摘要
尽管资产证券化的发展对企业的融资带来了便利,丰富了金融市场可供选择的金融工具,但是资产证券化也加剧了金融市场的风险,美国次级债风波就是验证。本文从理论上分析了资产证券化的风险隔离机制的基础,认为资产合格、SPV合格、真实销售、重组增值、管理牵制和持续的信息披露等构成六道防线,这对当前我国防范资产证券化中的风险具有启发意义。
The securitization of assets increases financial market risks,though it brings convenience to corporate finance and alternative to financial tools.This article analyzes the basis of asset securitization isolation mechanism,holds that the six dimensions,i.e.qualified assets,SPV,true sales,value added restructuring,management,and sustainable information disclosure,have important meaning in preventing the risks associated with China asset securitization.
出处
《当代经济科学》
CSSCI
北大核心
2008年第1期59-63,126,共6页
Modern Economic Science
关键词
资产证券化
风险隔离机制
启示
Asset securitization
Risk isolation mechanism
Reference
