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资产证券化是20世纪70年代以来最具影响的金融创新之一,但金融危机的爆发在一定程度上暴露了现阶段资产证券化中存在的一些问题。本文从信息不对称的视角,从资产证券化的流程、参与者角色入手,分析其中信息不对称进而导致激励不兼容的环节,并有针对性地提出若干政策建议,为我国尚处于起步阶段的资产证券化的未来健康发展提供些许参考。
Securitization of assets is one of the most influential financial innovations since the 1970s. However, the outbreak of the financial crisis has exposed some problems in asset securitization to a certain extent. Starting with the process of asset securitization and the role of participants, this paper analyzes the link between information asymmetry and incentive incompatibility from the perspective of information asymmetry, and puts forward some policy recommendations in a targeted manner. Asset securitization of the future healthy development provide some reference.