| Credit asset securitization is a new financial product.It can help banks to realize the illiquid assets quickly and provide monetary funds.Credit asset securitization is mainly issued by commercial banks.The operating situation of banks has a crucial impact on the development of economy in China.Therefore,it is necessary to pay close attention to the impact of credit asset securitization issued by commercial banks on the profitability.This paper takes domestic commercial banks as the research object,and discusses the influence of credit asset securitization on the profitability of commercial banks.First of all,this paper introduces the related theoretical knowledge of asset securitization from the three aspects of the principle,process and classification of asset securitization.Secondly,it describes the development process and current situation of asset securitization in China,and analyzes the existing problems.Then it makes a theoretical analysis from three aspects:cost,income and profit.And it selects "Jianyuan" as a case study from the four aspects of basic assets,transaction structure,credit enhancement measures and profitability.Finally,this paper builds the fixed-effect panel model for empirical analysis,based the data of 14 commercial banks from 2013 to 2019.The following conclusions can be drawn.Firstly,we can find that credit asset securitization is conducive to the improvement of the profitability of commercial banks.Secondly,the securitization of housing mortgage-based assets is negatively related to the profitability of commercial banks.Therefore,based on the analysis results,this paper makes recommendations from the following aspects:the government establishes and improves relevant laws and regulations and accounting systems;the financial market strengthens supervision and improves relevant systems;the commercial banks appropriately expand the types of basic assets. |
