Corporate Bond Financing Of The Banking Sector Impact Studies

Corporate debt financing has a direct financing and indirect financing,, that a country choosing bank loans or using bond financing., It is decided by the legal, social, cultural habits, institutional inertia and many other factors. Whether it is a market economy country, the economy rolling, corporate bonds to finance the development of the capital market will affect the financing efficiency, financial institutions in the financial system will affect the role of various financial institutions and the development of a different role. U.S. corporate bonds, financing most developed, much higher than the equity financing Banking Corporate Bond financing for the United States to overcome the adverse impact of the banking sector, after the adjustment, and development now. Not only has the efficient operation of capital markets, the stability of the banking sector and with strong international competitiveness. Japan is a typical bank-led government and the state bank loans and indirect financing has occupied a dominant position. Along with the deepening of financial globalization, financial markets are gradually opening up the bond financing preferences of Japanese enterprises. Japanese banks will gradually lose its dominant position, the Bank of Japan had to adapt to the international situation changes. No matter how a country's economic system, no matter how the development of bond financing for enterprises. in international economic globalization, countries need to have a good capital structure. capital markets need to improve the financing structure. Diversity should be in the form of indirect financing, the Bank of indirect financing is not the monopoly of the characteristics of a market economy, bond financing business enterprises an alternative to the traditional banking sector and promoting the impact on the banks is double-edged. China's market economy building, the direct financing to equity financing has been mainly indirect financing and bank loans again mainly financial, corporate bonds, has been financing the development of objective and subjective side constraints. After years of development, we have more taste of the lack of corporate bonds to finance the harm Lack of creditor locked in the inefficient operation of enterprises, banking bad debts increasing, banks and state financing risks highlighted. My government has accelerated the pace of corporate bonds, financing, the bond market has included in the 11 th Five-Year Plan economic development planning. However, corporate bonds, traditional bank financing mainly to the impact of indirect financing, the impact on the banking industry? China's banking industry go from here? This is an important issue, the current research in this area, but we have a strong practical significance. For this purpose of this paper is to conduct some research. In this paper, the structure comprises an introduction and four chapters, the introduction on the background, the study and research; The first chapter is devoted to corporate bonds to finance existing banking impact studies; Chapter 2 of the basic bond financing for China's banking industry; Chapter III comparison of the United States and Japan, the inspection process of bond financing business banking; Chapter IV of the development process of China's corporate bonds, the analysis of the opportunities and challenges of the banking industry, and made a number of policy recommendations.