The Risk And Price Analysis Of Account Receivable Asset Securitization Of Jingdong Ious

with our country securities market gradually matured,asset securitization is more and more acceptable to domestic market,Mortgage-Backed Securitization,Chargesl loan Securitization,Receivables Securitization,Commercial charges securitization and a variety of asset securitization products appear.Now the big proportion of accounts receivable in China seriously restrict the development of the company,so companies choose to use receivables securitization for financing.now this securitization way is popular,if we can control risk factors of it,maybe we can provide liquidity for our capital market and promote the development of economy,but now domestic scholars have few research on such problem,especially the accounts receivable risk problem,so this article research has theoretical and practical value.I select the JingDong ious accounts receivable securitization special plan as the research object.Because it is the first single Internet consumer finance ABS and JingDong's first accounts receivable securitization,this securitization product has high research value.First,the paper expounds systematically the JingDong ious accounts receivable securitization and summarize that JingDong ious accounts receivable securitization has risks and need careful attention.Then,the paper detailed decripts the participants risk,trade structure risk and financing risk of the JingDong ious accounts receivable securitization.Finally,the paper uses Option Adjusted Spread Model for pricing analysis on JingDong ious accounts receivable priority grade 2asset-backed securities.The pricing results are similar to market price.Therefor,this research not only supports the discuss about the risk in the above case,but also propound model order determination for the products of JingDong ious accounts receivable securitization.In the end,according to the above analysis of risk and price,the paper put forward the suggestion of risk prevention in the financing of JingDong.