Workshop Series: John Zhang

8 April, 2011 - 10:30 to 12:00
Room 430 Joyce Ackroyd Building (37)

Abstract:

The “transfer of credit risk is a key motivation for asset securitizations and it raises difficult accounting issues” (Barth et al., 2010). This study specifically examines the impact of securitizations on the originator’s default risk during different phases of the recent business cycle. Using the Credit Default Swap (CDS) premium as a measure of default risk, it is found off-balance sheet securitization is positively associated with the originator’s default risk only when the economy declines. These results should be of interests to regulators, who are concerned with how to faithfully represent the underlying economics of securitizations in the financial statements.


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John Zhang, Australian National University

Ziyang (John) Zhang
School of Accounting and Business Information System
Australian National University
Telephone: 610261254868 Email: john.zhang@anu.edu.au

Experience: Currently I am working as an Associate Lecturer at the School of Accounting and Business Information System of the Australian National University. Enrolled in the third year of a PhD, I have completed the coursework requirements and I am currently finishing part one of my thesis entitled: “Accounting for securitizations: The measurement of corporate liabilities through the business cycle.” I am supervised by Professor Fargher.

Education:
2009-current PhD candidate of Australian National University
2006-2008 Master of Accounting, Australian National University
1999-2002 Master of Law, Japan Chuo University
1993-1997 Bachelor of Arts, Beijing Foreign Studies University