شناسایی، طبقه‌بندی و اولویت‌بندی ریسک‌های اوراق گام (گواهی اعتبار مولد) با رویکرد مدل‌سازی چند معیاره فازی
شناسایی، طبقه‌بندی و اولویت‌بندی ریسک‌های اوراق گام (گواهی اعتبار مولد) با رویکرد مدل‌سازی چند معیاره فازی
الموضوعات :
محمدرضا حاضری یزدی
1
,
حسین شیرمردی احمدآباد
2
1 - مرکز برنامه و بودجه و مالی اسلامی/دانشکده مدیریت و برنامه ریزی راهبردی/دانشگاه جامع امام حسین/تهران/ایران
2 - مرکز برنامه و بودجه و مالی اسلامی/دانشکده مدیریت و برنامه ریزی راهبردی/دانشگاه جامع امام حسین/تهران/ایران
الکلمات المفتاحية: تأمین مالی, صکوک, اوراق گام, اوراق گواهی اعتبار مولد, تامین مالی زنجیره ارزش,
ملخص المقالة :
گواهی اعتبار مولد (گام) یکی از نوآوری‌های جدید نظام پولی و مالی کشور جهت تأمین مالی واحدهای تولیدی محسوب می‌شود که می‌تواند دسترسی واحدهای تولیدی به سرمایه در گردش را ارتقا بخشد، و باعث توسعه و رونق تولید این واحدها شود. این اوراق با بهره‌مندی از ظرفیت بخش خصوصی کشور که در قالب زنجیره‌های تأمین تولید قرار دارند و با برخورداری از ضمانت بانک‌ها و مؤسسات اعتباری، زمینه تأمین منابع موردنیاز سرمایه در گردش را فراهم خواهد کرد. در این مقاله ابتدا بر اساس روش تحلیلی-توصیفی و با استفاده از منابع کتابخانه‌ای ریسک‌های اوراق گام برای هر یک از ارکان درگیر در ساختار این اوراق شناسایی و در قالب دو طبقه کلی بازار اولیه و بازار ثانویه تقسیم شده اند و سپس با روش FUZZY TOPSIS به اولویت‌بندی ریسک‌های شناسایی شده پرداخته شد.یافته‌های تحقیق نشان می‌دهد که از میان انواع مختلف ریسک، در بازار اولیه ریسک اعتبارسنجی متعهد توسط بانک ، و در بازار ثانویه، ریسک تورم، ریسک نوسانات نرخ ارز و ریسک نرخ بهره به ترتیب ریسک‌های مهم اوراق گام هستند.
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