科研成果详情

发表状态已发表Published
题名Governance and optimal financing for asset-backed securitization
作者
发表日期2004-10-01
发表期刊Journal of Property Investment & Finance
ISSN/eISSN1463-578X
卷号22期号:5页码:414-434
摘要

Asset-backed securitization (ABS) is an interesting financial innovation whereby debt instruments backed by cash flows generated from income-producing assets are issued for investment purposes in the capital markets. This study examines the characteristics of ABS transactions in Singapore and evaluates whether proper governance mechanisms have been developed to protect ABS investors. We examined the unique features of the Visor case, such as rental guarantee, large block ownerships of junior bonds, credit enhancement, embedded options, managerial relationships between the SPV and servicers, and critically evaluated the effects of these characteristics on the governance of ABS. Rules on separation of banks' participation in ABS and the accountant's requirement of “clean sale” that affect the ABS structure were also discussed. We also develop a simple information asymmetric model to evaluate the pecking order choice of two different financing methods: Collateralized loans and ABS. © 2004, Emerald Group Publishing Limited

关键词Assets management Governance Singapore
DOI10.1108/14635780410556898
URL查看来源
语种英语English
Scopus入藏号2-s2.0-84993000180
引用统计
文献类型期刊论文
条目标识符https://repository.uic.edu.cn/handle/39GCC9TT/12598
专题个人在本单位外知识产出
作者单位
1.Department of Real Estate,National University of Singapore,Singapore
2.School of Business,University of Connecticut,Storrs,Connecticut,United States
推荐引用方式
GB/T 7714
Fan, Gangzhi,Sing, Tien Foo,Ong, Seow Enget al. Governance and optimal financing for asset-backed securitization[J]. Journal of Property Investment & Finance, 2004, 22(5): 414-434.
APA Fan, Gangzhi, Sing, Tien Foo, Ong, Seow Eng, & Sirmans, C. F. (2004). Governance and optimal financing for asset-backed securitization. Journal of Property Investment & Finance, 22(5), 414-434.
MLA Fan, Gangzhi,et al."Governance and optimal financing for asset-backed securitization". Journal of Property Investment & Finance 22.5(2004): 414-434.
条目包含的文件
条目无相关文件。
个性服务
查看访问统计
谷歌学术
谷歌学术中相似的文章
[Fan, Gangzhi]的文章
[Sing, Tien Foo]的文章
[Ong, Seow Eng]的文章
百度学术
百度学术中相似的文章
[Fan, Gangzhi]的文章
[Sing, Tien Foo]的文章
[Ong, Seow Eng]的文章
必应学术
必应学术中相似的文章
[Fan, Gangzhi]的文章
[Sing, Tien Foo]的文章
[Ong, Seow Eng]的文章
相关权益政策
暂无数据
收藏/分享
所有评论 (0)
暂无评论
 

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。