Research On Risk Evaluation Of Enterprise Asset Securitization Products Of Automobile Financial Leasing Industry

At present,China is the world’s leading country in vehicle ownership,with an average growth rate of 7.37% from 2018 to 2022,indicating a good development trend of the Chinese automobile market.Since the restart of Chinese asset securitization market,relevant laws and regulations of enterprise asset securitization business have gradually improved.The transaction volume and stock of asset securitization business of auto financial leasing enterprises show a fluctuating growth trend.At the same time,the sources of risk of auto financial leasing business products are more complex,and there are dual dilemmas in risk identification and risk assessment at the technical and practical levels.Under the above background,this paper takes the product risk and evaluation problems of auto financial leasing business as the research object,designs a risk assessment system combined with quantitative evaluation methods and verifies its applicability,which has important value for further improving the accuracy and evaluation efficiency of risk identification of enterprise asset securitization products in Chinese auto financial leasing industry.This dissertation mainly studies the risk assessment of enterprise asset securitization products in auto finance leasing industry from four aspects.The first part(Chapter 1～2)summarizes the research status at home and abroad,and summarizes the important concepts and theories such as enterprise asset securitization,comprehensive risk management theory and financial risk measurement theory.The second part(Chapter 3)analyzes the development status of Chinese auto finance lease industry and enterprise asset securitization business,and studies the status quo of the risk assessment of auto finance lease enterprise asset securitization products.The third part(Chapter 4-5)establishes the risk assessment model of asset securitization products of auto finance leasing enterprises,and verifies the feasibility and practicability of the model through case analysis.The fourth part(Chapter 6)summarizes the whole paper and puts forward relevant policy suggestions.The core research conclusions of this paper are as follows: First,this paper constructs the risk index system of asset securitization products of auto financial leasing enterprises,among which the risk levels of operation risk,credit risk and financial risk are relatively high.Secondly,this paper comprehensively weights the constructed product risk index system through fuzzy analytic hierarchy process,and obtains the weight ranking of each risk index through a series of operations.Third,This paper suggests that we can effectively prevent and control auto financial leasing enterprises by strengthening the management of the auto financial leasing market and the enterprise asset securitization market,standardizing the technical operation before and after the issuance of asset securitization products,optimizing the product issuance process,improving the relevant legal contracts,preventing the risk of early repayment,strengthening the audit of loan service institutions,establishing a strict internal control system and other measures Industry assets securitization products of various risks.The main contributions of this dissertation are as follows: First,this dissertation innovatively integrates questionnaire survey,fuzzy analytic hierarchy process and fuzzy comprehensive evaluation method to build a risk assessment model suitable for evaluating asset securitization products of auto financial leasing enterprises.Second,through the risk assessment of actual cases,this dissertation suggests that the accuracy of risk assessment of enterprise securitization products can be improved by improving the relevant risk assessment policies in laws and guidelines,dynamically optimizing the risk assessment index system,improving the scientific nature of risk index weighting methods,and building risk information platform for industrial securitization products.