专利证券化风险评价与防范

发布时间：2018-05-26 20:33

本文选题：专利证券化 + 模糊评价　；参考：《湘潭大学》2015年硕士论文

【摘要】：专利证券化具有同传统资产证券化相同的风险,控制和防范风险是证券化面临的共同问题。识别、分析专利证券化所存在的风险因素,评价和衡量专利证券化风险指标的大小,对重点风险进行防范和控制,这对专利证券化能否成功至关重要。专利证券化过程中,既有内部风险又有外部风险。内部风险包括专利基础资产的价值评估、价值波动、价值实现的风险和专利权利瑕疵、归属以及诉讼的风险。外部风险包括利率风险、经济前景风险以及影响专利交易的法律风险和政策风险。专利证券化风险因素多种多样且模糊不确定,采用模糊综合评价正是基于被评价因素的模糊性和不确定性。专利证券化评价指标重点考虑专利基础资产风险、交易结构风险和宏观经济法律风险三类指标。评价指标权重的确定采用层次分析法,通过对各项指标进行两两的反复比较,得出各项指标的权重。通过设计具体证券化案例进行示意性的风险评价,采用专家打分的方式,得出模糊结果,来验证指标是否可行以及模型运用的效果。检验结果表明指标的权重基本可以适用。从评价的结果来看,专利基础资产风险的评价对整个专利证券化风险的评价结果起到了决定性的作用。除了要考虑相关法律、政策和经济等外部风险因素外,专利证券化风险防范和控制的重点在于:一是构建专利资产池中的风险防范和控制;二是完善信用增级和评级制度;三是完善专利证券化信息披露制度。
[Abstract]:Patent securitization has the same risks as traditional asset securitization. Identifying and analyzing the risk factors of patent securitization, evaluating and measuring the risk index of patent securitization, preventing and controlling the key risks are very important to the success of patent securitization. In the process of patent securitization, there are both internal and external risks. The internal risk includes the value evaluation, the fluctuation of value, the risk of value realization, the defect of patent right, the ownership and the risk of litigation. External risks include interest rate risk, economic outlook risk, legal risk and policy risk affecting patent transaction. The risk factors of patent securitization are various and fuzzy. The fuzzy comprehensive evaluation is based on the fuzziness and uncertainty of the evaluated factors. The evaluation index of patent securitization focuses on three kinds of indexes: the risk of patent basic assets, the risk of transaction structure and the risk of macroeconomic law. Analytic hierarchy process (AHP) is used to determine the weight of the evaluation index, and the weight of each index is obtained through the repeated comparison of each index. By designing a specific securitization case to carry on the schematic risk evaluation and adopting the method of expert scoring, the fuzzy result is obtained to verify the feasibility of the index and the effect of the model application. The test results show that the weight of the index is basically applicable. Judging from the evaluation results, the evaluation of the risk of patent basic assets plays a decisive role in the evaluation of the risk of patent securitization. Besides considering external risk factors such as law, policy and economy, the risk prevention and control of patent securitization lies in the following aspects: one is to construct the risk prevention and control in patent asset pool, the other is to perfect credit grading and rating system. Third, perfect the information disclosure system of patent securitization.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D923.42

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