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    政大機構典藏 > 商學院 > 金融學系 > 學位論文 >  Item 140.119/68531


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    题名: 放款銷售, 銀行與總體經濟活動
    Asset Marketability, Banking and Macroeconomic Activities
    作者: 黃永祥
    贡献者: 江永裕
    張興華
    黃永祥
    关键词: 放款銷售
    銀行
    總體活動
    資產證券化
    日期: 2013
    上传时间: 2014-08-12 14:02:30 (UTC+8)
    摘要: 銀行傳統的經營模式為將資金貸放後,須歷經一段期間或直到到期, 才能收回全部現金流量。銀行放款銷售(例如資產證券化(securitization)與放款銷售(loan sale)),可縮短此期間。增加銀行可貸資金的周轉率與貸放能量,並同時使更多投資機會得以融資,可預期未來產出增加。Woodford (2010)與Stiglitz (2011)認為總體或銀行的模型應加入銀行創造信用的新角色,方能對2007年的金融危機更加了解。我們將Allen and Carletti(2006)的銀行模型結合放款銷售機制,討論三個主題:(1)放款銷售機制增加未來產出的同時, 是否也增加產出波動的可能?(2)銀行是否賣出較差品質放款給投資人? 影響因素為何?(3)如果缺乏資產負債表外交易(如擔保),當賣出的放款違約時,銀行是否能置身事外安然無恙?以下分成三章說明各篇探討的議題。

    第二章中探討當越多投資機會得到融資,除使未來產出增加外,可能使未來產出波動擴大。而銀行的專長或資源所導致的差異,更可能擴大此波動。
    但銀行間的資金借貸市場,可以緩和此波動。

    第三章中, 我們發現影響銀行賣出與保留放款品質的因素,除了傳統文獻的資訊不對稱外,尚須考量好壞品質放款間效用的差距,與賣出兩種放款的價差, 與剩餘多少好品質生產案可供貸放。

    第四章則是對於大型金融機構倒閉的原因,提供一個新的觀點:即使不是由銀行負責擔保, 銀行賣出放款後,依然可能因為負責擔保的部門倒閉,造成資產價格下降, 使銀行受賣出放款違約的影響。
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    描述: 博士
    國立政治大學
    金融研究所
    94352509
    102
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0943525091
    数据类型: thesis
    显示于类别:[金融學系] 學位論文

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