资产证券化市场参与者众多,发起人、组织人以及投资者的参与动机不同,彼此利益存在差异,甚至相互冲突。这直接导致了资产证券化市场的扭曲和萎缩,也打击了市场的信心。正确理解参与者的动机,对于重塑证券化市场确有必要,并有利于恢复投资者信心和市场的可持续发展。 There are many participants in the securitization market. Motivations of promoters, organizers and investors are different. Their interests are different and even conflict with each other. This directly led to the distortion and shrinkage of the asset securitization market, but also hit the market confidence. Correct understanding of the motivation of the participants is indeed necessary for reshaping the securitization market and is conducive to restoring the confidence of investors and the sustainable development of the market.