Study On Financing Risks Of Purchase Tail Asset Securitization Of Country Garden

Asset securitization,as an innovative financing way,has been developing rapidly in the past thirty years.It has become one of the main financing channels besides equity financing and bond financing.As a pillar industry of China’s national economy,the real estate enterprises to ensure adequate funding is the necessary demand for their production and operation,which requires companies to create a diversified financing channels outside the existing financing channels.But any kind of financing risk of its operation,how to deal with the risk of enterprise financing in the process of financing,enhance the success rate,promote the healthy and stable development of China’s real estate market,is one of China’s real estate enterprises facing problems.Therefore,combined with China’s real estate financing and asset securitization industry’s own characteristics,the purchase of real estate asset securitization has become the enterprise innovative ways of financing,to solve a large number of purchase should be the backlog of accounts receivable for the enterprise,enhance the liquidity of the assets,reduce financing costs,broaden the real the real estate business financing channels.This paper will be based on the financing risk of the financing of the purchase of the assets of the garden,which is based on the method of case analysis.literature analysis and comparative analysis.First of all.through the literature analysis method to study on asset securitization,asset securitization financing risk research literatures were collected,collated and summarized,extracted from the asset securitization financing and the financing process of financing risk and other related conclusions from previous studies.Secondly,this paper introduces the general situation of the financing of the real estate industry,and through the comparative analysis of the traditional way of financing and the purchase of the end of the asset securitization financing methods for comparative analysis.At the same time,Country garden company purchase the asset securitization financing operation mode,analyze the financing effect,put forward the enterprise in the process of financing problems:purchase their own risk and asset securitization financing risk arising.Finally,with the financial innovation theory,principal-agent theory,theory of expected income and risk return theory,put forward the countermeasures to reduce financing risk,and summarizes the successful experience of the garden of the purchase of asset securitization financing,provide a reference for other successful enterprises,and puts forward relevant suggestions to promote healthy and stable development of norms,the purchase of the tail section of asset securitization financing.