留学生Thesis问题的论点和陈述怎么写？ 本文是小编节选的一篇Thesis And Statement Of The Problem问题的论点和陈述范文，主要内容是阐述研究论文的组成组成部分，本文是一篇金融信用风险管理方面的Thesis，读者可以通过以下内容，充分的体会到作者从Thesis写作之初，以及在数据管理方面遇到的问题，逐渐确定研究对象和问题的过程，对于正在面临Thesis写作的同学们来说是值得参考的，下面就一起来看以下：
留学生Thesis
Introduction: 简介
本论文由信用风险与证券化部分的一系列研究论文组成。尽管如此，如果他们在关注点和能力上有所不同，他们仍然具有我在撰写论文时所设计的普遍性，这在现实世界中很重要，对我的信用风险和证券化论文有帮助和相关的参与。这些贡献要么是参与战略讨论，要么是对持续辩论的新观点和新角度，要么是在研究的帮助下接受实践，要么是干净地开发新模型。
This thesis consists of a collection of self-contained research papers within the part of credit risk and securitization. Still if they differ in focus and faculty, they have in universal that I have designed at writing thesis which has important in real-world with a helpful and relevant participation in my thesis of credit risk and securitization. These contributions are either participation to strategy discussions, new opinions and new angles to a continuing debate, accepted practices with the help of study or cleanly development of fresh models.
本文的研究对那些真正面临信用风险、没有信用风险控制模式的企业有一定的借鉴意义。在论文写作之初，我在数据管理方面遇到了很多问题，但随着时间的推移，研究活动提供了大量关于信用风险和证券化的知识。本文对我今后的工作有一定的帮助，对金融机构也有一定的借鉴意义。我在想，基于对这个话题的研究，这对我在这些好组织的工作是有帮助的。我能在这份工作上有更好的表现，因为这是我最喜欢的领域，而且我是这方面的专家。
My thesis will be helpful for those companies which really face credit risk and do not have any model to control it. In the beginning of the writing thesis I faced a lot of problems in managing of data, but with the passage of time activities of research provided great knowledge about credit risk and securitization. This thesis will be helpful for me in future time, and it has a great importance for financial organizations. I was thinking, on basis of research on this topic, it is helpful for my job in these good organizations. I can give better performance on this job because it is my favorite area and I am specialist in it.
我认为金融机构面临的风险主要分为以下几类：
I view the risks faced by financial organizations as falling mainly into the following maximum collections:
Market risk-the risk of sudden changes in prices or rates. 市场风险价格或利率突然变化的风险。
Credit risk-the risk of changes in value related with sudden changes in credit quality. 信贷风险与信贷质量突然变化有关的价值变化风险。
Liquidity risk-the risk that the costs of adjusting financial positions will boost significantly or that a firm will lose access to financing. 流动性风险调整财务状况的成本将显著提高或公司将失去融资渠道的风险。
Operational risk-the risk of fraud, systems failures, trading errors, and many other inside managerial risks. 操作风险欺诈、系统故障、交易错误和许多其他内部管理风险。
Systemic risk-the risk of stop working in open market or series of result default. 系统性风险是指在公开市场中停止工作或出现一系列结果违约的风险。
Definitions of Credit risk 信用风险的定义
信用风险是指交易对手不能履行固定义务的可能性，包括交易对手的信用风险降低的可能性，从而影响金融机构的收益和资金支持。信用风险是非常重要的，因为它涉及到信贷部门，信贷部门是金融机构最重要的业务部门，信贷既是金融机构的资产，又是金融机构的或有负债。
Credit risk is a possibility that counterparty cannot perform the fixed obligation, including a possibility that the counterparty’s credit risk will be reduced, which affect earnings and capital may support of financial organizations. Credit risk is very important as it involve credit department, which is a most important operation of financial organizations, both credits that are assets and contingent liabilities of the financial organizations.
信用风险是指由于交易对手违约而导致的损失风险，通常是指适用于某些“信用事件”的损失风险。传统上，这适用于债券持有人担心对方的贷款可能无法支付的付款（利息或原始金额）。
Credit risk is the risk of loss due to a counterparty defaulting on contract, or furthers normally the risk of loss suitable to some “credit event”. By tradition this applied to bonds where debt holders were worried that the counterparty to whom they’ve made a loan might fail to pay on a payment (interest or original amount).
信用风险源于债务人不愿意履行承诺或者履行承诺的能力受到损害，给银行造成财务损失的可能性。
Credit risk start from the possible that an obligor is either unwilling to achieve on a commitment or its capability to achieve such obligation is damaged resulting in financial loss to the bank.
信用风险是指债务人为满足与组织进行的任何交易的条件或债务人未能按合同规定履行义务而发生的对收益和资本的最新或未来风险。信贷风险的最大来源是贷款。然而，信用风险同样存在于资产负债表内外各组织的额外活动中。
Credit risk is the up to date or future risk to earnings and capital happening from an obligor’s breakdown to meet up the conditions of any deal with the organizations or if an obligor otherwise not succeed to perform as contracted. The biggest source of credit risk is loans. However, credit risk exists all over the additional activities of the organizations equally on and off the balance sheet.
简言之，所有信用风险的定义都提供了相同的结论，即如果信用风险大于检验风险，那么组织将在资产负债表中遭受财务损失。
In short, all the credit risk’s definitions provide same level of conclusion that if credit risk is greater than inspective so organizations will be suffering financial loss in balance sheet.
Credit Risk:信用风险：
金融机构和金融家面临几种类型的风险。主要风险之一是信用风险。近十年来，信用风险一直是金融机构存在的一个重要问题。信用风险是近年来金融研究中最活跃的领域之一。信用风险由违约风险和利差风险两部分组成。违约风险定义为不遵守交易的确切安排，利差风险定义为由于债务人/交易对手的信贷质量变化导致交易/工具的市场价值下降。信用风险模型之所以被认为是有价值的，是因为它们给了决策者一种在路上的判断或意识，而这种判断或意识在其他情况下是不愉快的，或者可能以太昂贵的成本进行处理。
Financial organizations and financiers face several types of risk. One of the major risks is credit risk. Over the past decade, credit risk was a most important problem existing in the financial organizations. Credit risk has been one of the most active areas of recent financial research. Credit risk consists of two components: default risk and spread risk. Default risk defines as any non-compliance with the exact arrangement of a deal and spread risk defines as decline in market value of the deal/ tool due to change in the credit quality of the debtor/ counterparty. Credit Risk Models have assumed valuable because they give the judgment creator with on the way or awareness that would not otherwise be with pleasure available or that could be marshaled at too expensive cost.
在商业中，几乎所有的组织都有一定的信用风险，因为大多数组织并不要求为所有交付的产品和提供的服务预先支付现金。相反，大多数组织分发产品或服务，然后向客户开账单，通常指定30天的净付款，其中付款应在分发后的第30天完成。在这段时间内承担信用风险。在一个利润率迅速下降、对降低价格的要求难以满足的市场中，模型为客户提供了竞争优势。信用风险模型旨在帮助银行衡量、汇总和管理环境和产品线的风险。这些模型的结果在银行的风险管理和结果计量方法、客户盈利能力分析、基于风险的定价、主动收款管理和资本补充决策等方面也发挥着越来越重要的作用。
In business, almost all organizations carry some credit risk, because most organizations do not demand up-front cash payment for all products delivered and services rendered. Instead, most organizations distribute the product or service, and then bill the customer, often specifying net 30 days payment, in which payment is supposed to be complete on the 30th day after distribute. Credit risk is carried for the period of that time. In a market where margins are fast failing and the demands to lower pricing are implacable, models give their clients a competitive edge. The credit risk models are planned to aid banks in measuring, aggregating and managing risk across environmental and product lines. The results of these models also play more and more significant roles in banks’ risk administration and outcome measurement methods, client profitability analysis, risk-based pricing, active collection management and capital makeup decisions.
信用风险模型可以改善内部风险管理，并有可能用于金融机构的决策监督。信用风险分析（财务风险分析、贷款违约风险分析）和信用风险管理是为企业和个人提供信贷服务的金融机构所必需的。信用的产生有不同的原因：购买汽车为银行抵押贷款（或房屋贷款）、信用卡购买、分期付款购买等提供资金。 信用贷款和金融有被拖欠的风险。为了了解信贷使用者的风险水平，信贷贡献者通常会收集大量关于借款人的信息。统计预测分析技术可用于分析或确定信贷、财务和贷款所涉及的风险水平，即违约风险水平(内部）信用评分是信用贷款的数字评级。它衡量违约的风险水平。违约风险水平可以通过分析模型进行最佳预测。信用评分可以用违约概率或比较几何评级来衡量。
Credit risk modeling may outcome in improved internal risk management and may have the possible to be used in the decision-making oversight of financial organizations. Credit risk analysis (finance risk analysis, loan default risk analysis) and credit risk management is essential to financial organizations which give credit to businesses and inpiduals. Credit can arise for different reasons: motor vehicle purchase finances bank mortgages (or home loans), credit card purchases, installment purchases, and so on.
信用风险模型可以改善内部风险管理，并有可能用于金融机构的决策监督。信用风险分析（财务风险分析、贷款违约风险分析）和信用风险管理是为企业和个人提供信贷服务的金融机构所必需的。信用的产生有不同的原因：购买汽车为银行抵押贷款（或房屋贷款）、信用卡购买、分期付款购买等提供资金。
Credit loans and finances have risk of being defaulted. To understand risk levels of credit users, credit contributors normally collect huge amount of information on borrowers. Statistical predictive analytic techniques can be used to analyze or to determine risk levels involved in credits, finances, and loans, i.e., default risk levels. (Internal) credit score is a numerical rating of credit loans. It measures the level of risk of being defaulted. The level of default risk can be best predicted with analytical modeling. Credit scores can be measured in term of default probability or comparative geometric ratings.
管理信用风险对任何组织都是有价值的，重要的资源是有许多客户的大型金融组织忠实于这项任务的。对于大型金融机构，甚至可能有一个信用风险部门，其职责是评估客户的财务状况，并相应地扩大（或不扩大）信贷。例如，向有关供应商销售其产品的分销商可能会通过将付款条件减至“净15天”，或实际向供应商赊销较少的产品，甚至完全切断信贷，以及难以提前付款，来挑战将信贷风险降至最低。这些政策可能会影响经销商的潜在销售，并与供应商建立良好的关系，但如果供应商延迟支付账单，或者，特别是如果供应商未能支付账单并公开宣布破产，经销商最终会过得更好。
Managing credit risk is valuable for any organizations, and important resources are faithful to the task by large financial organizations with many customers. For large financial organizations, there may even be a credit risk department whose job it is to assess the financial health of their customers, and expand credit (or not) accordingly. For example, a distributor selling its products to a concerned vendor may challenge to minimize credit risk by reduction payment terms to “net 15 days”, or by actually selling less product on credit to the vendor, or even cutting off credit totally, and difficult payment in advance. These policies will possibly impact the distributor’s would-be sales, and basis smooth relationship with the vendor, but the distributor will end up better off if the vendor is delayed paying its bills, or, especially, if it failure to pay and say publicly bankruptcy.
Definitions of Securitization 证券化的定义
Securitization a process whereby any Special Purpose Vehicle raises finances by issue of Term Finance Certificates or any other tools with the authorization of the relative authority of the country, for example, Pakistan commission (SECP) is authorization of the process for such purpose and uses such finances by making payment to the Originator and through such process obtains the title, property or right in the receivables or other assets in the form of actionable claims.
There are lots of ways to explain securitization but in core, it is the financing or re-financing of earnings yielding assets by packaging them into a trade able form through an issue of government securities or further securities.
There are three major kinds of securitization: true sale, synthetic and “whole business” (the final largely used in the England and, to a smaller size, continental Europe). In a true sale securitization, a organization sells assets to a special purpose vehicle which finances the purchase by issuing government securities to the capital markets. In a synthetic securitization, the organization does not sell any assets, but removes the risk of loss linked with certain of its assets to a Special purpose vehicle or a bank organization against payment by such of a premium or fee to the Special purpose vehicle. “Whole business” securitization is basically a secured loan granted by a Special purpose vehicle to the relevant organization. To contribution the loan, the Special purpose vehicle uses profits of government securities issued into the capital markets whereby the organization grants security over most of its assets in favor of the government securities holders.
Since it is important for the whole work out to be a case of transfer of receivables by the originator, not a borrowing on the security of the receivables, there is a legal transfer of the receivables to a separate entity. In legal parlance, transfer of receivables is called assignment of receivables.
It is also necessary to ensure that the transfer of receivables is respected by the legal system as a genuine transfer, and not as mere eyewash where the reality is only a mode of borrowing. In other words, the transfer of receivables has to be a true sale of the receivables, and not merely a financing against the security of the receivables.
Securitization:证券化：
Securitization is the procedure of financing the cost of originating or carrying economic assets. Those economic assets include responsibilities of clients originated by financial organizations or such as mortgage loans credit card receivables, student loans and student loans, trade receivables, and corporate bonds and loans. Financing arises during the issuance of asset-backed securities. In an asset-backed securities securitization, financial assets which are naturally illiquid, but exchange into cash in accordance with their conditions within a definite time. Financial assets are pooled and converted into asset-backed securities (which are then typically offered and sold in the capital markets). Mortgage backed securitizations and asset backed securitizations, or more usually, the securitization of economic assets, securitization is a form of structured finance firstly developed in the early 1970’s in mortgage backed securitization format. It full-grown in the late 1970’s in both mortgage backed securitizations and asset-backed securitizations formats. In current years, it has reach to Europe, Latin America and Southeast Asia (mainly Japan, India). In Pakistan market of securitization growing in recent year because international body of securitization improved the regulations according to Islamic structure for Muslim countries and these regulations match with international securitization transaction.
Pakistan play lead role in Islamic securitization all over the Muslim countries. The local controllers have usually encouraged searching and introducing multiple asset-backed financing formations at large. While the whole banking and non-banking financial areas are now facing troubling due to worldwide financial disorder, pointed increase can be seen on the heel of Islamic securitization during contribution by private and commercial sectors.
In its simplest form a Securitization require (1) the sale of a huge pool of Receivables by an person (Originator) that makes such Receivable in the line of its business to a “bankruptcy-remote,” special purpose entity in a way that meet the requirements as a “true sale” and is planned to reach definite results for accounting purposes, as well as caring the Receivables from the claims of creditors of the person (Originator), and (2) the issuance and sale by the special purpose entity, in either a private assignment or public offering, of obligation securities that are afterward fulfilled from the proceeds of and protected by the Receivables. When the Securitization is “stopped up,” finances run from the buyers of the Securities to the Issuer and from the Issuer to the inventor (Originator).
Statement of the problem 问题陈述
This research aim is to take action and analyze the following questions and interviews have been performing from the companies’ officer to receive information accordingly.
What is method for control the credit risk in organizations?
The purpose of Securitization in the Corporate Sector?
The features of Securities to make its attractiveness?
Why the investors are interested to invest in Asset-Backed Securities?
Why Islamic securitization important in Muslim world?
Does securitization reduce credit risk for the financial organizations?
How the Asset-backed Securities have minimized credit risk for the financial organizations?
To understand the role of banks and credit rating agencies in the Securitization.
Determine the working of factoring for reduce the credit risk and define the benefit of factoring?
What are the future prospects of Asset Backed Securitization in Pakistan and all over world?
Define securitization costs and expense?
How credit scoring inpidual customer?
How can minimize credit risk through securitization?
What is the method of managing the credit risk and how to improve credit risk management?
importance of the study 研究的重要性
The information technology and artificial results have been powerful the businesses of the worldwide economies. To deal with the different risks linked with the businesses, the businessmen have to come up with modern solutions and separate credit risk department and securitizations are one of them. All over the world companies face different type of risk in businesses including marketing risk, operational risk and credit risk. To deal with these risks and improved the financial position of the organization and increase the annual profit of the share holders (owners), they have to pick the positive modern solutions. If mangers of the organizations want to minimize the credit risk so securitization is one of the techniques picked by the organization. In the way, organizations achieved target profits and financial position without any loss of the operating, financial and market of the organization. Study of the credit risk and securitization is allows development new models and techniques in the capital market which ultimately create new and more investment chance in the capital market which provide large number of profit to the financial organizations.
Study of the credit risk shows, at liberty Asia appeasing Credit Risk Management: 2006-2011 spend estimate and Analysis, local investments in credit risk functions for three purposeful systems, defaults chance judgment, credit collection management systems, and worldwide limits management systems are estimated to compound at a collection percentage of 16.6 per cent annually to US$1.74 billion by 2011.
If organizations want to reduce credit risk so growth for successful performance of credit risk, financial organizations need to improve their IT functions for information collection and the interior rating process, categorize proper greatest practices and building ability.
Study of credit risk and securitization have very important for any organizations because credit risk accounting for at least two-thirds of their on the whole risk, the financial organizations have the leading holder for credit risk functions. According to research of credit risk controller that if organizations want to reduce credit risk so buildup credit risk departments in the organizations for control the credit risk independence and working of credit risk department that manage the securitization procedures and improved the internal rating process and fairing collection the data about customer and country political issue. Political issue plays a lead role for unsystematic credit risk.
In addition, these studies evaluate the opportunity where this idea of securitization can be effectively applied. The study not only points the current companies who have already accepted the securitization but also useful for the potential companies.
Delimitation of the study 研究范围
This research was performed within the following limitations:
Only financial organizations in the first market level of the Lahore and Karachi Stock Exchange was included in this research. Joint finances were also excluded.
All the steps involved in this research process were completed within a two month period (December to February 2010-2011). This place a limit on the overall level of the study.
The Lahore and Karachi Stock Exchange is relatively new in the field of credit risk and securitization. This impacts the amount of information available for me.
留学生thesis delimitation of the study部分里提到这项研究是在以下限制条件下进行的：
本研究仅包括拉合尔和卡拉奇证券交易所一级市场的金融机构。联合融资也被排除在外。
本研究过程中涉及的所有步骤均在两个月内完成。这就限制了研究的整体水平。
拉合尔和卡拉奇证券交易所在信用风险和证券化领域相对较新。这会影响我可用的信息量。
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