: (1) aiming at the problems existing in the way of auction sale and disposal, this paper puts forward that the use of network and promotion will expand the publicity channels and the auction houses should take the form of bidding to select the best, and increase the strength of the marketing of non-performing assets; (2) in view of the problems existing in the way of debt reorganization and disposal, the paper puts forward that the disposal of non-performing assets should be carried out by the way of asset packaging, and the financing channels should be widened and the due diligence work should be done to improve the efficiency of the disposal of non-performing assets; (3) aiming at the problems existing in the way of transfer and disposal of non-performing assets, this paper puts forward the scientific pricing of the disposal of non-performing assets, attaches importance to pricing negotiation and negotiation strategy, and at the same time, pays attention to guard against the moral hazard of employees, and promotes the maximization of the value recovery of non-performing assets; (4) aiming at the present situation that the disposal mode of non-performing assets is relatively simple, and the disposal efficiency and income are low, several improved disposal methods are put forward: establishing non-performing assets supermarket, asset securitization, carrying out trust disposal of non-performing assets, The advantages in improving the disposal income, the disposal efficiency and the maximization of cash recovery are explained. (5) it is suggested that asset companies should develop towards investment banks in the future, take asset disposal as the core, make use of the advantages of network, experience and client resources, open up a new model of large investment banking business, and urge them to engage in financial services in a wider range. Gradually develop into a collectivized, all-purpose real investment banks.
【學位授予單位】：廣東外語外貿大學
【學位級別】：碩士
【學位授予年份】：2015
【分類號】：F832.39
本文編號：2415736
[Abstract]:Finance plays a central role in the modern economy. Throughout the global financial crisis, the financial system of many countries have encountered a huge problem of non-performing assets. How to deal with non-performing assets in banking has become a universal international problem, which has received widespread attention from governments and all walks of life. At present, China's economic growth rate has slowed, financial risks, especially non-performing loans, are constantly emerging, financial risks are accumulating faster in individual eastern coastal areas, and the credit risks of steel, shipbuilding and other industries are relatively high, and export-oriented enterprises, Local financing platform and real estate development enterprise credit risk can not be ignored. As a whole, in the future, the balance and ratio of non-performing loans in the banking industry of our country have already appeared "climbing slope" phenomenon. How to effectively release the risk and prevent its spread and spread is not only related to the management safety of the commercial banks themselves. It also affects the strength and effect of financial support to the real economy, which is a realistic subject that needs to be seriously faced. Since the establishment of the State Council in 1999, four state-owned asset companies, namely Cinda, Huarong, Dongfang and Great Wall, have been dealing with the non-performing financial assets from state-owned commercial banks and have achieved good economic and social results. Based on the analysis of the disposal methods of non-performing assets in Y Asset Management Company, this paper points out that the existing disposal methods are simple, low recovery rate, low marketization and so on. Aiming at these problems, this paper puts forward the corresponding improvement strategy and the improvement design of the bad assets disposal mode. The characteristics and innovations of this paper are as follows: (1) aiming at the problems existing in the way of auction sale and disposal, this paper puts forward that the use of network and promotion will expand the publicity channels and the auction houses should take the form of bidding to select the best, and increase the strength of the marketing of non-performing assets; (2) in view of the problems existing in the way of debt reorganization and disposal, the paper puts forward that the disposal of non-performing assets should be carried out by the way of asset packaging, and the financing channels should be widened and the due diligence work should be done to improve the efficiency of the disposal of non-performing assets; (3) aiming at the problems existing in the way of transfer and disposal of non-performing assets, this paper puts forward the scientific pricing of the disposal of non-performing assets, attaches importance to pricing negotiation and negotiation strategy, and at the same time, pays attention to guard against the moral hazard of employees, and promotes the maximization of the value recovery of non-performing assets; (4) aiming at the present situation that the disposal mode of non-performing assets is relatively simple, and the disposal efficiency and income are low, several improved disposal methods are put forward: establishing non-performing assets supermarket, asset securitization, carrying out trust disposal of non-performing assets, The advantages in improving the disposal income, the disposal efficiency and the maximization of cash recovery are explained. (5) it is suggested that asset companies should develop towards investment banks in the future, take asset disposal as the core, make use of the advantages of network, experience and client resources, open up a new model of large investment banking business, and urge them to engage in financial services in a wider range. Gradually develop into a collectivized, all-purpose real investment banks.
【學位授予單位】：廣東外語外貿大學
【學位級別】：碩士
【學位授予年份】：2015
【分類號】：F832.39
【參考文獻】
相關期刊論文 前1條
1 董貴昕;;重組并購提升不良資產價值的機制研究[J];財經問題研究;2006年02期
，本文編號：2415736
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