不确定环境下的项目融资租赁租金计量模型研究——基于出租人视角

项目融资租赁租金的确定是以项目本身的资产和未来的收益为依托,涉及项目成本、收益、利率等多个参算因子。但在不确定环境下,参算因子的取值往往会发生较大变动,这大大增加了租金确定的难度,从而影响出租人对收益的保障。本文首先对不确定环境下影响项目融资租赁租金计量的主要因素进行敏感性分析,以判断对租金计量具有重要影响的因素。在此基础上构建了不确定环境下的项目融资租赁租金计量模型,将参算因子取值的不确定性嵌入到模型中,使其计算结果能更大程度地保障出租人收益。最后结合实际案例,验证了不确定环境下模型的有效性。

Research on Rental Model of Project Finance Lease under Uncertainty——Based on the Perspective of Lessor

The rental of project finance lease is supported by the assets and future earnings of the project itself,involving project's cost,income,interest rates and other factors that may change in a longer lease term under uncertain environment,which greatly increased the difficulty in determining an accurate rental,thus affecting the lessor's income.In responses to it,this paper built a rental quantitative model of project financing lease under uncertain environment based on sensitivity analysis of the main factors that affect the measurement of project financing lease.This model considered the uncertainty of influential factors to guarantee the benefit of lessor to a greater extent.Finally,with a practical example,the validity of optimized rental model of project finance lease has been verified.