AIG在次贷危机中所扮演的角色及其启示

The Role and Enlightenment of AIG during Sub-prime Crisis

美国的次贷危机已经演变成波及全球的金融危机,在此次危机中有许多国际知名的金融企业陷入困境,其中就包括美国国际集团(AIG)。作为全球首屈一指的保险业巨头,AIG在次贷危机中由于流动性不足,从一家纯粹的私人企业变成了"半国有化"的企业,其根源在于制度层面的投资过度集中、风险管理缺失、创新工具滥用,和技术层面的数据充足性、假设准确性、模型有效性等问题。

Sub-prime crisis in the United States has evolved into a global financial crisis, in this crisis there are many worldwide well-known financial firms get into troubles, American International Group （AIG） is one of them. Although as the world＇s leading insurance giant, but AIG has transformed from a purely private enterprise into a ＂semi-nationalization＂ of the enterprise because of lack of liquidity in the sub-prime crisis. The root cause lies in two aspects, the first one is in system aspects, include excessive concentration of investment, deficiency of risk management, abuse of innovative tools, and the other one is in technical aspects, include data inadequacy, accuracy of the assumption and validity of the model etc.