Study On Risk Prevention Of Equity-based ABN Financing For Company Z

In recent years,as state-owned enterprises fulfill the relevant national tasks and indicators,their own debt scale has also expanded rapidly,resulting in a high asset-liability ratio.To this end,the central government has decided to vigorously promote the policies and guidelines of central and state-owned enterprises to reduce leverage and reduce debt.The equity asset securitization products that have appeared in the market recently can not only help companies raise funds but also complete the task of deleveraging.However,in the process of equity asset securitization financing,many problems have also been exposed,which has increased the financing risks of state-owned enterprises and brought great risks to relevant state-owned enterprises that want to complete the indicators.The case draws on the literature of domestic and foreign experts and scholars to quantitatively and qualitatively analyze risk identification,risk assessment,and other aspects of the risk management process based on asset securitization theory,financing risk management theory,etc.The case takes Company Z,a state-owned enterprise in the agricultural industry,as the research object,and uses a combination of research methods to identify and analyze the financing risk factors arising from its financing process using equity-based ABNs in the context of Company Z’s current development.The first step is to identify the current financing risks of Company Z by combining the checklist method and the expert survey method,and to determine the list of risks,and to analyze the liquidity level,underlying asset level and fund default repayment level in the preparation and issuance process,the policy and law level,the reclassification level of financing funds,the company’s operation level,the fund In the second step,a risk index system is constructed for the financing risk of Company Z by using the cascade analysis method,and each risk factor is assigned and calculated to obtain the weighting of each risk factor,and then the size of the financing risk is derived by combining the fuzzy comprehensive evaluation method.Finally,we propose corresponding risk prevention measures based on the risk assessment results,as follows: for the preparation and issuance risks,we propose measures to strengthen information disclosure management,focus on the quality of underlying assets and actively develop default prevention measures;for the duration management risks,we propose measures to study the external environment to establish strong policy sensitivity,strengthen the construction of positions and functions in the finance department,improve the company’s For the risks in the management of the duration of the product,the company proposes to study the external environment to establish strong policy sensitivity,strengthen the positions and functions of the finance department,improve the operation management level of the company,and build a product risk early warning system.The introduction of equity-based ABN financing by SOEs can facilitate the achievement of targets and access to funds,but some potential risks also come with it.In order to ensure the sustainable development of SOEs,we should strengthen the study of these risks and adopt reasonable countermeasures to avoid the risks of equity-based ABN financing.Thus,the study on the prevention of equity-based ABN financing risks of Company Z can reduce the financing problems of SOEs and alleviate the related pressure.