资产证券化对我国商业银行经营的影响研究

发布时间：2018-05-13 12:48

本文选题：资产证券化 + 商业银行　；参考：《南京大学》2017年硕士论文

【摘要】：资产证券化作为新兴衍生工具,近几十年发展十分迅速。在发达经济体中,资产证券化俨然已经成为最为重要的金融创新工具之一。随着2008年全球金融危机的爆发,愈来愈多的学者开始思考ABS发展对于金融业乃至全球经济的影响。国内外许多专家学者都认为,ABS工具的过度不当使用是此次全球金融危机爆发的根本原因。ABS也因此进入了很长一段时间的停滞时期。直至今日,在美国市场上ABS的年度发行量仍然没有超过危机之前的年度发行量。但是,资ABS市场在复苏,并且整个行业在吸取了此次危机的惨痛教训之后开始愈来愈关注资产证券化的健康发展。我国ABS业务正式开展开始于2005年。开始初期,主要发行人为商业银行。至2008年全球金融危机爆发之前,我国的ABS业务一直处于低速发展阶段。次贷危机爆发后,我国政府为了维护我国金融市场的稳定,抗击金融危机对我国经济的影响,暂停了我国ABS业务。直至2012年,我国才开始正式恢复ABS业务在我国的发展。ABS能够将基础资产打包重组,出售给特殊目的机构,从而使得发行人自身的流动性增强。商业银行由于存在这存款贷款期限错配的问题,其经营流动性一直是其亟待解决的问题。通过ABS,商业银行能够将其流动性较低的例如贷款等资产进行证券化,转变为流动性较强的资产。商业银行在ABS过程中,还能够收取管理费用。出售基础资产所得到的资金还能够用于再投资。因此,ABS能够提高商业银行的盈利能力。本文主要研究分析了我国商业银行资产证券化的相关问题。包括我国商业银行ABS的特点、存在的问题以及ABS对我国商业银行经营的影响。本文还通过是实证分析,研究了 ABS业务同商业银行盈利能力之间的关系,并且还研究的ABS重启之后对我国商业银行盈利能力的影响。最后,本文对我国商业银行ABS发展提出了几点建议。
[Abstract]:As a new derivative, asset securitization has developed rapidly in recent decades. In developed economies, asset securitization has become one of the most important financial innovation tools. With the outbreak of the global financial crisis in 2008, more and more scholars began to think about the impact of the development of ABS on the financial industry and even the global economy. Many experts and scholars at home and abroad think that the improper use of ABS tools is the root cause of the outbreak of the global financial crisis. As a result, ABS has entered a long period of stagnation. To this day, annual ABS issuance on the U.S. market remains within the pre-crisis level. But the ABS market is recovering, and the industry is increasingly concerned about the health of asset securitisation after learning the painful lessons of the crisis. China's ABS business began in 2005. At the beginning of the year, the main issuers were commercial banks. Before the global financial crisis broke out in 2008, China's ABS business has been in a low development stage. After the subprime mortgage crisis broke out, our government suspended the ABS business in order to maintain the stability of our financial market and resist the impact of the financial crisis on our economy. Until 2012, China began to formally resume the development of ABS business in our country. ABS can package and reorganize the basic assets and sell them to special purpose agencies, thus enhancing the liquidity of the issuers themselves. Due to the mismatch of the deposit loan term, the operating liquidity of the commercial bank has always been an urgent problem to be solved. Through ABS, commercial banks can securitize their less liquid assets, such as loans, and turn them into more liquid assets. Commercial banks can also charge management fees in the ABS process. The proceeds from the sale of underlying assets can also be used for reinvestment. Therefore, ABS can improve the profitability of commercial banks. This paper mainly studies and analyzes the related problems of asset securitization of commercial banks in China. Including the ABS characteristics of commercial banks in China, the existing problems and the impact of ABS on the operation of commercial banks in China. This paper also studies the relationship between the ABS business and the profitability of commercial banks through empirical analysis, and also studies the impact of the restart of ABS on the profitability of commercial banks in China. Finally, this paper puts forward some suggestions on the development of ABS in China's commercial banks.
【学位授予单位】：南京大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.33

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