《我国中小企业融资租赁发展对策研究—金融专业毕业论文外文翻译.doc》由会员分享，可在线阅读，更多相关《我国中小企业融资租赁发展对策研究—金融专业毕业论文外文翻译.doc（55页珍藏版）》请在三一办公上搜索。
1、 2014届本科毕业设计（论文） 文 献 综 述 题目我国中小企业融资租赁发展对策研究 学 院 法商学院 专 业 金融专业 文献一：The Research on Financial Leasing and Chinas Small Micro EnterprisesAbstract：The financing difficulties is Chinas small micro enterprises existence a universal problem, it has become the main small micro enterprises development of a b
2、ottleneck. The financial leasing in the service of small micro enterprises has marked effect. First, to broaden the financing channels of small micro enterprises, second, reduce the fund pressure of small micro enterprises, and the third, promote the technology innovation of small micro enterprises,
3、 fourth, promote the market development of small micro enterprises. Due to lack of necessary knowledge on financial leasing, corresponding policies imperfect, lack of the necessary capital supply, affecting the development of financial leasing. To promote the development of financial leasing, China
4、should establish uniform management system, improve the relevant policies, expand the funding sources of financial leasing.Key words: Small micro enterprises; Financial leasing; Role; Problems; SuggestionsINTRODUCTION：Small micro enterprises in the process of economic development of China plays a mo
5、re and more prominent role, however, Chinas small micro enterprises generally faced the difficulty of shortage of funds. How to solve the financing problems of small micro enterprises is a hot issue in Chinas economic development. Studies have shown that financial leasing is an effective way to solv
6、e the financing difficulties of small micro enterprises in China. Positive development of financial leasing, can effectively resolve the financing problems of small micro enterprises, thereby promoting economic development.Financial Leasing as a new way to trade, it put the traditional rental, trade
7、 and financial way all organic combination up, be understood as a financing bank loans and capital markets after the third road. Financial leasing has the dual function of financing and financial objects, has its unique advantages in the service of the real economy, especially in services to small m
8、icro enterprises. In 2010 June, Chinese financial authorities issued further completes the small micro enterprise financial service work certain opinions, requirement to the development of the financial leasing business. The full display financial leasings function, may promote the small micro enter
9、prises development effectively.1. FINANCIAL LEASING IS THE IDEAL FINANCING OPTIONS FOR SMES IN CHINABecause Chinas small micro enterprises financing channel is narrow, the financial leasing in service for small companies can give full play to the advantages provided a condition.The enterprise financ
10、ing way has stockholders rights financing and the creditors rights financing two types. Stockholders rights financing can be divided into two forms: public offering and private collect. The public to raise financing is IPO financing. From the present situation of the development of Chinas capital ma
11、rket see, through the IPO of the financing of enterprise are only a small part, thousands of companies listed on the inside and outside is only a very small part of the tens of millions of enterprises. Do not need to undergo a rigorous listing of the audit through a private placement financing, rela
12、tively speaking, easier to achieve financing, however, due to the operation of the private equity funds to achieve legalization, even though the public has a lot of private equity funds exist, but really be able to supply the amount of money is relatively limited. On the creditors rights financing,
13、at present Chinas form of creditors rights financing is single, mainly bank credit channel. Bank considering security problems, often to provide money for a credit ratings, the strength of large enterprises, in addition, due to the bank credit market degree is relatively low, not established truly m
14、ature enterprise credit rating system, especially the rating system of the small micro enterprises, so that the bank credit activity impossible cover a much wider range of debt financing needs, only to meet a range of financing demand. So, small and medium-sized enterprises, especially small micro e
15、nterprises financing constraints become enterprise development of a bottleneck. Financial leasing way was invented in the 1950s, as a kind of long-term debt financing, is by the lesser according to the lessees need, in advance in accordance with the contract, the lessee to designated betray a person
16、 to buy the lessee designate d fixed assets, in the lessor has the fixed assets under the premise of ownership, to the lessee pays the rent for conditions, will be a period of time fixed assets and earnings of the right to transfer to the lessee. Financial lease financing way has several obvious fea
17、tures: First, the lessee may have a full financing. Second, can save the lessees capital investment, reduce business cash flow pressure. Third, the leased equipment is selec ted according to their needs to determine by the lessee. Fourth, lease activities involve at least three parties, can form the
18、 mutual restrict. Fifth, after the expiry of the lease, the lessee of the equipment used dispose of the three options remain to purchase, renew or surrender of tenancy rights. At the same time, the financial leasing has the function of financing and product promotion function. Financial leadings cha
19、racteristic and the function speaking of the financing channel narrow small micro enterprise, is one relatively ideal financing solution way. Therefore, financial leasing has superiority serves for the small micro enterprises, it easier to become one kind of substitution choice of small micro enterp
20、rises long-term creditors rights debt financing. 2. THE ROLE PLAYED BY FINANCIAL LEASING SERVICES TO SMESFinancial leasing advantage decided it has a unique role in service for small micro enterprises. Financial leasing has the following advantages: First, provides professional services for small mi
21、cro enterprises. Leasing companies often choose some specific industry to carry out leasing business, can provide enterprises with professional services. In the process of cooperation with the enterprise, the leasing company in addition to providing financing service outside, with the development of
22、 it industry, enterprise to the understanding of the profit model, and master the management of the enterprise, which objectively can play on small micro enterprises guidance. Second, procedure is simple, flexible service. Usually, the small micro enterprises has short, anxious, the quick characteri
23、stic to the fund demand. Compared with the bank credit, financial leasing to the lessee of assets and liabilities of the requirements is not high, do not need to strict examination and approval, only need to the lessee of the future cash flow of an investigation. The small micro enterprises with ren
24、ts the company to work out the different contract, satisfies the tenant to the cash flow request, the rent payment pattern may also process nimbly. Therefore, financial leasing way more accord with small micro enterprises capital demand characteristic. Third, helps small micro enterprises to reduce
25、operation risk. Not afford to buy production equipment, the lessee obtained through financial leasing equipment, the project put into operation as early as the early benefit from improved operating efficiency. The financial leasing reduces the outflow of funds for the enterprise equipping. Financial
26、 leasing scheme is designed with a certain degree of flexibility, leasing companies can be tailored according to the enterprises cash flow rent repayment plan, avoid enterprise repayment pressure too concentrated, thereby reducing the financial risk. Entered into a lease contract, the equipment pric
27、es, rentals and other important issues are to determine the one-time, the lease term remains fixed, thus reducing the uncertainty due to price fluctuations in the process of renting. Because financial leasing has the advantage, therefore, it plays a unique role in service for small micro enterprises
28、.2.1 Expand the Small Micro Enterprises Financing Channel Bank considers to the safety of the credit funds to set up corresponding assets loan mortgage conditions, the small micro enterprises are restricted by many factors, it is difficult to obtain loan from the bank. Compared with the cumbersome p
29、rocedure of the bank loans, financial leasing often do not require the lessee to provide credit guarantee finance simplicity, therefore, the financial leasing for those in the early days, theres no mortgage assets, the lack of complete credit history, asset-liability ratio higher small micro enterpr
30、ises, especially small micro enterprises in the start-up stage to provide a realistic financing channels.2.2 Reduce the Small Micro Enterprises Fund Pressure Compared with corporate self-purchase of equipment, through financial leasing, the lessee pays the rent way to obtain the right to use of mach
31、inery and equipment, a combination of financing and investment, to create the operating profit. Although the equipment not getting the ownership of the equipment, but, the enterprise to pay the rent for the far less than the amount needed for the lump sum investment financing volume. With the aid of
32、 financial leasing, the lessee is by equipment, return the money, namely to rent way to pay for the equipment. The rent installment payment amount by the lessee and the lessor is both in their cash flow condition considered after certain, beneficial to the lessee cash flow, managing enterprise capit
33、al expenditure, reduce the financial pressure. In addition, because of the financial leasing is not included in the companys balance sheet, through financial leasing enterprises can reduce the rate of assets and liabilities, for the enterprise development laid the foundation for other financing acti
34、vities2.3 Promote the Small Micro Enterprises Technological Innovation Financial leasing can make both supply and demand meet directly, reduce the intermediate link, so as to facilitate the equipment into the fields, and drive enterprise production development, financial leasing to become the link o
35、f enterprises cohesion production and sales. Due to the strength of strong small micro enterprises reduce the full risk of equipment investment, so that enterprises have more energy to track changes in the market, accelerate technical innovation pace, produces more competitive products. Small micro
36、enterprises through financial leasing to reduce the burden of equipment investment, quickly get the needed technology and equipment. This way can shorten the technological transformation of the enterprise and equipment renewal cycle, through the continuous rent advanced equipment to shorten the time
37、 machine equipment use, thus speeding up production equipment renewal, maintain production technology lead, and seizes the market opportunities.2.4 Promote the Small Micro Enterprise to Develop the Market Financing and the sale are two difficult problems which the small micro enterprises faces. Fina
38、ncial leasing has not only solved enterprises financing problem, moreover the help enterprise has developed the market. May reduce the selling expenses through financial leasing, reduces purchases the threshold, enhancement customer purchase ability, to reduce sells links account receivable and the
39、time sale risk. At the same time, because financial leasing is one kind manages the behavior, between the lessor and the tenant maintains continually the good communication condition, the tenant can act according to the customer feedback the information, carries on the renewal and the consummation t
40、o the product, maintains the product the lead. Through financial leasing, may communicate the finance, the trade, to produce three markets, the guidance capital reasonable order is mobile, promotion financial capital, industrial capital and trade capital fusion. 3. THE PROBLEMS OF CHINAS FINANCIAL L
41、EASING AND WHY2011 China financial leasing industry development report shows, to the end of 2011, 286 Chinese operations in the book all types of financial leasing companies, financial leasing contract balance of approximately 930 billion yuan. Should say, financial leasing industry development scal
42、e and the development of the Chinese economy condition is dont match3.1 Problems of Financial LeasingAlthough China financial leasing business started in 1981, but look on the whole, it is still a new business in China, is still in the initial stage of development, the external market environment, t
43、he legal environment is still not perfect and mature. As the main body of market rental company professional skills, management level, risk control ability has yet to be further improved. 2011 China financial leasing industry development report listed the problems of Chinas financial leasing industr
44、y: First, to financial leasing profession understanding existence erroneous zone. The Department concerned thought that financial leasing will boost the inflation, thus, the financial leasing company has adopted the scale control policy, rented enterprises sources of fund to come under the influence
45、. Second, financial leasing business in areas around the development is not balanced. As 90% of all types of financial leasing companies are concentrated in 30 cities, including Beijing, Shanghai, Tianjin, while the rest of the country more than 200 Earth-level above the city, including some capital
46、 cities, has not a financial leasing company. Third, relevant laws and regulations are not perfect. The development of financial leasing industry still lacks a unified and effective judicial safeguard. Fourth, financial leasing companys risk awareness is still relatively weak. The country related su
47、pervisory departments supervision system is not perfect. Many lease enterprises did not set up effective risk control mechanism. Some lease enterprise on a smaller scale, but business promoting soon, capital adequacy ratio even less than 1%. Some comprehensive lease in the business enterprise develo
48、p, after-sales back to the proportion of the rent is too big. In addition, Chinas financial leasing industry regulation is not uniform. Chinas financial leasing industry, according to the different nature of the investor, by the Peoples Bank of China, the CBRC, the CSRC, the Ministry of Commerce of
49、China, both funded by commercial banks or the four asset management companies, non-bank financial institutions supervision by the CBRC, also includes by each kind of non-financial enterprise investment, the Ministry of Commerce of China is responsible to supervise, not to include the financial organ to rent the company。3.2 The Cause of the ProblemsThe main reason is to influence the
