| Summary: | 碩士 === 國立高雄第一科技大學 === 財務管理所 === 94 === ABSTRACT
As the financial instruments increases, the financial institutions
provides various professional banking services which include short and long
term financing for working capitals, guarantees, syndications, and factoring
services. Because the handling charge is not easily influenced by the interest
rate in the market, and it also reduce the risk of debt compared to the
traditional loans, securitization become one of the popular ways for the
financial institutions to increase their revenue in recent years.
Our study is to explore the characteristics of Financial asset
securitization, the implementation in Taiwan, and the problems of financial
institutions face while issuing the Financial asset securitization. On 24th of
February 2003, the Industrial Bank of Taiwan completed Taiwan’s first-ever
collateralized loan obligations (CLOs). The CLOs were sold out soon after
their debut and widely recognized as the best securitization case by
Euromoney, Finance Asia, Asia Money and the Asset. On the 12th of
November 2004, IBT further launched the〝World Peace Industrial Co., Ltd.〞
Trade Asset-Backed Commercial Paper（ABCP）. The two cases are discussed
in the paper.
On the other hand, the survey focus on the investment aptitude of the
investors. The questionnaire is to the investment aptitude of the investors. The
results showed that gender, education, vocation, the amount of personal asset,
the risk which investors can bear, tax, and investment preference will
influence the strategies of the investors. As the investors make their decision
on the allocation of their asset, the seven variables above will affect their
investment strategies.
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