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Research On The Effectiveness Of Infrastructure Enterprise Bond Market Supervision

Posted on:2018-04-16Degree:MasterType:Thesis
Country:ChinaCandidate:X F ZhangFull Text:PDF
GTID:2359330542957864Subject:Project management
Abstract/Summary:PDF Full Text Request
With the development of economic globalization,capital market and all kinds of financial products are gradually expanding and innovating as well.After the international financial crisis,governments around the world have began to realize the important of financial regulation.Since the reform and opening-up,China's corporate bond market,as an significant part of financial market,started from nothing and grew up from the twists and turns.However,with the increasing of scale of corporate bond market,the constant innovation of bond varieties and the changes in China's overall economic environment,Chinese government began to pay close attention to the effective regulation of corporate bond market.First of all,this thesis will introduce the theory of infrastructure corporate bond and its regulation,which will use to analyze the risk of infrastructure corporate bond market regulation,and the present situation and existing problems in market.The result shows that the infrastructure corporate bond has solvency,liquidity,financial and business risks.For the market regulation,it exists problems on regulation subject and object disunity,lack of self-discipline and credit rating mechanism incomplete.Further,we will chose eight indicators,including GDP growth rate,corporate bond index,bond-issuing scale,core operation revenue,asset net interest rate,asset-liability ratio,current asset turnover and total asset growth rate,to test the effectiveness of corporate bond market regulation in recent ten years in our country.Then we got the score of corporate bond regulation efficiency and complete regression analysis on it.The empirical results show that with the expanding of corporate bond market in China,the regulation effectiveness is not as expect.At last,we put forward some suggestions for the Chinese infrastructure corporate bond and the whole corporate bond market through the empirical test results and existing problems analysis.Corporate bond market in our country should be based on the unified regulation subject and object.Furthermore,the supervision relevant laws should be unified as well and change the issuance examination system.Meanwhile,government should encourage self-discipline organizations play an important role.
Keywords/Search Tags:Infrastructure Enterprise Bond, Market Supervision, Effectiveness of Supervision
PDF Full Text Request
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