An Empirical Analysis of Information Asymmetry in Taiwan’s Mortgage Markets

• Main Authors: Ting-yu Chien, 簡挺育
• Other Authors: Yih-Bey Lin
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/12919443713440503127

碩士 === 朝陽科技大學 === 財務金融系碩士班 === 101 === In this paper, we modify CS and DGV empirical model to explore the problems of asymmetric information between banks and borrowers in Taiwan''s house mortgage markets. The results show that by the CS model regression analysis, whether control interest rates, mortgage market is shown the existence of information asymmetry between bank and borrowers. By the DGV model regression analysis, the borrower''s adverse selection problem is smaller in the low loan amount; the borrower''s adverse selection problem is more serious in low loan-to-value. In order to explore how the size of the loan amount combine with interest rate whether effect information asymmetry. The result shows that interest rates is a major factor in the problem of information asymmetry.