A Study on the Hotspots and Visualization Analysis of Asset-Backed Securitization in China Based on CiteSpace

在资本市场中，自从ABS诞生以来，就一直是个热门话题。ABS (Asset-Backed Securitization)，即资产支持证券，所谓的资产证券化，就是对资产支持证券过程中，将信用评级较低的部分进行再次分层与组合，选取一个底层资产作为抵押资产，产生以ABS为资产支持的证券。简单来说，资产证券化很好地盘活了那些在短时间内不易实现收入的资产，促进了资本市场的发展。基于此，为了更进一步了解资本市场发展，了解资产支持证券发展过程和未来发展方向，本文选取“中国知网”上以“资产证券化”为主题的1087篇CSSCI期刊文献，同时借助中国知网和可视化分析软件CiteSpace，对资产证券化的关键词、作者及其研究机构、相关发文数量等知识图谱进行了一定的可视化分析。本文的研究发现与边际贡献体现在以下几点：(1) 通过对大量CSSCI期刊文献的筛选与分析，较为系统地梳理了我国资产证券化从起步到如今的发展历程，清晰呈现各个阶段的关键特征与演变趋势，为后续深入研究奠定了坚实基础，有助于研究者快速把握整体发展态势。(2) 借助CiteSpace可视化技术，深入挖掘资产证券化领域的核心关键词、高频共现组合以及突现词，资产证券化研究热点包括资产支持证券、票据支持证券、银行流动性、资本市场融资、抵押贷款等。(3) 通过细致分析资产证券化研究领域中作者与研究机构的合作关系，揭示当前作者与机构之间合作紧密程度与存在的不足之处，推动知识共享与协同创新，提升整体研究效率和质量。(4) 对结果进行准确统计，分析不同时段资产证券化相关文献的发文数量，分析其增长波动规律，结合当时的政策环境与市场变化，深入探讨背后原因，量化分析研究热度变化轨迹，反思当下对应策略。总之，本文的研究结果对于进一步发展和研究资产证券化相关文献具有重要的参考意义与价值。Since the emergence of ABS (Asset-Backed Securitization), it has been a hot issue in capital markets. ABS, or Asset-Backed Securitization, refers to the process of re-layering and combining parts of assets with lower credit ratings, selecting an underlying asset as collateral to generate securities supported by ABS. In simple terms, ABS effectively activates assets that are difficult to monetize in the short term, thereby promoting the development of capital markets. To gain a deeper understanding of the development of capital markets and the evolution and future direction of asset-backed securities, this paper selects 1,087 CSSCI journal articles on “asset-backed securitization” from the China National Knowledge Infrastructure (CNKI) database. Leveraging CNKI and the visualization analysis software CiteSpace, we conduct a visualized analysis of the knowledge map of asset-backed securitization, including keywords, authors, research institutions, and publication quantities. The research findings and marginal contributions of this paper are reflected in the following aspects: (1) By screening and analyzing a large number of CSSCI journal articles, we systematically comb through the development process of asset-backed securitization in China, from its inception to the present day. We clearly present the key characteristics and evolutionary trends of each stage, laying a solid foundation for subsequent in-depth research and helping researchers quickly grasp the overall development trend. (2) Using CiteSpace visualization technology, we delve into the core keywords, frequent co-occurrence combinations, and emerging terms in the field of asset-backed securitization. The research hotspots in asset-backed securitization include asset-backed securities, note-backed securities, bank liquidity, capital market financing, and mortgage loans. (3) By thoroughly analyzing the collaborative relationships between authors and research institutions in the field of asset-backed securitization, we reveal the current extent of collaboration and its shortcomings, promoting knowledge sharing and collaborative innovation, and enhancing the overall research efficiency and quality. (4) We accurately tally the results and analyze the number of publications on asset-backed securitization across different periods. By examining the growth and fluctuation patterns in relation to the policy environment and market changes, we explore the underlying reasons and quantitatively analyze the trajectory of changes in research intensity, reflecting on current strategies. In summary, the findings of this study offer significant references and value for further research and development of literature related to asset-backed securitization.