The Risk and Pricing of Trade Receivables Securitization
分析了贸易应收账款证券化过程中的重要风险，并构建了定价模型以确定最合适的定价，对企业融资和资本市场规范有参考价值。
As a kind of structured financing mode,trade accounts receivables securitization can extend the fundraising ways for enterprises and improve financial situation.Meanwhile,it can regulate capital market. Based on the characteristics and operation mechanics of trade accounts receivable backed securitization,the paper analyzes the important risks that may occur during the progress of receivables securitization.Furthermore,a pricing model can be constructed in order to discover the most suitable pricing of receivables securitization.