Study On Controling The Risk In Assets Securitization With Gray Theory

Since the 1970s,the world's financial occur securitization, globalization and liberalization, particularly in the promote of the development of information technology, financial tools,financial product innovation improve everyday.With the business environment deteriorating situation,the major countries of Western financial institutions eager to find a mortgage who can increase the flow of innovative financial derivatives.Asset securitization appears in this situation.In theory, asset securitization is a financing method, even is a risk management approach. Therefore, the study of risk of asset securitization should include two aspects: First, as a financing method, asset securitization exists various risks, so we should study the various kinds of risks in asset securitization's operation, to reduce the uncertainty in asset securitization's operation; Second,as an approach to risk management,the management of the risk of asset securitization is the most important research in risk research, whose core is the risk isolation mechanisms.risk isolation mechanism is the risk management approach to securitizations, but it brings some new risks, so that asset securitization is a double-edged sword.We need treat its two sides dialectical and comprehensively.The purpose of this paper is using the gray theory method, treat the risks of asset securitization in the whole process and make effective risk control methods.Firstly,we briefly introduce the meaning of asset securitization, the basic principles and operating procedures, and analyze the development process of asset securitization in the United States, Europe, Asia, and China depthly. Then systemly propose the risk control process and methods of asset securitization, including identification of risk securitization, measurement of asset securitization, and risk control of asset securitization, and in Chapter IV,using the Shenzhen CIMC case, analyzing asset securitization and proposing effective risk control measures,providing a more scientific basis to asset securitization. Finally, analyze the status and existing problems of asset securitizationin China,and propose the effective solutions of asset securitization in China.But most of the indicators is the evaluator's subjective data rate, so choose a different evaluators comprehensive evaluation of the results generated may be not exactly same. Therefore, in the actual risk assessment process,we should find the higher level of knowledge and more experience experts, to improve the accuracy of each index, to more accurately determine the level of risk.