Risk Control Study About Financial Leasing Companies Participate In Local Platforms

In April 2017,the international rating agency Standard&Poor's downgraded the credit rating of Jiang Su NHL Development Limited,this is the first time that Standard&Poor's downaraded the credit rating of local financing vehicles in China.This acting get all attention of the risk from local financing vehicles.As important sources of fundi it is more important to financial leasing companies to reduces the risk when cooperate with local financing vehicles.We will use regression analysis to quantitative analysis the risk of local financing vehicles,and through case studies to analysis how to control the risk in practical application.Different from normal companies,local financing has especially background,local government will give the implicit guarantee by land or financing incoming.So it also different from normal company,financial leasing company will use the different credit extension policy to the local financing.Local economy will be more important than the industry situation and business condition.Based on visit the local financial company,we know the real type of the business and financial situation,and reading a lot document.Combine with the author's working experience,according to the risk control measures of financing leasing company Y,eventually choose GDP growth rate,local GDP growth rate,the industry's overall gross margin level,balance sheet and cash flow as the main reference index.There are six parts in this thesis.The first part is introduction.Discussed he study background,study methods,study ideas and study model.The second part is about literature review,reorganization analysis all the related materials of domestic financing leasing companies and local financing vehicles.The third part is the foundation of this research,analysis the basic situation of domestic financing leasing companies and local financing vehicles.The fourth part is the key chapter,based on the real situation of the local financing vehicles,chose the Logit model to regression analysis the risk.By introduce five variables of GDP growth rate,local GDP growth rate,industry overall gross profit margin,cash flow and capital structure to analysis the relationship of macro factor,local financing factor,industrial factor,own factors and the probability of default.Local financing factors has a greatest effect to the probability of default,secondly is macro financing factor,this is because the government background of the local financing vehicles.Cash flow situation and capture structure both have influences to the probability of default.The industrial factor almost have no influence to the default The fifth part is case analysis,based on learning the reasons of the risk,by analysis the case of the risk control model by Shang Hai one financing leasing company to understand the application of fuzzy comprehensive evaluation method.The sixth part is conclusion and advises,conclusion the risk classifications,and give some advices according to actual working experience...