Research On Lessee Credit Risk Management Of Financial Leases In China

Financial leases is a innovative financial tool to financing from leasing articles facing more complicated risk. In China, the mature risk management system for financial leases has not been established yet because the finance leases has not been carried out until recently, especially the influence from lessee credit risk on our country’s finance leases industry is huge. Therefore, In order to offer reference and methods for financial leases company to improve credit risk management, this paper aim to research on lessee credit risk management of financial leases in China using the listed companies as the object of research with both theoretical and empirical methods.This paper chosen Logistic model as the model prototype to study the credit of the target corporation, Using the listed companies’26financial data to create the index system. In order to avoid information overlaps, The data pretreatment is necessary. Firstly, chose Mann-Whitney U test to eliminate the variable indexes which is not significant differences between groups. Secondly use Pearson correlation analysis to test the correlation between variables. Thirdly, explain the multiple linear between variables with two indexes which is TOL and VIF. Then, apply factor analysis to solve the problem of correlation and the multiple linear between variables. Use the extracted six factors as new variables to establishe the listed company credit risk management model-Logistic default probability model, and then prove the effectiveness of the model. After that, established the lessee credit risk comprehensive management system of financial lease. Finally, author put forward the proposal on improve credit risk identification of financial lease.