论文题目：荷兰市场营销硕士毕业论文：Literature Review部分
论文语言：英语论文 English
论文专业：市场
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学校国家：荷兰
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论文用于：Master Dissertation 硕士毕业论文
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荷兰市场营销硕士毕业论文：Literature Review部分
Chapter 2 Literature Review
2.1 Introduction
The Chapter 1 introduced the background information about this study. The http://www.szdhsjt.com/gjsc/ problem definition and research purpose were mentioned. The information about company，DaTong was presented. The Chapter 2 will research the machinery lease industry, then explore machinery lease market and give an analysis of customer. Finally, group strategy will be presented.
1章介绍了本研究的背景信息。问题的定义和研究目的进行。关于公司的信息，大同市提出了。2章将研究的机械租赁行业，然后探讨机械租赁市场，给客户分析。最后，集团将战略。
2.2 Types of Machinery Leasing
Contemporary leasing has increased greatly since the world war two. Expensive equipments such as aircrafts, ships, and construction equipments are the main constitution of contemporary leasing.
From the point view of lessee, contemporary leasing can be divided into financial leasing and operating leasing.
According to the process of leasing, it can be figured as direct lease, sublease and leaseback.
According to the number of lessors, it can be divided into single-investor leasing and leveraged leasing.
2.2种类型的机械租赁
现代租赁二战以来大大增加。如飞机，船舶和昂贵的设备，施工设备是现代租赁的主要构成。
从承租人的角度来看，现代租赁分为融资租赁和经营租赁。
根据租赁的过程，它可以表示为直接租赁，转租回租。
根据出租人的数目，它可以分为单一投资者租赁和杠杆租赁。
2.2.1 Financial Lease
A financial lease is a type of lease and it is a commercial arrangement where: the lessee will select the equipment, vehicle, or software; the lessor will purchase that equipment; the lessee will have use of that equipment during the lease; the lessee will pay a series of installments for that equipment; the lessor will recover a large part or all of the cost of the asset plus earn interest from the rentals paid by the lessee; the lessee has the option to acquire ownership of the asset. In the process of lease, the finance company is the legal owner of the equipment during duration of the lease. However, the lessee has controlled over the equipment providing them the benefits and risks of ownership.
Contemporary machinery aims to finance and that is the nature. Financial lease is the most typical form of equipment leasing. When enterprises need lots of money to buy certain equipment, the suitable way is to choose financial leasing in order to improve the financial condition.
2.2.1.1 The Feathers of Financial Lease
1. Supplier of equipment must be chosen by the lessee.
2. There are at least three organizations and two contracts to be signed.
3. The time of leasing is often long and the rent is paid off totally.
4. Once a contract is signed, absolutely it can not be cancelled.
2.2.2 Operating Lease
Operating lease is a lease whose term is short compared to the useful life of equipment being leased. An operating lease is commonly used to acquire equipment on a relatively short-term basis. The lessor has the responsibility of repairing rental machinery. This type of leasing is also called service leasing.
In the past, most of airplanes are bought in cash or bank loan. However, since 1980’s, operating leasing has been more and more popular. Leasing company lease airplanes to airline, and after the contract is over, airline gives the airplanes to leasing company. In 1990’s operating leasing account for 22% in airplane market, but now it has grown to 40%. In Asia, Africa and Middle East, the airplanes that are bought through banking system are approximate 120 billion dollars. Obviously, operating leasing will have a great potential in this market.
As for China, now China owns 850 airplanes and with China’s economy increase, lots of airplanes need to meet the strong market demand. In 2012, there are 25% of airplanes which belong to operating leasing. However, overall leasing companies are almost controlled Chinese airplane leasing market, behind the strong market demand.
2.2.2.1 The Feathers of Operating Leasing
1. The time of operating leasing is not long.
2. The contract can be cancelled at anytime.
3. The rent is not paid off at one time.
4. The rent is often expensive.
2.2.2.2 Differences Between Financial Leasing and Operating Leasing
Financial lease can offer financial assets and make companies get expensive machinery when companies is lack of money. Therefore, financial leasing help companies avoid commercial risk and catch every opportunity. While, operating leasing provides assets to those companies that just need to use equipment, but don not intend to own it, especially the high technological equipment.
2.2.3 Leveraged Lease
In a leasing transaction, if the equipment is owned totally by the lessor, this type of lease is called single-investor lease. If the lessor spent just a little money, and the banks offer loans, this is leveraged lease, or it is called third-party equity lease. The fund that is used to buy the assets comes from lessor and banks. Commonly, lessors just account for 20%-40% in the total rent, so in leveraged lease, there are at least three sides that are involved: loaner, lessor, lessee. According to law the lessor has the ownership of equipment, but the ownership of assets is pledged to the bank in order to get its loan. Leveraged lease has a great popularity in developed countries, for lessors can benefit from tax-cut.
2.2.3.1 The Features of Leveraged Lease
1. There are at least three parties: a lessee, a lessor and lenders( debt holders).
2. The lender is without the resource to the lessor. When the lessee is unable to pay or refusal to pay rent, the lender can only terminate the lease, and to compensated through the auction equipment, while not entitled to the lessor recourse.
2.2.3.2 The scope of Application of the Leveraged Lease
This type of lease applies to large-scale, long-term and more than a few million dollars leasing, such as: aircraft, pipeline, offshore oil drilling platform and satellite system, etc. Recent years, leveraged lease has a great development, mainly in America, Japan, Australia and New Zealand.
2.2.4 Leaseback
The equipment of lessee is sold to the lessor, and then the lessee rent back equipment from the lessor. This type of lease is so-called leaseback.
2.2.4.1 The significance of leaseback
Leaseback is very favorable to the enterprise and it is used to improve its financial position when enterprises are in lack of finance. Lessee can fix assets into cash and then invest in other business, but at the same time he can continue to use the asset over the lease term. In addition, corporate profits and depreciation in the sale of the assets has been recovered.
2.2.5 Sublease
Equipment leased by the leasing company from the foreign leasing companies is rented by a domestic enterprise. When its borrowing capacity is weak and lack of underdeveloped financing techniques, a leasing company often use sublease in order to facilitate the financing.
2.2.6 Comprehensive Lease
This lease is closely linked with the international trade. The following are the three types: (a) the combination of leasing and compensation trade. (b) the combination of the lease and the processing and assembly operations. (c) the combination of lease and export credit.
2.3 The Background of Machinery Leasing
Machinery leasing is an industry that caters for the demand of machinery. In machinery leasing, the lessor provides machinery according to the specific requirement of the lessee on lease object and supplier selection, and the lessee uses the machinery during the renting period, but it has to pay for it.
Modern machinery leasing began to boom all over the world after the world war two. After world war two, the global economy have a greatly increase, due to many countries’ development especially the developing countries, modern machinery have ever increasingly developed. For example, in Asia and Africa many independent countries are anxiously developing their infrastructure, such as electric power, cleaning water system and roads construction. Rental business areas cover heavy, expensive construction equipments, airplanes, ships and so on. However, modern machinery leasing is different from earlier one, modern machinery aims to finance and that is a notable characteristic.
2.3.1 The Introduction of DaTong Co., Ltd’s Machinery Leasing in Africa
Now Africa is a booming market. Lots of developing countries are increasingly trying to build roads, airports and railroads, so there is much room for DaTong to develop. Therefore, DaTong Co., Ltd decided to develop its own machinery leasing business in Africa. As its construction machinery is the top of the world among DaTong’s products, DaTong has made decisions that using construction machinery as the main products to enter Africa market.
2.4Marketing Analysis |
