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Author
Lizińska Joanna
Title
Jakość aktywów w transakcjach sekurytyzacji
Asset Quality in Securitization Transactions
Source
Zeszyty Naukowe / Akademia Ekonomiczna w Poznaniu, 2008, nr 106, s. 97-109
Keyword
Aktywa, Zarządzanie aktywami, Sekurytyzacja aktywów, Sekurytyzacyjne instrumenty finansowania
Assets, Asset management, Asset securitisation, Asset-Backed Securities (ABS)
Note
summ.
Abstract
W artykule przedstawiono ustrukturyzowaną sekurytyzację aktywów, opierającą się na powołaniu przez przedsiębiorstwo inicjujące transakcję odrębnego podmiotu – spółki specjalnego przeznaczenia. Opisano korzyści wynikające z sekurytyzacji oraz zagadnienie wyboru puli aktywów, które mają być przeznaczone do wydzielenia ich do spółki specjalnego przeznaczenia.

Essential part of asset securitization transactions is pooling and selling of assets (that belong to the originator) to the special purpose vehicle. As a consequence, any research in this area should take into account the asset characteristics. The goal of this article is to focus on asset quality. The author concentrates on some trade-offs connected with proper choosing of the pool of assets. Moreover, it is also essential to evaluate the role of credit enhancement introduced in the process of improving asset quality. Finally, it is shown that asset securitization may lead to the increase of company value, which is possible by reducing some of the of market imperfections and their negative consequences, such as information asymmetry, underinvestment and agency costs. (original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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Bibliography
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ISSN
1641-2168
Language
pol
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