摘要
T控股集团是一家银行、证券、期货、保险、基金、信托、租赁全牌
照的金融控股集团,旗下形成了自成体系的投融资生态闭环,旗下各金融
机构自负盈亏,在融资活动中成本利率参考市场定价,在项目推进过程中
依靠集团搭建的融资平台,又有市场化追逐利润的天性,因此该案例在符
合国家部门监管,符合金融市场规则的同时,也有大股东意志这种非市场
化的因素掺杂在里面,是一个不完全市场化的案例,金融行业在我国是一
个管制行业,一个非完全市场化的案例反而是一个较为典型的案例。一个
简单的股权质押融资案例中,整个项目需要融资企业,出资银行,通道机
构三方配合协作来共同完成项目。项目的出发点在出资银行,由出资银行
完成对企业的授信、尽调、上会审核、批复。通道机构根据出资银行的尽
调报告完成内部审批流程,由法务起草三方合同,三方法务一致同意合同
内容后,由三方各自签订合同,融资企业收到款项之日起项目成立

本文对T控股集团的融资案例通过PDCA模型做了流程分析,首先
在项目策划阶段运用波特五力模型、PEST模型对股权质押融资业务模式
所处的宏观环境、模式选择进行了分析,其次在实施阶段运用PDCA模
型为信托计划设立流程提供了理论支持,处置阶段运用SWOT模型对出
质股权价值进行分析,在项目全流程分析后得出T控股集团需要使融资
手段多元化,分散风险的结论

I
北京化工大学专业硕士学位论文
本文第一章总结了国内外的研究成果,并确定了本文的研究方法和研
究路线,第二章阐述了股权质押融资的概念、理论、以及常见模式,第三
章以PDCA模型贯穿T控股集团融资项目案例,结合PEST模型、SWOT模
型、宏观微观相结合的分析方法,详细分析了股权质押融资业务的设立、
实施过程决策,第四章对本文进行总结和展望

关键词:融资,股权,风控,非标准化产品
II
ABSTRACT
CASE ANALYSIS FOR T HOLDING GROUP’S LOAN OF
EQUITY PLEDGE
ABSTRACT
T holdings group is a full licence financial holding group, its
ecological closed-loop sui generis financing, but its various financial
institutions and financial self-sufficiency, in financing cost rates refer to
market pricing. Should not only rely on the group set up in the project of the
process of financing platform, agencies and market profit nature, so the case in
conform to the state department regulations, comply with the rules of the
financial markets at the same time, also has the non-market factors doping in it,
is a case of marketization, but in reality of the financial market in China is one
of the more typical case. A simple equity pledge financing case, the whole
project need financing companies, investment Banks, channel institutions
tripartite cooperate to work together to complete the project. The starting point
of project in investment banking, performed by investment Banks to
enterprise&39;s credit, do, will review and approval. Channel institutions
according to the investment bank to do the report to complete the internal
approval process, by legal drafting tripartite contract, three party after legal
agreed contract content, by the three parties signed the contract, from the date
of receipt of the payment project financing enterprises was established.
i
X
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北京化.1:大学专业硕士学位论文
T holding group financing cases in this paper, through the PDCA
model to do the process analysis, first in the project planning stage using the
baud five model, the PEST model to equity pledge financing business model
for macro environment, model selection are analyzed, and the second in the
stage of implementation using PDCA model set process provides theoretical
support for the trust plan, disposal stage SWOT model to analyze the pledged
equity value, after the project the whole process analysis it is concluded that T
holding group need to make the financing diversification, diversification of
conclusion.
In this paper, the first chapter summarizes the research results at
home and abroad, and to determine the research methods and research route of
this article, the second chapter expounds the concept, theory of equity pledge
financing, as well as the common pattern, the third chapter to the PDCA model
T holding group financing the project cases, combined with the PEST model,
SWOT model, the combination of macro micro analysis method, analyzes the
equity pledge financing business, the implementation process of the
establishment of decision-making, the fourth chapter of this article
summarized and prospected.
KEY WORDS: financing, equity, risk control, non-standard products
ii
ABSTRACT
目录
第一章绪论 1
i.i研究的背景与意义1.2国内外研宄现状1.2. 1国外研宄现状1.2.2国内研宄状况1.3本文研宄的主要内容与研宄方法1.3. 1主要内容1. 3. 2研究方法
…
…||二章股权质押Sft资相关理论2. 1股权质押融资业务基础知识2. 1. 1股权质押融资概念2. 1.2股权质押融资在经济活动中的意义
:.7
2. 1.3股权质押的工商行政规定2.1.4股权质押融资业务模式的相关法律规定和对比2. 2股权价值评估一般办法2, 2, 1市盈法2.2. 2可比交易法2. 2. 3折现现金流2. 2. 4资产法2. 3股权质押融资业务常见模式2. 3. 1买入返售模式2. 3. 2抽屉模式2. 3. 3三方协议模式2. 3. 4两方协议模式2. 3. 5假丙方模式2. 3. 6配资模式2. 3. 7券商资管计划模式2.3.8股票质押式回购模式2. 4担保措施分析2. 4. 1担保的基本理论2. 4. 2几种常见的担保方式介绍m
\
V
&39;
SM
第三章T控股集团案例分析
22
3. 1 T控股集团背景及现状介绍
22
3. 1. 1集团简介和融资模型介绍
22
3. 1. 2 PEST 分析
22
3. 1. 3 T控股集团股权分布现状
23
3.2 XX号信托产品案例
23
3.2. 1 P公司融资模式选择
23
3. 2. 2 XX信托计划设立分析
24
3. 2. 3 XX信托计划风险管理分析
36
3. 2. 4 XX信托计划所涉股权评估结论
38
3. 3股权质押贷款隐含的风险
39
3.3.1出质股东的道德风险
39
3.3.2股权价值评估差异的风险
40
3.3.3股权质押的法律风险
41
3.4股权质押贷款的风险防范对策建议
41
第四章总结和展望
43
参考文献 44
mm 46
作者和导师简介
47
IV
北京化工大学专业硕士毕业论文
Contents
Chapter 1 Introduction1.1 Background 1
1.2 Present situation1.2.1 Foreign country present situation1.2.2 Chinese present situation1.3 The main contents and research methods1.3.1 Main contents1.3.2 Research methodsChapter 2 Theory of Equity Pledge Financing2.1 Fundamental knowledge of equity pledge financing business2.1.1 The concept of equity pledge financing2.1.2 The significance of equity pledge financing in economic activities2.1.3 Industrial and Commercial Administrative Provisions2.1.4 Business model2.2 General approach to equity valuation2.2.1 Price - earnings ratio Method2.2.2 Comparable transaction method2.2.3 DCF method2.2.4 Asset valuation method2.3 Common business model of equity pledge financing2.3.1 Buy back mode2.3.2 Drawer mode2.3.3 Three party protocol model2.3.4 Two party protocol model2.3.5. False C mode2.3.6 Allocation model2.3.7 Brokerage information management planning model2.3.8 Stock pledged repo mode2.4 Guarantee measure analysis2.4.1 Basic theory of guaranteev Contents
.
2.4.2 Introduction to several common securityChapter 3 Case analysis of T holding group3.1 Background and current situatio
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