Research On Risk Management Optimization Of ZL Enterprise Asset Securitization Project

In recent years,with the continuous expansion of the newly issued scale and stock scale of enterprise asset securitization products in China,its risk problems are frequently exposed.As the plan manager of asset securitization projects,securities companies have great responsibilities.Especially under the background of strict regulation,stable leverage and supply side reform of financial industry,enterprise asset securitization business is becoming an important profit growth point for securities companies.At the same time,due to the large number of participants in asset securitization and the complexity of project development,securities companies must regard risk control as the top priority in business development to ensure project quality and long-term development of related businesses.From the perspective of plan manager,this paper first introduces the background of the sharp increase in the scale of China’s enterprise asset securitization market and the frequent occurrence of risk problems,and combs and studies the relevant research results and research methods of domestic and foreign experts and scholars on the risk management of enterprise asset securitization.Then,the paper analyzes the characteristics and causes of risk events of corporate asset securitization projects in China from 2015 to June 2021,and divides the risk links of corporate asset securitization into issuing subject risk,underlying asset risk,credit enhancement rating risk and duration management risk.Then this paper analyzes the basic situation of ZL enterprise asset securitization project and the existing risk control measures,thus leading to the necessity of risk management of the project.Then,this paper identifies the risk of ZL enterprise asset securitization project,determines the case project risk index system and establishes ah P-entropy weight risk comprehensive evaluation model to quantitatively evaluate the risk situation.The evaluation results show that the overall risk of the project is relatively low,and the internal risks of the project from high to low are the risk of credit enhancement,the risk of determining the underlying assets,the risk of issuing subject qualification audit and the risk of duration management.Finally,according to the results of project risk assessment,the paper further puts forward the optimization measures of project risk control from the four main risk links.