摘要
融资性票据为中小企业融资困境的解决提供了新的思路,在大众创业、万众创新的背景下,推动融资性票据的合法化已是大势所趋。从比较法的视野来看,融资性商业承兑汇票和融资性商业本票作为大型企业的重要融资工具,其发展需要以成熟的商业信用和便利的票据流通为基础。目前,我国商业信用发展不足、票据流通性有限、中小企业融资需求较大,因而发展融资性银行承兑汇票是我国现阶段的最佳选择。同时,由于发展融资性银行承兑汇票可能带来信用风险和票据空转风险,融资性票据的合法化应当以全流程的票据监管制度为基础,并辅之以完善的信息披露制度、票据信用评级制度以及差异化的贴现利率和承兑费率,从而降低票据违约风险、消除套利空间。
Financing bills provide new ideas for solving the financing difficulties of small and medium-sized enterprises.Under the background of mass entrepreneurship and innovation,it is the general trend to promote the legalization of financing bills.From the perspective of comparative law,commercial paper and financing commercial promissory notes are important financing tools for large enterprises,and their development needs to be based on mature business credit and convenient bill circulation.At present,the development of business credit in China is insufficient,the circulation of bills is limited,and the financing needs of small and medium-sized enterprises are relatively large.Therefore,financing bank acceptance bills is the best choice for China at this stage.At the same time,as the development of financing bank acceptance bills may bring credit risk and bill idling risk,the legalization of financing bills should be based on the whole process of bill supervision system,supplemented by information disclosure system and bill credit rating system.And differentiated discount rates and acceptance rates,thereby reducing the risk of default and eliminating arbitrage.
作者
李维维
Li Weiwei(School of Law,Zhongnan University of Economics and Law,Wuhan 430073,China)
出处
《中南财经政法大学研究生学报》
2019年第2期149-156,共8页
Journal of the Postgraduate of Zhongnan University of Economics and Law
基金
2018年中南财经政法大学研究生创新教育计划:融资性票据合法化路径探析(项目编号:201810638)。本文系部分研究成果
