Based On The Prepayment Class Enterprise Asset Securitization Product Valuation Method Research

Asset securitization products is more popular in the domestic financial market and would become the trendy financial innovation products.In view of the current financial derivatives pricing is often out of the basic support for asset value of the situation,we from the perspective of third-party neutrality is also the perspective of asset valuation asset securitization of the value of product research,and the focus of this paper is asset securitization Research on Product Valuation of Non-Early Payment.Because asset securitization products involve more types of basic assets,we are classified from the sources of value,mainly divided into two categories,one is the securitization of credit loans,and the other is securitization products of future operating income assets.The securitization products of future operating income assets related to the bottom of the specific business projects,in a neutral point of view,there is no pre-payment issues.Similarly,the securitization products of future operating income assets is the focus of this article non-prepayment of asset securitization products.For the two types of asset securitization products in the valuation study,we mainly for non-prepayment of securitization products that securitization products of future operating income assets valuation research and method modeling design.For the securitization products of creditor loans,we have only carried out some qualitative analysis and research.For the securitization products of future operating income assets,we mainly use the combination of real option method and trapezoidal fuzzy number method,which can also be referred to as fuzzy real option method.Since the underlying assets of securitization products of future operating income assets are often related to the expected benefits of the development of the project,the problem of the choice of the project will make the income uncertain,and then creating value of the option.In this paper,the value of the real option is calculated by the binary tree pricing model.In addition,in order to quantify the parameters more accurately,this paper uses the trapezoidal fuzzy number method to make the numerical fluctuation parameters more reasonable to determine a numerical value.Based on the analysis of the valuation characteristics of future securitization products,we have established the overall valuation model of securitization products.