美国次级抵押贷款证券化过程中的激励问题探析  

作　　者：金俐[1] 

机构地区：[1]上海大学国际工商与管理学院,上海201206

出　　处：《黑龙江对外经贸》2008年第8期128-130,共3页Heilongjiang Foreign Economic Relations and Trade

摘　　要：由于信息不对称,资产证券化在分散信贷风险的同时,也可能通过激励机制的扭曲不断积累金融风险。本文以美国次贷市场为例,对证券化过程中出现的各种激励问题进行深入分析。吸取美国次贷危机的教训,中国在推进资产证券化时,应加强制度建设,抑制经济行为人的逆向选择和道德风险。Under information asymmetry, sccuritization may simultaneously lead to accumulation of financial risks due to distortion of inventive mechanisms, although it helps to diversify credit risks. Taking the American subprime market as an example, this paper offers a comprehensive discussion of all kinds of incentive issues occurred in the securitization process. This discussion helps us to learn lessons from the subprime crisis and therefore to promote China＇ s securitization more effectively.

关 键 词：信息不对称 资产证券化 激励问题 

分 类 号：F830.9[经济管理—金融学]