| Higher education has the very important effect to a country's society economic development. As China's colleges and universities increases enrollment, and the scale of college stuedents continues to expand, the available teaching resources can not fit in with China's rapid development of higher education. Many colleges and universities begin to construct the new campus, expanding their enrollment. Because of the state's limited financial input, the bottleneck problems of funds for the new campus construction of colleges and universities have become increasingly prominent. This thesis conducted a study on the difficulties of the new campus construction financing of colleges and universities, and demonstrate that this asset securitization financing can reslove the financing problems of some of the new campus construction.The thesis discusses the theory of asset securitization and operating characteristics and mechanism of college new campus construction asset securitization.Then carry out its feasibility analysis. Based on the problem that one hand the construction fund is shortage at present during the process of the new campus construction, while on the other old campus has a large number of idle assets (land) can not be timely replaced or disposaled in short-term, the thesis finds we can revitalize assets by the new financing foak way asset securitization to resolve the problem of chock point of funds. Finally takes a working project of college new campus construction as demonstration, and draw a conclusion that the new campus construction is able to adopt the securitization financing. That is to say, during the new campus construction, input the collecting funds that assets of old campus in securitization to the new campus construction to solve the funds gap. Every year, can use the cash flow that old campus produces to pay the interest of the issued bond. When the new campus is established, then gradually replaced old campus in order to pay off the capital . |
