【作者】 孙峰；

【导师】 刘洪渭；

【作者基本信息】 山东大学 ， 工商管理（专业学位）， 2017， 硕士

【摘要】 中国担保行业随着整个市场经济体制不断完善而发展。经过20余年发展,担保行业在市场经济中的功能越来越突出,成为连接中小企业与银行间接融资市场、票据市场、信托市场和资本市场的重要纽带和桥梁。作为一个新兴的、初显活力的重要行业,中国担保行业快速成长,在服务地方经济和中小企业发展等多个方面发挥着积极的、不可或缺的作用。但同时担保行业又是一个与风险相伴而生的行业,近年来在中国宏观经济下行压力的背景下,担保行业出现代偿率持续攀升、业务量持续萎缩的趋势,担保业务风险识别和管控能力亟需提高。财务分析和评价贯穿于担保项目决策流程的每个阶段,是提升担保业务风险管控能力的重要手段之一。对担保项目进行针对性的财务分析,首先,可以了解企业偿债能力和风险状况,有助于做出是否担保的决策;其次,可以强化担保公司专业化的全面风险管理控制能力,对于担保公司的健康持续发展具有重大作用;最后,可以优化信贷资源的合理分配,引导金融资源更为合理的投放到有发展潜力的中小企业,从而解决中小企业面临的融资难的现状,促进我国经济结构调整。论文通过实地调研和文献研究法对财务分析理论研究进行梳理,并在此基础上,结合融资担保业务模式和特点对目前融资担保业务财务分析现状进行分析。指出目前融资担保业务财务分析存在的问题:首先是财务报表失真,担保决策基础数据不实;其次是财务指标简单罗列,缺乏有效关联分析;再次是财务分析体系零散,难对项目形成整体把握;以及财务分析存在滞后性,缺乏预测能力四方面的问题。针对上述问题,论文分析融资性担保机构财务分析体系的构建思路,形成了“以财务分析为视角、以战略分析为导航、以系统化思维为方法”的财务分析体系构建原则。三项原则相互作用、共同支撑,立足担保行业现状,全面分析担保业务风险。然后在财务分析理论框架和对风险管控机制分析的基础上系统性构建完善的融资担保业务中的财务分析体系。财务分析体系贯穿保前尽职调查、保中风险审核、保后管理全担保业务流程,旨在通过对财务数据进行分析,挖掘数据背后的意义,全面了解企业内在价值和发展潜力,从而做出最优的担保业务决策。保前尽职调查阶段通过对被担保企业所在行业的经济特征和特定的战略进行分析,从而评估被担保企业的盈利性和面临的风险,作为初步决策依据;保中审核阶段着重识别三种被担保企业特有的风险:信用风险、财务风险和经营风险,进一步深化以风险为视角的财务分析理念,做出是否担保的最终决策;保后管理阶段的应用主要是以财务数据为依据来预警和管理风险,采取有针对性的措施及时分散和规避风险,避免担保项目发生损失。最后就融资性担保业务财务体系的顺利实施构建三项具体的保障措施。分别是建立符合担保业务发展的组织架构和业务流程,最大限度的提升风险识别和风险控制能力;打造卓越的企业文化与组织精神,汇集形成企业自身强大的精神力量;加强教育培训和建立人才激励机制,提升员工能力和主动性,为财务体系的实施提供合理的人力资源保障。通过上述研究,明确了融资性担保机构决策中的财务分析体系,也为其他符合条件的担保机构担保业务财务分析体系建设提供了借鉴和参考。更多还原

【Abstract】 China’s guarantee industry develops with the continuous improvement of the market economy system.After 20 years of development,the security industry in the market economy,the function is more and more prominent,has become an important bridge between small and medium-sized enterprises and bank indirect financing market,bill market,trust market and capital market.An important industry as an emerging and emerging energy,China guarantee industry rapid growth,plays a positive and indispensable role in many aspects of serving the local economy and the development of small and medium-sized enterprises.But at the same time,guarantee industry is a risk and the accompanying industry in recent years in the macro China downtown pressure on the economy under the background of compensation rate continues to rise,the business volume continued to shrink the trend of guarantee industry,guarantee business risk identification and control ability needs to be improved.Financial analysis and evaluation runs through each phase of the decision-making process of the guarantee project,and is one of the important means to enhance the ability of risk control and management of the guarantee business.For the financial analysis,first of all to guarantee project,can understand the solvency and risk status of the enterprise and help to make the decision whether to guarantee;secondly,the Guarantee corporation can strengthen the professional comprehensive risk management and control ability,plays an important role in the healthy development of Guarantee Corporation;finally,the rational allocation of credit resources can be optimized.Guide financial resources more reasonable on the development potential of small and medium-sized enterprises,so as to solve the current situation of small and medium-sized enterprises are facing financing difficulties,and promote China’s economic structural adjustment.Through on-the-spot investigation and literature research on financial analysis theory.In this paper,and on this basis,combined with the characteristics of business model and financing guarantee of the financing guarantee business financial analysis analysis of the status quo.Pointed out that the current financing guarantee business financial analysis problems:the first is the distortion of the financial statements,the basic data is not real guarantee decision;second is the financial indicators of a simple list,the lack of effective correlation analysis;financial analysis system is again scattered,difficult to form an overall grasp project;financial analysis and lag,lack of ability to predict four problems.Aiming at the above problems,the thesis analysis ideas of establishing system of financing guarantee financial institutions,the formation of a"financial analysis,strategic analysis for navigation,a systematic thinking method of"financial analysis system construction principle.Three principles,interaction and common support,based on the status quo of the security industry,a comprehensive analysis of the risk of guarantee business.Then,on the basis of the theoretical framework of financial analysis and the analysis of risk management and control mechanism,the system of financial analysis in the financing guarantee business is systematically constructed.The financial analysis system of business process management throughout the whole guarantee before insurance due diligence,insurance risk audit,insurance,based on financial data analysis,data mining and the meaning behind the comprehensive understanding of the intrinsic value of the enterprise and development potential,so as to make the best decision guarantee business.Paul stage due diligence before analyzing the economic characteristics of the secured industry and specific strategies,so as to guarantee the profitability of the business evaluation and risk,as a preliminary basis for decision making;Paul audit stage focuses on identifying three secured firm specific risk:credit risk,financial risk and operational risk,into the a deepening with the risk analysis of the financial perspective concept,the final decision as to whether or not the guarantee;application of insurance management stage is mainly based on financial data to early warning and risk management,take targeted measures to disperse and evade the risk,avoid the loss of guarantee project.Finally,the financing guarantee business of the financial system of the smooth implementation of the construction of three specific safeguards.Are set up in line with the guarantee business development organization structure and business process,to maximize risk identification and risk control ability;build excellent corporate culture and organizational spirit,brings together their own strong spiritual power;strengthen the education training and the establishment of talent incentive mechanism,enhance staff ability and initiative,to provide reasonable human resources guarantee for the implementation of the financial system.Through the above research,the financial analysis system of financing guarantee institution is clearly defined,and it provides reference and reference for other eligible guarantee institutions,guarantee business and financial analysis system construction.更多还原