基于信用增级视角下中小企业集合票据融资模式研究  

Study on the Financing Model of SMEs' Collection Notes from the Perspective of Credit Enhancement

作　　者：刘洋[1] 

机构地区：[1]安徽大学商学院,安徽合肥230000

出　　处：《金融发展研究》2014年第9期65-70,共6页Journal Of Financial Development Research

摘　　要：经过四个年头的发展,中小企业集合票据呈现出良好的发展态势,但依然存在着许多问题,其中最为突出的是信用增级机制的不完善。从实践中发现过于依赖外部增信,增信模式比较单一等问题制约着集合票据的普遍发展。鉴于集合债券和韩国P-CBO模式与集合票据极其相似,本文通过与之相比较并深入分析,提出基于信用增级视角下构建中小企业集合票据的模式,希望对集合票据的推广有一定的借鉴意义。After four years of development, the collection notes of SMEs have shown good momentum of devel-opment,but still are faced with many problems,among which the most prominent is the imperfection of the credit en-hancement mechanism. From the practice that is overly dependent on external credit, the rather single credit enhance-ment mode restricts the universal development of collection notes. In view of the extreme similarity between bond and South Korea P-CBO pattern and the collection notes,through comparing with the in-depth analysis of a collection of in-struments, this paper proposes the construction of the SMEs collection notes model based on the perspective of credit enhancement,and hopes to provide reference for the wide promotion of collection notes.

关 键 词：中小企业 集合票据 信用增级 P-CBO 

分 类 号：F830[经济管理—金融学]