我国商业银行信贷资产证券化的财务效应探析

发布时间：2018-06-04 07:12

本文选题：商业银行 + 信贷资产证券化　；参考：《上海外国语大学》2017年硕士论文

【摘要】：资产证券化是20世纪70年代以来世界金融领域发展最迅速的创新工具之一,随着经济全球化的飞速发展,资产证券化不断得到推广和深化,为金融市场注入了源源不断的活力,我国于2005年开启了信贷资产证券化的试点,我国各银行相继发行了多个信贷资产证券化产品。作为一种结构性融资活动,它必然会对其发行主体产生一定的影响,因此,本文旨在对信贷资产证券化产品对我国商业银行产生的财务效应影响进行研究,并根据研究结论,对我国商业银行未来更加深入地开展信贷资产证券化业务提出一些建议。本文通过选择我国上市银行中已发行过信贷资产证券化产品的银行的相关财务数据,对我国商业银行信贷资产证券化的财务效应进行研究。首先,在梳理了相关文献的基础上,介绍了信贷资产证券化的相关理论,包括运作原理,相关参与主体,交易机制等等;然后对我国信贷资产证券化的发展历程、发行规模、二级市场情况以及在我国的发展特点进行概括和介绍;然后结合信贷资产证券化的运作原理,分析其发挥财务效应的内在机制和理论基础;再通过运用全面FGLS的方法对我国商业银行信贷资产证券化产生的财务效应进行实证分析。结果显示,从总体上来看有效的改善了其财务效应,其中明显的改善了流动性效应和安全性效应,而盈利性效应改善作用并不明显;最后结合我国发展实践以及国际上的先进经验,分别从银行层面和市场环境层面提出改善的相关建议,包括大力推进信贷资产证券化业务发展、适度扩大基础资产范围和类型、灵活调整次级档证券比重、全面加强风险识别与管控、完善法律监管体系、积极推动二级市场发展等。
[Abstract]:Asset securitization is one of the most rapidly developing innovative tools in the world financial field since the 1970s. With the rapid development of economic globalization, asset securitization has been continuously promoted and deepened, which has injected a continuous stream of vitality into the financial market. In 2005, China launched a pilot project of credit asset securitization, and many credit asset securitization products were issued by Chinese banks one after another. As a kind of structured financing activity, it will inevitably have a certain influence on its issuer. Therefore, this paper aims to study the financial effect of credit asset securitization products on commercial banks in China, and according to the conclusion of the study, Some suggestions are put forward for the further development of credit asset securitization by Chinese commercial banks in the future. This paper studies the financial effects of credit asset securitization of Chinese commercial banks by selecting the relevant financial data of the banks that have issued the securitization products of credit assets in the listed banks of our country. First of all, on the basis of combing the relevant literature, this paper introduces the relevant theories of credit asset securitization, including the operational principle, relevant participants, transaction mechanism, etc.; then, the development of credit asset securitization in China, issuing scale, etc. The situation of the secondary market and the characteristics of its development in China are summarized and introduced, and then the internal mechanism and theoretical basis of the financial effect of credit asset securitization are analyzed in combination with the operating principle of the securitization of credit assets. The financial effects of credit asset securitization of commercial banks in China are analyzed empirically by using the method of comprehensive FGLS. The results show that, on the whole, the financial effect is improved effectively, among which the liquidity effect and safety effect are obviously improved, but the profitability effect is not obvious. Finally, combining the development practice of our country and the international advanced experience, the paper puts forward the relevant suggestions from the bank level and the market environment level, including vigorously promoting the development of the credit asset securitization business, and expanding the scope and type of the basic assets moderately. Adjust the proportion of secondary securities flexibly, comprehensively strengthen risk identification and control, improve the legal regulatory system, and actively promote the development of the secondary market.
【学位授予单位】：上海外国语大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51;F830.42

【参考文献】