摘要
本文基于某资产拍卖网站2019年7月至2021年1月间的不良资产公开拍卖竞价处置数据,以成交率、溢价率、成交价和回收率作为处置成效指标,从价格、担保、处置机构和区域环境四个方面,实证研究了金融不良资产特征对处置成效影响。研究结果表明,竞拍门槛与折扣率会降低成交率和溢价率,但提高了回收率,担保能提高单户资产的处置成效。银行和保险公司的单户资产处置成效不如四大资产管理公司,但组包资产处置成效更优。地方资产管理公司的成交率和成交价优于四大资产管理公司,地区经济发展和中介服务水平总体有利于提高处置成效。
Based on the public auction bidding data of non-performing assets from July 2019 to January 2021 on the"Ali Auction Assets"website,taking the transaction rate,premium rate,transaction price and recovery rate as indicators of disposal effectiveness,we empirically analyzed the impact of the differential characteristics of financial non-performing assets on the disposal effectiveness,in terms of price,guarantee,disposal agency and regional environment.Our research indicates that the bidding threshold and discount rate will reduce the transaction rate and premium rate while increase the recovery rate.The guarantee can increase the disposal effectiveness of single asset.The transaction rate and price of the local AMCs are higher than the four major AMCs.The non-packed asset disposed by banks and insurance companies is not as effective as the four major AMCs,but the packed assets disposed by banks are on the contrary.The level of regional economic development and intermediary services are generally conducive to improving the disposal effectiveness.Finally,some brief suggestions on the disposal of non-performing assets are put forward.
作者
袁奥博
孟潭
YUAN Aobo;MENG Tan
出处
《金融监管研究》
CSSCI
北大核心
2021年第3期48-63,共16页
Financial Regulation Research
关键词
网络数据
不良资产
处置成效
担保
Web Data
Non-Performing Assets
Disposal Effectiveness
Guarantee
