Research On Credit Risk Management Of Financial Leasing In The Construction Machinery

Financial leasing is financing pattern with double attributes of financing and leasing assets in the form of leasing-assets and with financing as the characteristics. Modern financial leasing has became one of the three financial financing tools also including credit financing, equity financing. As for the financial leasing companies, capital source, business source, risk control and quit mechanism are the four key connections in the core value chains. And the risk control is not only an important core content in the core value chain, but also connected with the other three connections. Because the essence of financial leasing is debt financing, the main content of risk control is the control and prevent of credit risk of lessee in the process of financial leasing. Compared with the financial leasing of other devices, such as aircrafts, ships, and vehicles, due to the discrepancy of production attributes, customer groups and the process financial leasing, there is larger discrepancy with the financial leasing of other products in the risk prevent and control key point. Thus, it is of great importance to deeply understand the characteristics of financial leasing business, credit risk, improvement of risk control ability and quit mechanism in the construction machinery industry.This paper mainly analyzes the credit risk management of financial leasing in construction machinery industry. Based on the deep analysis of financial leasing business, discerns and analyzes the credit risk in the financial leasing of construction machinery, and pointedly put forward relative policies towards credit risk from risk aversion, risk transfer and risk emergency. Firstly, on the basis of analysis of financial leasing and the relative theory of credit risk management of financial leasing, this paper analyzes the production mechanism of credit risk caused by the asymmetrical information, the classification and concrete performance of credit risk in the process of financial leasing of construction leasing, and constructs the game model of lessor and lessee, finding that lessor can eliminate the asymmetrical information between them by reinforcing the discern of classification of lessee and larger the decoration cost and punish cost of lessee, lessen the unwilling action of lessor and decrease the moral risk of lessee. Secondly, by combining the financial leasing model of construction leasing, and on the basis of risk management theory, this paper pointedly puts forward coping strategy of credit risk including risk aversion dominated by credit rating, risk transfer dominated by credit guarantee of agency and risk emergency dominated by device leasing based on the risk management.