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资产证券化(ABS)是近年来世界金融领域最为重大的金融创新之一。它运作的实质在于把缺乏流动性但具有未来收益的资产加以结构重组,转换为在金融市场上可以出售和流通的证券。通过资产证券化这种方式,投资人与投资标的物之间关系,由原来的直接掌握物权,转化为持有债权性质的有价证券。因此,该种方式通过盘活非流动性资产,有效地优化了资源配置,提高了资产的运行效率。同时,也适应了现代西方社会融资证券化的需求,为企业融资开辟了新的途径。
Asset securitization (ABS) is one of the most significant financial innovations in the world financial field in recent years. The essence of its operation lies in the structural reorganization of illiquid but future-yielding assets into securities that can be sold and traded in financial markets. Through the method of asset securitization, the relationship between the investor and the subject matter of the investment transforms from the direct possession of the real right into the securities possessing the nature of the claim. Therefore, this kind of way through the activation of non-liquid assets, effectively optimize the allocation of resources, improve the operational efficiency of assets. At the same time, it also meets the demand of securitization of modern western social finance and opens up new avenues for corporate financing.