不良资产经营策略及资本化运营模式
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摘要
中国不良资产市场可划分为政策性、准商业化、全面商业化三个发展阶段,在此期间,不良资产的内涵和运营模式都经历了不断丰富和优化的过程。历经20年的变迁与发展,不良资产市场在供给侧和需求侧孕育出新的趋势与变化。独特的运营对象塑造了不良资产市场五大独特的经营理念与策略,在实际业务操盘层面,需要练好核心能力,实现不良资产价值提升。随着不良资产运营手段的丰富和完善,近年逐渐发展出"RAIR"并购重组、合作设立不良资产基金、纾困基金等不良资产资本化运营模式。
After 20 years of change and development, the non-performing asset market has bred new trends and changes on the supply side and the demand side. The unique operational objects have shaped the five unique business ideas and strategies of the non-performing asset market. At the actual business operation level,it is necessary to train six core competencies to achieve the value of non-performing assets. With the enrichment and improvement of the means of operation of non-performing assets, in recent years, the"RAIR"mergers and acquisitions, the establishment of non-performing assets funds, the bailout funds and other nonperforming asset capitalization operation modes have been gradually developed.
After 20 years of change and development, the non-performing asset market has bred new trends and changes on the supply side and the demand side. The unique operational objects have shaped the five unique business ideas and strategies of the non-performing asset market. At the actual business operation level,it is necessary to train six core competencies to achieve the value of non-performing assets. With the enrichment and improvement of the means of operation of non-performing assets, in recent years, the"RAIR"mergers and acquisitions, the establishment of non-performing assets funds, the bailout funds and other nonperforming asset capitalization operation modes have been gradually developed.
引文
[1]李海平.我国不良资产市场概况与发展趋势[J].宏观经济研究,2005(11):21-25.
[2]胡海琼,陈超.我国AMC的发展定位与不良资产市场的构建[J].华北金融,2005(8):35-38.
[3]左大培.“冰棍效应”评判[J].科学决策,2004(11):22-24.
[4]阮培宁,高檩.如何启动不良资产的运营[J].经济论坛,2002(9):43.
[5]全通.浅析资产管理公司并购重组业务[J].中小企业管理与科技(下旬刊),2018(1):37-38.
[6]刘锋.坚持市场化完善纾困基金配套机制[N].中国证券报,2018-12-08(A07).
[7]杜金.中国长城资产:新常态下并购重组业务价值凸显[N].金融时报,2016-04-11(A2).
[8]李颖靓.国有上市企业破产重整成功经验研究[D].北京:北京交通大学,2018.
[9]张平.中国铁物的战略突破[J].企业管理,2012(6):78-81.
[10]李玉敏,等.长城资产副总裁周礼耀:资产公司应担任“三种银行”的角色[N].21世纪经济报道,2017-06-09(11).
(1)数据来源:2018年中国证券报中证网。
(2)数据来源:2018年中国民生网。
(3)数据来源:2018年中国证券报中证网。
[2]胡海琼,陈超.我国AMC的发展定位与不良资产市场的构建[J].华北金融,2005(8):35-38.
[3]左大培.“冰棍效应”评判[J].科学决策,2004(11):22-24.
[4]阮培宁,高檩.如何启动不良资产的运营[J].经济论坛,2002(9):43.
[5]全通.浅析资产管理公司并购重组业务[J].中小企业管理与科技(下旬刊),2018(1):37-38.
[6]刘锋.坚持市场化完善纾困基金配套机制[N].中国证券报,2018-12-08(A07).
[7]杜金.中国长城资产:新常态下并购重组业务价值凸显[N].金融时报,2016-04-11(A2).
[8]李颖靓.国有上市企业破产重整成功经验研究[D].北京:北京交通大学,2018.
[9]张平.中国铁物的战略突破[J].企业管理,2012(6):78-81.
[10]李玉敏,等.长城资产副总裁周礼耀:资产公司应担任“三种银行”的角色[N].21世纪经济报道,2017-06-09(11).
(1)数据来源:2018年中国证券报中证网。
(2)数据来源:2018年中国民生网。
(3)数据来源:2018年中国证券报中证网。