Research On Information Disclosure Of Corporate Bonds

China’s bond market has always been a phenomenon of rigid payment,no major bond default event occurred before 2014.Affected by the financial crisis in 2008,both the global economy and the rapidly developing Chinese economy have been in a downturn in recent years.In the case of greater downward pressure on the economy,the potential credit risk of China’s bond market gradually emerged,the frequency of bond default events goes higher.According to Wind data,as of February 13,2017,a total of 114 bonds in China’s bond market had defaulted,involving 58 issuers,with a default scale of 57.328 billion yuan.Among the financing channels of many companies,issuing bonds is a relatively safe choice,but it must be based on the macroeconomic situation,changes in market demand,industrial development rules and its own basic conditions.Otherwise,it will easily lead to the rupture of the capital chain,the formation of debt default,and ultimately has a negative impact on the development of enterprises themselves.This paper takes the Fugui Bird bond as an example to study the corporate bond information disclosure.Because Fugui Bird Group did not disclose information in time after issuing corporate bonds,the investors did not get the changing trend of the financial situation of the Fugui Bird in time,which led to the investors failing to correctly judge the risk of the corporate bonds issued by the Fugui Bird group.Finally,when the Fugui Bird group defaultedon its bonds,it not only caused huge economic losses to the relevant investors.At the same time,it not only caused huge economic losses to the relevant investors,but also lead to the irreparable loss to the corporate image and reputation of Fugui Bird Group the same time.On this basis,we can get the following enlightenments:in order to prevent corporate bond default,after issuing bonds,companies need to timely do a good job of information disclosure,prevent strategic errors,formulate strategies in accordance with macroeconomic policies,promote the transformation and upgrading of the company;strictly control the internal financial risks of the company,establish risk early warning mechanism,and achieve the company’s security,stability and sustainable development.