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| Research on Asset Securitization of Highway’s Earning Right |
| YAN Yan, GU Yalu, ZHU Xiaowu
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School of Economics and Management , University of Chinese Academy of Sciences;
Key Laboratory of Big Data Mining and Knowledge Management,Chinese Academy of Sciences;
Business School ,China University of Political Science and Law |
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Abstract This article puts focus on the expressway securitization while ABN is designed with expressways’ earning rights as its underlying assets. The issuance size and coupon rate of ABN are decided by the expected revenues of expressway and term structure of interest rate. The ABN’s interest rate risks are discussed in the end.
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Received: 21 August 2014
Published: 12 April 2018
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