武汉大学本科毕业论文-发达国家资信评级体系(已修改)

　 　 　

【正文】 学号 密级 ________________ 武汉大学本科毕业论文 发达国家资信评级 经验借鉴 院（系）名 称：经济与管理学院 专 业 名 称 ：金融学 学 生 姓 名 ： 指 导 教 师 ： 二○ 年 月 日 BACHELOR39。S DEGREE THESIS OF WUHAN UNIVERSITY Credit rating experience of developed countries for reference College ： Economics and management Subject ： Finance Name ： Directed by ： 2021 郑 重 声 明 本人呈交的学位论文，是在导师的指导下，独立进行研究工作所取得的成果，所有数据、图片资料真实可靠。尽我所知，除文中已经注明引用的内容外，本学位论文的研究成果不包含他人享有著作权的内容。对本论文所涉及的研究工作做出贡献的其他个人和集体，均已在文中以明确的方式标明。本学位论文的知识产权归属于培养单位。 本人签名： 日期： 摘 要 目前，发达国家的资信评级体系较我国先进 很多，特别是欧美等国。而我国的信用评级体系存在诸如信用评级意识 淡薄 、 评级制度不健全、评级市场供需失衡存在恶性竞争、业务范围狭窄、 缺乏科学的信用评级指标和方法 、 缺乏专业的评级数据库、 专业人员专业性不强 等 环境、制度、市场、技术、规模方面的 问题。因此，我国 的资信评级机构 应借鉴欧美 等 发达国家 资信评级业的 经验 ： 增强社会信用评级意识 、加快资信评级业数据库的建设、扩大信用评级业务范围、建立一套科学的评级指标体系、加大评估模型的使用效率、尽快建立中小企业资信评级体系、加强评级机构内部管理制度的建设、注重培养专业性人才、整合 我国信用评级机构、建立有效的信用监管体制等经验 。本文主要叙述了发达国家的资信评级业的发展概况及其指标体系，在此基础上，介绍了发达国家的资信评级体系。与此同时，叙述了我国资信评级业的现状，指出了我国资信评级业出现的不足。最后， 借鉴 发达国家的信用评级的丰富经验 对我国的资信评级业提出一些建议，以期望我国资信评级业能够蓬勃发展，蒸蒸日上。 关键词： 发达国家 ； 资信评级 ； 启示 ABSTRACT Currently, the credit rating system in developed countries pared to China39。s more advanced, especially Europe and the United States and other countries. China39。s credit rating system weak consciousness, such as credit rating, the rating system is not perfect, the rating market supply and demand imbalances exist vicious petition, narrow scope of business, the lack of scientific credit rating indicators and methods, the lack of professional rating database professionals professional strong environmental, system, market, technology, the scale of the problem. Thus, China39。s credit rating agencies should learn from the experience of Europe and the United States and other developed countries, the credit rating industry: to enhance social awareness of credit rating, speed up the construction of the database of the credit rating industry, to expand the scope of the credit rating business, and establish a scientific evaluation index system, to increase efficiency in the use of the assessment model, as soon as possible the establishment of SME credit rating system, strengthen the construction of the internal management system of rating agencies to focus on training professional personnel, integration of China39。s credit rating agencies, the establishment of an effective credit control system experience. This paper describes the overview of the development of the credit rating industry in developed countries and the index system, and on this basis, developed countries of the credit rating system. At the same time, describes the status of the credit rating industry in China, pointed out that the shortfall of the credit rating industry in China. Finally, the extensive experience of borrowing from the credit rating on China39。s credit rating industry to make some suggestions to the expectations of the credit rating industry can flourish, flourishing. Key words: credit rating； developed countries； revelation 目 录 第 1 章 绪论 研究背景 „„„„„„„„„„„„„„„„„„„„„„„„„ 1 资信评级的研究现状 „„„„„„„„„„„„„„„„„ „„„ 1 本课题的研究内容 和意义 „„„„„„„„„„„„„„„„„„ 2 第 2 章 信用评级的内涵 信用评级的含义及特点 „„„„„„„ „„„„„„„„„„„„ 3 信用评级的作用 „„„„„„„„„„„„„„„„„„ „„„„„ 3 第 3 章 发达国家信用评级业背景及其发展概况 美国信用评级业发展概况 „„„„„ „„„„„„„„„„„„„„ 5 历史背景 „„„„„ „„„„„„„„„„„„„„ „„„ 5 美国信用评级机构介绍 „„„„„ „„„„„„„„„„ 6 发展模式 „„„„„ „„„„„„„„„„„„„„ „„„ 6 业务范围 „„„„„ „„„„„„„„„„„„„„ „„„ 7 收费方式 „„„„„ „„„„„„„„„„„„„„ „„„ 7 监管 模式 „„„„„ „„„„„„„„„„„„„„ „„„ 8 欧盟各国信用业评级发展概况 „„„„„„„„„„„„„„ „„ 8 日本信用评级业发展概况 „„„„„„„„„„„„„„„„„„ 9 第 4 章 发达国家信用评级的指标体系 发达国家信用评级的指标体系的选择方法 „„„„„ „„„„ „ 10 发达国家信用评级的指标体系介绍 „„„„„„„„„„„„„ 11 穆迪信用评级指标体系 „„„„„ „„„„„„„„„„„ 11 标普信用评级指标体系 „„„„„ „„„ „„„„„„„ „ 12 发达国家对信用指标的分析技术 „„„„„„„„„„„„„„ 12 第 5 章 发达国家的信用评级体系 发达国家信用评级的分析思路及流程框架 „„„„„„„„„ 14 发达国家的长期债券的信用评级体系 „„„„„„„„„„„ 15 穆迪公司的长期债券评级 „„„„„ „„„„„„„„„ 15 标准普尔 公司的长期债券评级 „„„„„ „„„„„„„ 15 第 6 章 我国信用评级业的发展现状 发展 历史 及 背景 „„„„„ „„„„„„„„„„ „„„„ 17 我 国信用评级机构介绍 „„„„„ „„„„„„„„„„ „ 17 业务范围 „„„„„ „„„„„„„„„„„„„„ „„„„ 18 评级技术和方法 „„„„„ „„„„„„„„„„„„„„ 19 收费方式 „„„„„ „„„„„„„„„„„„„„ „„„„ 20 发展模式 „„„„„ „„„„„„„„„„„„„„ „„„„ 20 法律及其监管 „„„„„ „„„„„„„„„„„„„„ „„ 20 第 7 章 我国信用评级业存在的的主要问题 环境因素 „„„„„ „„„„„„„„„„„„„„ „„„„ 22 制度因素 „„„„„ „„„„„„„„„„ „„„„„„„„ 22 市场因素 „„„„„ „„„„„„„„„„„„„„ „„„„ 23 技术因素 „„„„„ „„„„„„„„„„„„„„ „„„„ 23 规模因素 „„„„„ „„„„„„„„„„„„„„ „„„„ 23 第 8 章 发达国家信用评级体系对我国信用评级业的启示 结论 „„„„„„„„„„„„„„„„„„„„„„„„„„„„„„ 29 参考文献 ……………………………………………………………………… 30 致谢 ……………………………………………………………………………… 32 1 第 1 章 绪论 研究背景 进入 21世纪以后，伴随着经济全球化、一体化和自由化的高速发展，信用评级业务量和业务品种不断增加，信用评级机构在金融业中扮演的角色越来越重要。但是， 我国资信评级业经过 20多年的起步发展仍然没有形成一套科学的发展模式 ，发展过程中不可避免 出现 一些问题 尚未 解决 。特别是 全球 金融危机 、欧洲债务危机后，以美国标普、穆迪惠誉为代表的信用评级机构 权责失衡、缺乏透明度、深度介入利益冲突等滞后与不足暴露。 因此 ， 我们 需要 重新观察和审视信用评级行业中存在的 种种 问题 。 我国信用评级行业 尚 处于发展 中。 随着 我国加入 WTO 后 ,国内外企业竞争加剧，信用评级显得尤为重要。 因此 ， 为了 适应全球经济一体化的发展要求， 我国需要建立科学的 、国际化的 信用评级 体系 ,保障我国信用评级行业的健康发展 。 资信评级的研究现状 目前 有关资信评级的 研究现状 分为以下几个方面： 一类是从整体上介绍发达国家 或 我国的 有关 资信评级情况。 有些是介绍发达国家资信评级概况， 如张向东的《发达国家信用 评级制度》 、王红娜等的《论我国信用评级建设》；有些是介绍我国的资信评估的概况、面临问题及发展建议，如崔立新等的《 我国资信评估业 面临的问题》；还有些是对比中外资信评估 业 的情况并提出问题及 发展 建议， 如马玉超等《发达国家信用评级制度借鉴》、庞建敏《国内外资信评级的分析与思考》。 以上 都