Research On Financial Risk Management Of Small And Medium-sized Financial Lessors

In recent years,the industry of financial leasing in China entered a period of rapid development and the statement also introduced a number of relevant policies to support it.The quantity of financial lessors got a substantially increase.However,among many financial lessors,the independent small and medium-sized ones that don't have large shareholder background and which's registered capital less than 500 million still account for the majority.With the development of the industry,these enterprises also face a lot of financial risks,besides,the research on financial risk management of the financial lessors in our country is still in the initial stage,in order to the financing leasing industry have a healthy development to research financial risk management of small and medium-sized financial lessors is of great significance.The purpose of this paper is to identify and measure the financial risk of the case enterprise-Rongxin Leasing Co.,Ltd.,and to make suggestions on the problem by studying the financial situation,so as to help the financial risk management of small and medium-sized financial lessors.The first half of this paper is theoretical research.Firstly,this paper analyzes the background and significance of the research and sorts out the relevant literatures at home and abroad,then introduces the theoretical basis and basic theory of financial risk management,and the basic theory of financing lease.In the third chapter,this paper analyzes the financial risks faced by small and medium-sized financial lessors,which's characteristics mainly includes the complexity of the financing lease business model,the dependence of SMEs on bank lending,the way of dealing with financial risk etc.And the risk mainly from the bank interest rate,industry competition,lessee credit,asset management.The financial Risk manag ement procedure of small and medium-sized financial lessors is similar to the general ones,but it should be based on its characteristics and select the corresponding early warning system and measure index.In the fourth chapter,this paper identifies the financial risks of the case enterprise with the Z-score model and measures them by combining the industry supervisoryIndex and financial index,finally puts forward some suggestions which including(1)to widen the financing channel,(2)to innovative financing lease models,(3)to perfect the system of financial risk prevention and control in the business Engineering,(4)to perfect the financial pre-warning system.