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Research Of Risk Management In Construction Project When Using ABS To Enlarge Investment

Posted on:2006-08-03Degree:MasterType:Thesis
Country:ChinaCandidate:C LinFull Text:PDF
GTID:2156360152970743Subject:Road and Railway Engineering
Abstract/Summary:PDF Full Text Request
Since the innovation and open of China, the development of foundation facilities can' t keep up the pace of economy growth. In order to guarantee the rapid and sustaining growth of economy, enough investment becomes a key solution. The imminence of enlarging investment in foundation facilities and the limitation of traditional financing ways makes asset-backed securitization become a new feasible way to solve the problem of absence of capital in foundation facilitiesAsset-backed securitization, one of the most important financial innovation since 1960's in the international financial circles, has been starting on swift expansion to every western country and some outstanding developing countries from its birthday. However, in China, asset-backed securitization is still in the theory research stage and absorbed many economists in it.Construction projects which has the characteristics of huge investment and long developments period will have more potential possibilities in construction process to be out of control. Besides, asset-backed securitization is different from the traditional financing ways .It needs a long time to research not only in Knowledge but also in operation, because of difference ,there are a lot of indeterminations, namely risk we did not meet in the projects before . So it is very necessary and significant to take risk management in construction project when we use asset-backed securitization to enlarge investment in projects.At first, this text has briefly introduced general concept, the principle used and operation course of asset-backed securitization, and feasibility and necessity that asset-backed securitization financing way is utilized in building foundation facilities in our country. On the basis of through analysing to the characteristic of infrastructure financing and asset-backed securitization financing way , this text describes the theory, method and technology of project risk management around the project construction of asset-backed securitization, the focal point lies in researching and analysing the peculiar kinds of risk question in thiscourse, and use various kinds of advanced methods and technology of project risk management to discern the risk, appraise the risk and reply risk in asset-backed securitization project.In addition, this text also utilizes the financing investment theory to appraise the basic assets of asset-backed securitization. Such as adopting profit ability index of project financial affairs appraise to analyse the economic intensity of basic assets in asset-backed securitization project , expect to do an abundant , rational appraisal to the economic intensity of the project, prove the profit ability of the project objectively. Utilize the sensitiveness to assess the ability to resist risk of the basic assets cash flow risk factor of the asset-backed securitization. Use some model ,such as industry and commerce grant the loan credit risks assess model ,to carry on quantitative analysis and assessment to the risk in the course of asset-backed securitization.
Keywords/Search Tags:Foundation facilities, Asset-backed, securitization(ABS), Investment financing, Risk management
PDF Full Text Request
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