上海管理科学2017，Vol.39Issue(2)：17-22,6.
金融危机前后信贷资产证券化对商业银行行为和风险的影响——基于美国面板数据的研究
Research on the Influence of Securitization on Commercial Banks' Behavior and Risk Before and after the Financial Crisis——A Study Based on Panel Data from America
陈玮 1傅亚平1
作者信息
- 1. 上海交通大学 安泰经济与管理学院,上海 200030
- 折叠
摘要
Abstract
Credit assets securitization is an important way of transferring risk for commercial banks but leads to motivational distortion in the following way. Firstly, securitization increases liquidity of banks' assets, thus encouraging banks to engage in business of high risk. Secondly, securitization can help banks easily transfer credit risk, which weakens their motive to verify and monitor the quality of loans. After the financial crisis, American supervisors realized the problem and introduced a series of policies.This essay aims at comparing the degree of motivational distortion before and after the financial crisis and examining the effect of policies issued. The results show that: credit assets securitization indeed causes the problem of motivational distortion and increases banks' risk level. What's more, policies carried out after the financial crisis revised motivational distortion effectively, which has important implications to china's development of assets securitization.关键词
信贷证券化/动机扭曲/政策有效性Key words
credit assets securitization/motivational distortion/bank risk分类
管理科学引用本文复制引用
陈玮,傅亚平..金融危机前后信贷资产证券化对商业银行行为和风险的影响——基于美国面板数据的研究[J].上海管理科学,2017,39(2):17-22,6.
