Study on Market Discipline Effect of Subordinated Debts of Commercial Banks in China-Based on Yield Spreads Model
By constructing the yield spreads model, we have empirical analysis on the market discipline effect of subordinated debts in China. The result shows that pricing mechanism does not reasonable and issuing method is not major factors affecting debts yield spreads, subordinated debts investors are more concerned about the ability of commercial banks to cope with risk-taking. Only large commercial banks will choose to issue the subordinated debt and market discipline effect of the subordinated debts become more dominant accompany by the marketization of commercial banks in China.
Commercial Banks Subordinated Debts Market Discipline Yield Spreads Model
LIANG Yan YUAN Yijun LIU Yu
School of Economics, Dalian University of Technology, Dalian, China, 116024
国际会议
大连
英文
516-521
2012-07-07（万方平台首次上网日期，不代表论文的发表时间）