資產證券化的評價與風險-個案分析

劉靜峰(Jing-Fung Liu)

指導教授 ： 何中達

國立中央大學/管理學院/財務金融學系碩士在職專班/碩士(2007年)

摘要

近來我國金融機構在自由化及國際化之浪潮下，風險隨之增加，而如何因應此潮流，並提升金融競爭力，已成為刻不容緩之課題。為了因應此市場變遷的衝擊，及調整金融機構日益惡化之經營體質，進而提升競爭力，台灣施行「金融資產證券化」已為一種必然之趨勢。
然而金融資產證券化商品在我國仍屬於新興產品，但在先進國家，如歐、美、日等國早已行之多年，他們目前現有商品之評價方法完備、整體架構完整、且承銷方式亦已相當完善。
是故本文討論到資產證券化、金融資產證券化、企業貸款債權證券化、證券化之風險；另外亦論及信用增強及探討國內金融資產證券化商品發行現況。
最後在結論與建議中，提出幾項建議：
1. 金融資產證券化商品之發行應儘量標準化。
2. 我國應健全發展金融資產證券化商品的次級市場流通。
3. 建議並要求創始機構增強其資訊透明度

關鍵字

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並列摘要

In recent years, the financial institutions, in the wave of liberalization and internationalization, are with more risk. Moreover, the way to respond to this trend and improve the competing ability of domestic financial institution has been an enforcing issue. Given that the exchangeable constraint in financial market and the crisis of financial management, “ Financial Assets Securitization” which becomes significant trend on Taiwan.
The commodity of Financial Assets Securitization was still emerging product in Taiwan , but in the developed countries, for example Europe, America, Japan and so on have already activated for years, their appraisals methods are complete, the constructions of commodity securitization, the way of sold on consignment perfectly.
Therefore, this paper discusses the property negotiable securities, melts the property negotiable securities, the Enterprise Loan’s Rights Securitization, the negotiable securities risk. On the other hand to discuss domestic melts the property negotiable securities commodity to send present situation.

並列關鍵字

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