论资产证券化的有价证券制度基础

在英美法系财产法上,财产被区分为具体物和抽象物。二者之间的优势互补推动了有价证券的发展,从而使财产的证券化成为现代财产法至为重要的发展趋势之一。资产证券化是现代财产法财产证券化历程上最高级、最复杂、最完善、包容性和灵活性最强的制度结晶。资产证券化是由两个阶段、四项主要制度构架起来的有机体系,克服了普通公众化有价证券制度的局限性。

On the Securities'''' Systematic Base of Asset'''' Securitization

Under the property law, things are classified into abstract things and physical things. The communication between them promotes the development of the securities. Therefore, the securitization of property becomes one of the most important trends of the development of the property law. Asset securitization is the most advanced, the most complicated and the most perfect system. asset securitization is Composed of two steps and Four major Schemes, it overcomes the Limitations embodied by public held Securitie's system.