Design And Application Of A Win-win Model For The Sale And Lease Of Fixed Assets Of Coal Enterprises

With the economic downturn of coal market, coal enterprises fall into financing difficulties. So how to expand new financing channels and how to solve financing bottleneck, have become urgent problems. The rapid development of financial lease could have brought new opportunities for the coal market, but I found that leasing companies had little intention to cooperate with coal enterprises after communicating with several leasing companies in Beijing, Shanghai, and Inner Mongolia. I analyzed and summarized some unsuccessful cases of Sale-leasebacks of fixed assets in coal enterprise. Finally, I found the root of the problem is the unbalance between risks and return. So the paper is based on financing lease related theory, the Sale-leaseback of economic substance and fixed asset Sale-leaseback financing drive, combining with the transaction cost theory, coordination theory and game theory, designed coal enterprise fixed asset Sale-leaseback win-win model which is basis on strategic alliance and aims at sharing the benefits as well as risks.Interview method and Fishbone diagram analysis have been used in the thesis to analyze the disadvantages of the traditional model about Sale-leasebacks in coal enterprise. To adjust the benefits and risks as the break through, with the idea of the balanced score card, the author designed the coal enterprise fixed asset Sale-leaseback win-win model, and in the coal enterprise comprehensive application and verification. Research shows that:Firstly, win-win mode doesn't deny the traditional Sale-leaseback, but take the special industries in a particular period of practical application of the fixed asset Sale-leaseback transaction into account, optimize the traditional fixed asset Sale-leaseback model, and also promote the Sale-leaseback business and other financing lease business to be more widely used. Thus can not only solve the financing bottleneck of the coal enterprises, but also promote the adjustment of regional economies structure, and speed up the innovation of the financing leasing companies. Secondly, Sale-leaseback can be turned into a power assist for the coal enterprises to upgrade, but this need national policy to support. Thirdly, the innovation of the financing lease process is a process of dynamic adjustment of risks and benefits. Coal enterprise fixed asset Sale-leaseback win-win model and traditional mode is the most essential difference between the risks and benefits of dynamic adjustment, the dynamic adjustment will become the breach of breaking the tradition of financing lease and realize the innovation. Finally, the inevitable result of the financing lease development to mature stage is highly cooperation and win-win situation. Win-win cooperation is expected to become a topic of financing leasing innovation to realize the sustainable development. In order to ensure the effective application of the win-win model, the thesis puts forward the corresponding suggestions to the government, coal enterprises as well as financial leasing companies.