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The Research Of The Status And Development Of Corporate Bond In Our Country

Posted on:2005-11-01Degree:MasterType:Thesis
Country:ChinaCandidate:J FanFull Text:PDF
GTID:2156360125963903Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
The corporate bond plays a impotent role because of its special merit. The volume of the corporate bond is great in the developed countries. But it is reversely in our country for some reasons. Some questions have been pointed out based on the research of present status. I.e. the size of corporate bond issue is comparatively small; the variety and the structure of rate are lacking; the structure of maturation is irrationality; the market system is not consummate and so on. For finding out the key factors affecting the development of our corporate bond, the statistical model consisting of four explanation variable, such as GDP, interest rate, inflation, and the size of enterprise, have been found based on the outcomes of relevant research. The rule has been pointed out. But it is reversely in China. The demonstrating reasons are found. The other statistical model consisting of three explanation variable, namely stock, loan and government bond has been found for further research. The relationship of the corporate bond and the explanations variable is showed by the model. For finding other factors blocking the development of our corporate bond, the further studies have been completed. Some limitations have been found. The questions affect the development of the corporate bond. Some useful suggestions have been put based on the research. I.e. the structure of the primary market must been improved by reforming the regulations of issue, canceling the limitations on corporate issuing bond, loosening the regulations of the interest rate and so on; the structure of the second market must been improved by mending the trading process of bourse, canceling the trading limitations of the corporate bond in the bond market inside banks, training the rational investors, and so on. The system of credit valuing must been improved by holding the enterprises' independence, controlling the right of entering the market, founding the pertinent regulations of credit valuing.
Keywords/Search Tags:Corporate bond, Consummating market, Credit estimate
PDF Full Text Request
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