着眼于消除大额应收账款给企业带来的负面影响,以发电项目融资为例,结合期权思想,提出了一种以购买协议为基础的融资模式。购买协议中购买期权的敲定价格和权费的设定是该融资模式的关键,利用均衡分析法对其进行了论证。算例分析表明,该融资模式的融资效用突出,对于交易双方都具有多重功效。
In order to eliminate large receivable accounts' negative impacts to enterprises ,this paper took power generation project for example, integrated option theory to design a financing model based on purchase agreement. The settings of strike price and premium of purchase options in purchase agreement are the keys in the financing mode, and we principally used a balanced analysis to demonstrate their settings. The example analysis indicated that the financing mode is of great financing effectiveness, and also can bring multiple other benefits for both borrower and lender.