The Risk And Effect Of The Home Purchase Abs Study Of Country Garden

The real estate industry is a high-risk,high-investment,high-return,capitalintensive industry.The total investment in developing a real estate project needs to reach 10 million yuan or even 100 million yuan.It is well known that real estate industry projects have long investment cycles and slow cash returns,so sufficient funds are a prerequisite for ensuring the normal operation of enterprises.At present,China’s restrictions on the real estate industry are constantly changing,monetary policy is gradually tightening,the restrictions on real estate companies are becoming more stringent,the threshold for loans is increasing,and the rules for bank lending are becoming clearer.As the cost of capital in the market continues to rise,Traditional financing has been unable to meet the funding needs of real estate development companies,so companies need to find new ways to finance.This paper focuses on the highly innovative financing model of asset securitization,which has been gradually developed in recent years.Taking country garden home purchase of securitization financing as an example,using case analysis,literature analysis,comparative analysis,analytic hierarchy process and fuzzy synthesis.The evaluation method is conducted.Firstly,extensively read the domestic and foreign research literature related to asset securitization financing,and sort out the research on the motivation,risk and effect of asset securitization by domestic and foreign scholars,and summarize the research literature on asset securitization at home and abroad.Then it sorts out the development status of China’s asset securitization and the development status of real estate enterprise financing,which shows that the financing model of securitization of housing purchase has great room for development.After that,the basic situation of this case,the securitization goods purchased by Country Garden and the specific operation process of the financial products were introduced.Then,using the level analysis method,the risk factors existing in the process of securitization of Country Garden purchases are analyzed,and the index system is established.The relative weights of each index are calculated through the judgment matrix,and the impact size is analyzed.Combined with the analytic hierarchy process,fuzzy integration is used.The evaluation method calculates the risk level value of the securitized products purchased at the end of the house,and finally concludes that the risk level of the securitized products purchased by Country Garden is “weaker”.Finally,from the three aspects of the integration,integration and other financing effects of the fund,the research on the securitization of Country Garden purchases was carried out.In general,Country Garden’s corporate financing performance improved after the purchase of the finalized securitization financing.Therefore,this paper believes that the risk of securitization at the end of the purchase is low,which is conducive to improving the financing situation of real estate enterprises.It can be accepted as an innovative financing method by more real estate companies.Real estate enterprises squeeze a lot of purchases at the end of the house.This paper believes that financing the way of buying and selling the last part of the house through asset securitization can not only solve the funding problem under the lower risk and financing capital cost,but also enhance it.The liquidity of corporate assets,the expansion of financing channels,and the enhancement of innovation and vitality of enterprises have strong universality in the real estate field.Research on securitization of the purchase of housing has also promoted the development of asset securitization and promoted the prosperity of financial markets.