Discussion Of Listed Companies Sale-Leaseback Financial Leasing Dynamic Analysis And Effect Evaluation

The expansion of production capacity requires a lot of financial support,the funds source has become the core issue in enterprise development,although the fund-raising through different financing channels meets the demand for the enterprise development.With the improving of the enterprise development speed,the pressure are increasing,which requires low cost and high benefit of financing model to solve this problem,under this situation,the new mode of financing lease after-sales leaseback came up.With the realistic demonstration of the effect of this model,enterprises are constantly improving their recognition and expanding their use scope.In recent years,the performance of financial leasing has been particularly unique in terms of its application advantages,which include: enriching financing channels,enhancing asset liquidity,and optimizing resource allocation.Especially for small and medium-sized enterprises,they can achieve the objectives of reducing costs,promoting the upgrading of equipment,and resolving financing difficulties.These functions of financial leasing are closely related to the stable development of enterprises.Therefore,more and more companies are beginning to realize the importance of financial leasing and began to try to use this type of financing.As an innovative financing tool,financial leasing has played a very important role in corporate financing,and its share in financing has also increased year by year.According to the latest 2016 statistics financial leasing industry development report the financial leasing contract has reached 3 trillion Yuan.By the end of 2016,according to the relevant information of China's financial leasing enterprise management information service platform,there were 6,158 financial leasing companies registered in the country.By the end of 2015,the number was only 3,615,an increase of 70.3%.From the data above,it is clear to see that financial lease plays an increasingly important role in the development of the economy,while the mode of sales-leaseback takes up occupies 70% and has become a frequently used mode.Therefore,from the perspective of the lessee,this paper makes a theoretical analysis on the causes and effects of the after-sales lease recovery,which helps enterprises to enhance their understanding and application of it.The three major theories about financial leasing that are frequently used abroad are the tax difference theory,debt replacement theory,agency cost and bankruptcy cost theory.In the three major theoretical studies,the factors that affect the sale and leaseback have mentioned the tax rate factor,debt ratio,profitability,and business growth.Based on the three major theories of foreign research,this article finds out the impact of these factors on the sale and leaseback of domestic companies Tianbao Heavy Industry,and finds out the strategic motives that drive companies to adopt after-sales leaseback.Then provide reasonable suggestions for better and faster development of the financial leasing industry.By combining the theories and cases,the article discussed the issue based on the analysis of the case.In theory,after reviewing and analyzing a large number of domestic and foreign research literatures,based on the relevant concepts of financial leasing and leaseback,it analyzes in depth the strategic motivations and economic effects of listed companies for sale and leaseback.As for the aspect of actual case,the article introduces the basic information of Tianbao Heavy Industry,and then made a conclusion about the strategic motive as well as the short-term goal of its sale-leaseback.Through analyzing the risk control plan,the article made a further research about the economic consequences of its sale-leaseback.This article will be expanded from the following five sections.The first chapter,the introduction of this paper,mainly introduces the research background and significance of this paper,reviews and comments on relevant literature at home and abroad,writing ideas and methods,and the framework of this paper.Chapter two,the basic theory of finance lease.It mainly includes relevant concepts of financial leasing,relevant concepts of after-sale lease,strategic motivation of after-sale lease of listed companies and theoretical analysis of economic effects.Third,Through for Tianbao heavy financing lease company about financing lease after-sales leaseback business analysis of the project,mainly including after-sales rent all parties involved in the main body introduces the lessee industry market financial aspects such as case analysis,and to understand the whole after-sales leaseback case,so that readers can have a more in—depth understanding.Fourth,it analyzes the strategic motivation,target setting and risk control of the after-sales release project of Tianbao reinstall,and finally evaluates its effect.In chapter 5,the research conclusion is drawn based on this case,hoping that the above four modules can provide some references for the whole financial leasing industry,the financial leasing industry is likely to have a long-term development.