Information cost and securitization

被引：0

作者：

Fan, Zhongjie ^{[1
]}

Liu, Zehao ^{[2
]}

Tang, Dunzhe ^{[3
]}

机构：

[1] Univ Int Business & Econ, Sch Banking & Finance, Beijing, Peoples R China

[2] Renmin Univ China, Sch Finance, Beijing, Peoples R China

[3] Fudan Univ, Int Sch Finance, Shanghai, Peoples R China

来源：

ECONOMICS LETTERS | 2024年 / 239卷

基金：

中国国家自然科学基金;

关键词：

Information sensitivity; Securitization; Information cost;

D O I：

10.1016/j.econlet.2024.111759

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Securitization increases the complexity of assets while incurring associated costs, which enhances asset liquidity by curbing private information production and facilitating asset resale. The liquidity improvement reduces the immediate financing costs for firms, incentivizing them to engage in securitization. Firms have stronger incentive to securitize when the cost of securitization is lower or the underlying assets are less liquid.

引用

页数：3

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