【作者】 何炳辉；

【导师】 彭虹；

【作者基本信息】 广东商学院 ， 民商法学， 2010， 硕士

【摘要】 本论文主要是对资产证券化中的核心机构——特定目的机构的法律问题进行的研究。本文第一部分以介绍资产证券化为切入点,对特定目的机构特征及其作用进行了分析,阐述了特定目的机构的安全性、有效性以及实现公平与正义的制度价值。第二部分通过详细分析了特定目的信托与特定目的公司之优势与劣势,并将两者进行对比。第三部分探讨了破产隔离制度的重要性,提出了信托与真实销售属于破产隔离机制的两种模式之观点,深入分析了信托与真实销售两种破产隔离机制的特征及其法理,通过对真实销售的传统标准与新标准进行对比分析提出了我国对于破产隔离机制的选择及其原因。第四部分分别阐述了特定目的机构监管的理论基础,突出分析了着重研究了特定目的机构监管的法律问题。通过对四部分的研究提出了在我国当前应当推行特定目的公司的形式并以真实销售为破产隔离机制推动资产证券化的发展,明确指出我国当前关于特定目的机构的立法层次低、效力低等问题,提出我国应加快立法的步伐,制定特别的单行法;提出我国对于特定目的机构的监管应当重视构建行政监管与市场约束相结合的模式,构建高效的监管制度。更多还原

【Abstract】 This dissertation mainly researches on the legal problems of special purpose vehicle(SPV), which is the core part in asset securitization. Firstly,this dissertation analysis SPV’s characteristics and its role, and analyses advantages and disadvantages of the special purpose trust and the special purpose company, contrasting two kinds of bankruptcy-remote mechanisms : the trust were compared with the true sale, and then put forward that China’s current should try to implement in the form of special purpose company and fix true sell as the bankruptcy-remote mechanism to facilitate the development of asset securitization. Subsequent comparison of the adoption of legislation, pointing out that the legislation on SPV is at the low-level, low-effective. Raise that China should accelerate the pace of legislation, to legislate a special law. Finally, in summing up the experience of the U.S. sub-prime mortgage crisis is presented based on the purpose of China’s regulatory body for specific attention should be given administrative supervision and market constraints to build a combination of models to build effective regulatory system.更多还原