Credit Risk Management in the Automotive Industry: Structuring of Loan and Lease Securitizations as Integrative Solution - Softcover

Hener, Alexander

 
9783824482870: Credit Risk Management in the Automotive Industry: Structuring of Loan and Lease Securitizations as Integrative Solution

Inhaltsangabe

One of the reasons for the expected increase in the number and volume of German asset-backed securities (ABS) transactions is the True-Sale Initiative fostered by the Kreditanstalt für Wiederaufbau.

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Über die Autorin bzw. den Autor

Der Verfasser promovierte extern bei Prof. Dr. Johannes Schneider am Lehrstuhl für Volkswirtschaftslehre, insbesondere Wirtschaftstheorie, der Katholischen Universität Eichstätt. In dieser Zeit war er als Doktorand am Forschungszentrum von DaimlerChrysler in Ulm tätig.

Von der hinteren Coverseite

One of the reasons for the expected increase in the number and volume of German asset-backed securities (ABS) transactions is the True-Sale Initiative fostered by the Kreditanstalt für Wiederaufbau. The question is, which particular contracts from a pool of finance or lease contracts should be securitized in an ABS transaction.

Focusing on captive finance units in the automotive industry the author analyzes this question. He shows which interest groups and potential conflicts may cause portfolios to be inefficiently priced, and suggests securitization as an integrative solution. Taking the issuer's point of view he develops a quantitative framework for the structuring of ABS transactions. In order to determine the risk contributions of individual contracts in the portfolio, the author examines the feasibility of various credit risk models. The securitization framework and the credit risk model are implemented and parameterized.

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