| The Microcredit Companies have developed rapidly since establishment, making great contributions in the service of small enterprises and the "Three Rurals". With its social effect appearing gradually, the microcredit companies have also shown great role in accelerating the reform of financial markets, improving the local financial system, enriching financial products, expanding employment, increasing tax revenue.Micro finance has become more important in financial industry. However, after several years of practice, due to the forbidden deposits from the public, there are strict limitations in leverage from supervision department, so the microcredit companies more or less have the problem in insufficient follow-up funds, which has become a major bottleneck hindering the sustainable development of microcredit companies.Based on the present financing situation of A microcredit company, find out the reasons for its poor financing, then according to the advantage of A microcredit companies, propose the Accounts receivable pledge financing, trust financing and asset backed securitization financing-three new ways of financing. In this paper,Accounts receivable pledge financing, trust financing and asset backed securitization financing three kinds of new financing methods are studied and compared. The paper compares the three kinds of new financing way in characteristics of various financing modes, types, transaction mode and detailed analysis, qualitative comparative way to distinguish the financing modes from the financing availability, financing costs, the comprehensive utilization of funds and financing mechanism to regulate to lay the foundation for the quantitative study on the evaluation model. Finally, based on the financing efficiency theory and transaction cost theory, construct the index system of A microcredit company’s finance evaluation, and use the GAHP to conduct empirical research and quantitative results as the conclusion of financing mode to choose. |
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