证券化与银行资本结构

Securitization and Banks' Capital Structure

资本证券化让银行有可能改变自身的资本结构与金融中介流程。本文研究发现,证券化的出现与银行融资政策的根本变化是紧密相连的,同时本文还证明了具有某些特征的银行证券化程度相对于其他银行更深。此外就融资选择啄序而言,中小规模银行与非上市银行等可能会面临更严重逆向选择问题。

Asset securitization offers banks the possibility of altering their capital structures and the financial intermediation process. This study shows that the introduction of securitization is associated with fundamental changes in the funding policies of banks. The study also proves that the degree of securitization of banks with certain characteristics is higher than others.