| With the rapid development of market economy,the innovation of various financial instruments has mushroomed,which provides a lot of space for the development of enterprises.But,our country small and medium-sized enterprise financing difficult problem is has a long history,traditional bank loan financing way for examination and approval of complex,not only to raise money is limited,and the enterprise also faces pressure must be matured;While offering this kind of financing way can raise large sums of money,the enterprise also is not due to repay the pressure,but in this way to raise money more strict approval procedures,and its financing cost is very high.Asset securitization is a financing innovation,asset securitization can effectively improve the efficiency of resource allocation,and compared with the high threshold of bank’s loan and the high cost of financing,asset securitization can yet be regarded as an effective means of financing.Path of asset securitization in our country started in the 1990 s,a short span of 20 years,the way of the asset securitization has developed rapidly,but due to the theory of asset securitization is too complex,involving multiple disciplines,such as accounting,tax,law,securities fields,our country academic research and practical application of asset securitization started relatively late,but the advantage of asset securitization and very outstanding,so for our country enterprise asset securitization case study is very urgent.And asset securitization in China’s development space is very large,in the near future will be a promising future.Therefore,it is necessary to study the securitization of assets.This paper consists of six parts,and the financing of receivables asset securitization by GX Company is a case study.The system analyzes the advantages and key points of this financing method,and puts forward some Suggestions for the future development of GX Company in combination with national policies.The first part is the introduction,this paper expounds the research background and significance of this paper,both at home and abroad about asset securitization,the article briefly expounds related concepts and theoretical research put forward the research methods and ideas,the innovation of this article are pointed out;The second part is the related concepts and theoretical basis,from both at home and abroad route analysis of asset securitization and the development course of receivables securitization,in this way for financing principle to conduct a comprehensive analysis;The third part is to describe the current situation of GX company,especially the current situation of corporate financing and the current situation of receivables management.In the fourth part,we will carry out the case study on the securitization of receivables assets of GX Company,and elaborate the comprehensive system,and analyze the advantages of this financing method.In the fifth part,according to the specific situation of GX Company,the author puts forward some Suggestions on the financing of the financing of receivables securitization.The last part summarizes and points out the shortcomings of the development and theoretical research on the securitization of financing assets of enterprises with receivables,and prospects for the future development.The innovation of this article is based on the analysis of GX Company accounts receivable securitization case,the company will provide reference for securitization,and later in the same industry is affected by new national energy policy of other enterprises to provide reference.GX Company implementation of securitization,through the support on the theory of asset securitization adopt the method of theory with practice case,analyzing the present financing and accounts receivable management present situation,it is concluded that the implementation of receivables securitization will help the company in the case of accounts receivable is rising,revitalize the stock of assets,broaden the financing channels,reduce the financing cost. |
