Motivation And Performance Research Of Super&Short-Term Commercial Paper(DFI?by J Expressway Investment

Since the establishment of the National Association of Financial Market Institutional Investors(NAFMII)in 2007,China's bond market has been developing rapidly and the bond varieties have been constantly innovating.Promulgated in 2010,"NAFMII of non-financial enterprises short-term financing bonds in the inter-bank bond market business regulations ",officially launched a period within 270 days of new bonds: Super&Short-term Commercial Paper(SCP).2016,NAFMII issued about non-financial corporate debt financing tool for the registration issue rules,the public offering registration work regulation,and the three big system of public registration file form basic file revisions,officially launched a new financing model: unified register many varieties of debt financing instruments.The model for the issuer classified management,the enterprise effective registration period in two years,issued to store shelves,including SCP,four varieties of short-and long-term bonds,for enterprises to issue SCP offer some convenience.But as a result of SCP in development course in our country is still short,unified debt financing tools are also traders association in 2016 issued new rules in China,so far the people's understanding of the issuance shelf issue of SCP still stays in the primary stage.Therefore,this article will through the instance,research our country enterprise registered in unified mode shelf issue SCP of the financial position and operating results,storage rack for our country enterprise to issue SCP provide certain reference value.This paper is divided into five parts,and the first part briefly summarizes the research background and significance,research purpose,research methods and innovation of the enterprise storage shelf.The second part is the literature overview and theoretical basis.On the basis of reviewing the domestic and foreign research literatures,this paper analyzes the research on the issuance of super short-term Commercial Paper of enterprise storage shelves from the three points of "meaning,advantage and risk".The third part introduces the basic introduction of J expressway investment and the short-term financing bond issue.The fourth chapter is the focus of this chapter,the first analysis of J expressway investment shelf issue short-term financing bonds,mostly alleviate the pressure of the enterprise in the short term debt,the flexibility of unified registration mode can guarantee funds.Then,this paper analyzes the effect of the short-term financing of the enterprise storage rack from the perspective of financial index,cash flow,interest expense and operation benefit,and summarizes the advantages of its distribution.In the end,the paper introduces the related Suggestions on the issuance of super short-term Commercial Paper of enterprise storage shelves,and expounds the matters needing attention during the issuance process.The fifth part is the conclusion and prospect of the research,which aims to summarize the full text and draw the conclusion of the research on the issuance of super short-term Commercial Paper of enterprise storage shelves.The motivation of issuing is mainly to guarantee fund demand and reduce debt pressure.The benefit effect mainly includes reducing the distribution cost and improving the operating efficiency.At the same time,from the two aspects of super short-term Commercial Paper and unified registration model,the future research is given a certain prospect.